The Lagos State Employment Trust Fund (LSETF) has announced Lagos Innovates, a series of programmes aimed at assisting technology- and innovation-driven startups in Lagos State.
The LSETF is a Lagos State Government initiative created as part of its commitment to boost the Lagos economy through job creation. By providing access to high quality infrastructure, learning, capital and networks, Lagos Innovates hopes to further establish Lagos as a leading destination for startups in Africa.
The initiative launches with three programmes designed to deliver value through Lagos’ numerous co-working facilities. Lagos-resident founders and operators of co-working spaces and innovation hubs are now eligible to apply for Workspace Vouchers, Hub Loans and Events Sponsorship.
In the first half of 2018, additional programmes will follow, including a scale-up accelerator programme, a co-investment scheme and a second, learning-focused, voucher scheme.
“Lagos has perhaps the most exciting startup ecosystem of any city in Africa. The investment case is clear, and driven primarily by the size of the market and accessibility as an entry-point for Nigeria and a springboard for the rest of West Africa,” Akintunde Oyebode, the executive secretary of the LSETF, said.
“If we get our model for innovation-driven enterprises right, Lagos State has the potential to exponentially increase opportunities and jobs for its residents in the medium- to long-term. This is the right government to execute on Lagos Innovates and the broader vision of a thriving startup ecosystem.”