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Lagos State to Float Fund for ICT Innovation

By on April 30, 2012

The Lagos State government has disclosed it has plans to develop an innovation fund focused on information and communications technology in order to promote enterprise amongst the populace, as well as strengthen its economic development.

The Fund will be supported and administered by the Lagos State government to promote research and development, enterprise promotion and innovation.

Commissioner for Science and Technology, Adebiyi Mabadeje, addressing members of the press on the development said, “An Innovation Council was inaugurated last year by the State Government, in collaboration with a team from the Harvard Business School to develop an Innovation Fund. We are providing two funds here. One is for the general populace; while the other is to challenge and support post-secondary institutions in Lagos State.”

He said the Fund will begin disbursing grants by the end of the year to individuals who demonstrate capacity to help in the growth and development of the country.