Lagos, Nigeria, is setting its sights on becoming a leader in African innovation and technology. The state government recently unveiled a comprehensive strategy to cultivate a thriving ecosystem for startups, corporations, and academic institutions.
The Honorable Commissioner for Innovation, Science and Technology (MIST), Olatubosun Alake, has revealed the proposed Lagos Innovation Bill. This groundbreaking policy aims to stimulate economic revival, foster corporate startup synergies, and position Lagos as a global hub for innovation.
Honourable Tunbosun Alake- Commissioner, Lagos state ministry of Innovation, Science & Technology
Driving Innovation through Strategic Policy
Speaking at a high-profile stakeholder engagement event at the Eko Innovation Centre in Ikoyi, Lagos, Alake underscored the transformative potential of the Lagos Innovation Bill. "The Lagos Innovation Bill is a two-pronged approach. Firstly, it localizes the federal government's Startup Act, tailoring it to the unique needs and dynamics of Lagos State. Secondly, it goes beyond nurturing startups by actively encouraging innovation within large companies and small businesses alike," Alake stated.
The bill’s inclusive framework is designed to create a vibrant, interconnected innovation ecosystem. This ecosystem will facilitate collaboration between startups and established corporations, driving mutual growth and learning. Alake envisioned scenarios where startups’ innovative solutions are adopted and supported by major corporations like MTN or Airtel, and universities drive a thriving entrepreneurial culture, spinning off numerous companies each year with industry support.
Incentives and Collaborative Frameworks
To encourage active participation from large corporations, the bill proposes various incentives, including tax breaks, fee waivers, advocacy support, patent assistance, and research and development initiatives within universities. "Our universities are crucial to this process," Alake emphasized. "By fostering stronger collaborations between academia and industry, we can accelerate the translation of research into tangible products, services, and economic opportunities."
The bill is also expected to catalyze a significant increase in the state's budget allocation for science and technology, which currently stands at around 9%. "By unlocking new streams of economic activity and fostering a thriving innovation ecosystem, we anticipate a substantial boost in budget allocations for science and technology initiatives," Alake added.
Victor Afolabi, Chief Executive Officer of the Eko Innovation Centre, in his welcome address, emphasized the significance of stakeholder engagement as a co-creation event, where collective deliberation would shape the regulatory incentives and create an inclusive innovation ecosystem. He commended the commissioner's vision and commitment to advancing innovation in Lagos State, describing the state as the innovation engine room of the country and a globally recognized hub for innovation.
Victor Gbenga Afolabi, Founder Eko Innovation Centre
Key Initiatives: MetroFibre and Safe City Projects
Highlighting some of the ambitious projects under the innovation agenda, Alake spoke on the MetroFibre Project, which aims to deploy 3,000 kilometers of optic fiber across Lagos State, creating a robust digital infrastructure. Additionally, the Safe City Project will strategically deploy intelligent video cameras to enhance security and foster a safer business environment.
The government has also embarked on constructing a state-of-the-art Tier 3 data center in partnership with the private sector. This initiative will enhance the efficiency and reliability of government services and attract technological investments to Lagos.
Digitization and Cybersecurity
Ongoing digitization of government services promises to enhance efficiency, transparency, and accessibility while reducing operational costs and promoting environmental sustainability. Furthermore, the state’s commitment to cybersecurity involves establishing a Cybersecurity Operations Center (CSOC), collaborating with leading cybersecurity firms and international organizations and investing in local IT talent.
Industry and Stakeholder Support
The stakeholder engagement event saw enthusiastic participation from government agencies, the private sector, and development organizations. Victor Afolabi, CEO of the Eko Innovation Centre, praised the commissioner’s vision, describing Lagos as the innovation engine room of Nigeria and a globally recognized hub for innovation.
Beverly Agbakoba, Head of the Sport, Entertainment, and Technology Practice at Agbakoba Chambers, expressed optimism about the bill. "This initiative will drive Lagos into the 21st century," Agbakoba remarked, emphasizing the need for robust public-private partnership frameworks and ongoing stakeholder engagement.
Breakout Session during the Innovation Policy Engagement Session
A Vision for the Future
The proposed Lagos Innovation Bill represents a bold step towards a fully digitized Lagos, where hospitals, roads, and public schools are seamlessly integrated into a state-wide network, providing universal internet access. Agbakoba envisioned a Lagos where every child has access to the internet, underscoring the need for sustained commitment to maintaining and advancing new systems.
Alake highlighted Lagos State’s pivotal role in driving innovation investment in Nigeria, noting that approximately 70 to 80 percent of innovation funding flows into the state. Establishing a robust policy framework is essential for encouraging continuous innovation investment, driving Lagos to the forefront of the digital revolution.
As Lagos charts this bold course, the proposed Innovation Bill is set to catalyze unprecedented economic and technological growth, heralding a new era of prosperity and advancement for the state and beyond.
Photo Reels
L-R Inemesit Dike - Executive Director, Legal Concierge, Dr Iyabo Phillips, Aanu oyeniran- Delivery Lead, Data Science Network(Nigeria), Prof. Benjamin Aribisala Vice Chancellor at Oduduwa University
Oduduwa University Peter Bamkole - COO Pan-Atlantic University, LASRIC Member, Honourable Tunbosun Alake- Commissioner, Lagos state ministry of Innovation, Science & Technology, Adeleke Alex-Adedipe- DOA Law, Remi Ademiju- Director of Growth, Dotts Media House
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