RegTech

Governor Sanwo-Olu Announces $687,000 Seed Capital for Tech Startups

Technology start-ups in Lagos can now apply for the recently announced $687,000 seed capital by the Governor of the state, Babajide Sanwo-Olu to develop tech-focused solutions across the six pillars of the administration’s development agenda.

The governor who made the announcement at the Art of Technology conference in Lagos said that the fund is primarily tasked with investment in research and development in science and technology across different thematic areas of the state, from artificial intelligence to robotics to health and informatics and green energy.

“We used to believe that journalism was about history recorded in a hurry, but every citizen now has the opportunity of record and transmit events as they unfold through the platform of social apps. We are prepared to provide Lagosians with the opportunity to connect on the global stage”, he said.

Sanwo-Olu also acknowledged the importance of artificial intelligence as it must be adopted by the state government to use technology to move  the people.

“We cannot disaffirm the intractable challenges we face as a state. With a population of about 22 million and a crumbling infrastructure, new sustainable methods of transportation and infrastructure deployment must be formulated to keep up with the population growth.

“There is no gainsaying in the fact that any society that wants to be reckoned with on the global stage must be grounded in the application of technology to growth and development”, the governor said.

He pointed out  that the world has accepted that Lagos State is the “Silicon Valley” of the African continent with major investments by Microsoft and Google in the Ikeja basedComputer Village” and emerging tech hubs that have served as launch pads for the digital careers of numerous youths as software developers.

The governor maintained that there are many opportunities available for the development of software that can transform people’s activities through different initiative like Art of Technology 1.0, adding that the conference will open the window for ideas, concepts and principles buried in the creative recesses of our people to break out and transform the landscape.

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“Our administration will continue to provide opportunities that offer ease of doing business in Lagos State for local and foreign investors to leverage on potentials available in the tourism and recreation”, he promised.

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