Lagos Targets Over $3m Ihvestments In Technology, Innovation

Lagos State Government is leading a team of start-up and established technology and innovation companies to GITEX 2024, holding in Dubai, the United Arab Emirates.

GITEX, the biggest tech show in the world, connects people with industry leaders from big tech, global governments, innovative startups, expert investors, and corporate buyers. It is a technology expo held annually at the Dubai World Trade Center in the United Arab Emirates. The event underpins the rapid technology-driven transformations, investments, and projects shaping the economies of the Middle East, Africa, and Asia.

This year, the Lagos State contingent is characterized by technology ecosystem companies and startups in areas such as Organizational ERP management, robotics, software development, etc. Each of these companies is driving value in the Lagos and Nigerian economy. Previous attendances by the state have driven value to Lagos, bringing investment opportunities into the tech space and also enhancing the capacity of tech start-ups, directly and indirectly.

Speaking on this year’s GITEX, the Lagos State Commissioner for Science, Technology and Innovation, Mr Tunbosun Alake, said the Lagos State Government is looking at getting over $3 million in investments into the State through various partnerships for start-ups and existing companies.

The Commissioner stated that Lagos is already reaping the dividends of Governor Babajide Sanwo-Olu’s investments in the technology sector.

He said, “Lagos State has begun to reap some benefits from its attendance and collaborations at the past editions of GITEX. The State, is however, looking at increasing its size of investments in technology and innovation. GITEX provides a platform for global investment and partnership facilitation, we plan to utilize this for greater inward investment flows into our ecosystem”

“Since 2022, we have taken some startup companies to GITEX, who in turn have won grants, global partnerships, and finished in top positions in competitions, such as the Supanova competition where our startup firms got to an appreciable level. This is Governor Babajide Olusola Sanwo-Olu’s vision for the ecosystem.”

Alake added that start-ups from Lagos have now been expanding to other markets.

He expressed the Lagos State Government’s desire to drive further government-to-government partnerships between Lagos and the United Arab Emirates and the Dubai Government.

The Commissioner said that Lagos visibility in the tech ecosystem is paramount, and this has been achieved to a greater length with the State’s presence and contributions at GITEX.

“We are proud to say that our attendance has yielded positive results as the Dubai World Trade Centre has expressed interest in hosting the global technology event in Lagos at a date to be announced in due course. This will no doubt bring direct and indirect benefits to the State and will add to the growing economy of Lagos,” Alake said.

GITEX 2024 will hold at the prestigious Dubai World Trade Center in Dubai, the  United Arab Emirates, from October 13 to 18.

The Deputy Governor of Lagos State, Dr. Obafemi Hazmat, will lead the state’s delegation to the global technology event. He is expected to participate in some high-profile activities, fireside chats and scheduled meetings with some investors and government leaders with the aim of attracting investments to Lagos.