Key Takeaways from Lagos’ Seed Capital, Lagos Research and Innovation Council for Nigerian Facilities Management Industry

Babajide Sanwo-Olu

With the launching of the Lagos Research and Innovation Council and the provision of seed capital for start-ups, it has emerged that Lagos State Government is ready to advance the state economy through innovative policies and programmes.

At a function, Mr Babajide Sanwo-Olu, the Executive Governor of the State, said “There is no gainsaying 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. It is gratifying to note that the world has accepted that Lagos as the Silicon Valley of Africa with major investments by Microsoft and Google in the Ikeja-based Computer Village and emerging tech hubs, which have served as launch pads for the digital careers of numerous youths in software development.

“To further expand the opportunities, we are immediately earmarking seed capital of N250 million into Lagos State Science Research and Innovation Council to be accessed by tech entrepreneurs and software developers in the innovation ecosystem for them to create various solutions from artificial intelligence to robotics, to health informatics and green energy.”

With the capital, start-ups with technological mindsets now have the opportunity to advance their entrepreneurial skills to the next level. The government expects the start-ups to help in achieving core THEMES (Transportation and Traffic Management, Health and Environment, Education and Technology, Economy, Entertainment and Tourism as well as Security) promised during campaigns.

The Implications for FM Industry

The launching of the research and innovation council and the capital specifically have many implications for the facilities management industry. The initiative has challenged small and medium start-up FM companies to put on their thinking cap and come up with innovative solutions driven by technologies as the state prepares for the actualization of the Smart City Agenda by 2020. The established FM companies have equally been challenged on the development of solutions capable of enhancing the effective management of specialized and non-specialized facilities within the government’s six pillars to help Lagos in the deliverance of good governance to Lagosians. A research and innovation council indicates an enabling platform for FM companies to create the right modality for public private partnership with the government on the industry advancement in the state.