The Lagos State government has committed a whooping N1 billion seed fund to strengthen research and innovation in the state. Thus, the inauguration of the Lagos State Science, Research & Innovation Council (LASRIC), was tasked with driving research, fostering collaboration, and propelling economic growth through technological advancements.
The seed fund is intended for initial investment, with plans to secure additional funding in the future. The long-term goal is to establish annual funding for LASRIC through dedicated legislation.
Governor Babajide Sanwo-Olu, represented by Deputy Governor Dr. Kadri Obafemi Hamzat, inaugurated the council last week in Lagos at the governor’s office.
He praised the outgoing LASRIC board for its accomplishments, highlighting the creation of over 500 jobs, support for 70 research initiatives, and a significant increase in innovation activity within the state during their tenure.
“Notably, the previous council secured the government’s first patent for a ventilator designed by a University of Lagos team,” he said.
The revamped LASRIC, led by Professor Olumuyiwa Odusanya (University of Lagos Vice Chancellor), boasts a diverse membership. It includes distinguished academics, scientists, tech entrepreneurs, and public sector leaders.
The council will focus on six key areas:
- Funding: LASRIC will provide financial resources to fuel innovation.
- Collaboration: The council will bridge the gap between academia and industry to foster teamwork.
- Capacity Building: LASRIC aims to equip individuals with the skills needed to thrive in the innovation ecosystem.
- Locally-Driven Solutions: The council will prioritize research that tackles challenges specific to Lagos.
- Student Innovation: LASRIC will work with universities to translate student research into impactful, market-ready solutions.