Lagos Innovation Bill Seeks to Boost Local Tech Funding Access
Written by Blessing Ajibuwa on June 23, 2025
A proposed innovation bill in Lagos aims to create a centralized hub where tech entrepreneurs, universities, venture capitalists, and research labs collaborate to foster groundbreaking ideas. Modeled after Germany’s Fraunhofer Institute, the initiative would enable university graduates to experiment with innovative concepts while attracting funding from venture capitalists. Tubosun Alake, Lagos State Commissioner for Innovation, Science and Technology, highlighted the bill’s potential to localize access to tech venture funds during a keynote on global innovation ecosystems.
Key Highlights
– *Centralized Hub*: The proposed bill would create a centralized hub for tech innovation, bringing together entrepreneurs, universities, and venture capitalists to foster collaboration and innovation.
– *Access to Funding*: The initiative would provide access to funding for tech startups, enabling them to develop and commercialize their innovative ideas.
– *Innovation Ecosystem*: The bill would help to create a vibrant innovation ecosystem in Lagos, positioning the state as a hub for tech innovation in Africa.
Impact on Tech Ecosystem
The proposed bill is expected to have a significant impact on the tech ecosystem in Lagos, providing a platform for innovators to access funding and resources. By creating a centralized hub for tech innovation, the bill would help to foster collaboration and knowledge-sharing among entrepreneurs, universities, and venture capitalists. This would lead to the development of innovative solutions, job creation, and economic growth.
Lagos State Government’s Commitment
The Lagos State Government is committed to creating an enabling environment for tech innovation to thrive. The proposed bill is part of a broader strategy to promote innovation and entrepreneurship in the state, and to position Lagos as a hub for tech innovation in Africa. By supporting tech innovation, the government aims to drive economic growth, create jobs, and improve the quality of life for citizens.
