Lagos Innovates is a series of programs aimed at supporting technology- and innovation-driven startups in Lagos State. The program provides access to high-quality infrastructure, learning, capital, and networks, to establish Lagos as the leading destination for startups in Africa.
The Lagos Innovates program is open to founders and operators of co-working spaces and innovation hubs, as well as Lagos-resident startups. Eligible applicants can apply for one of the first three programs: Workspace Vouchers, Hub Loans, and Events Sponsorship. The application process is open, merit-based, and online.
Workspace Vouchers: State-of-the-art workspaces tailored to your needs, access to top-notch equipment and facilities without the cost burden, collaborative setups to ignite team synergy and innovation, and networking opportunities within the startup ecosystem.
Eligibility Requirements:
- Your venture stage is anywhere from ideation to very early revenue.
- Your team is small and does not include any paid staff. You are a team of co-founders.
- You do not generate monthly revenues of more than one million naira.
- You have never received any third-party capital for your venture; this includes grants, equity or debt.
Application Process:
- Your online application will be judged entirely on its merits, subject to your meeting the eligibility criteria for a Workspace Voucher.
- Applications will be scored by a panel of judges from within the Lagos startup ecosystem, taking into account four criteria: (1) market opportunity, (2) strength of the entrepreneur/co-founding team, (3) progress or traction to date, and (4) strength of recommendation by a credible third-party.
- The maximum possible score is 100 points, and Workspace Vouchers will be allocated to the highest-scoring ventures subject to a minimum threshold score of 50 points until the available vouchers for a particular period are exhausted.
- It is possible to score 50 points without a third-party recommendation, but this is a good way to increase your score. Ideal referees are recognized experts from within the Lagos startup ecosystem (for example, successful founders, investors with notable track records, hub/incubator operators, etc.) who know you/your co-founders and your venture well and can provide genuine insight about your potential.
If you are interested and qualified to apply, visit the Lagos State Employment Trust Fund (LSETF) website at lagosinnovates.grantplatform.com to apply. Don’t miss this opportunity to take your startup to the next level with Lagos Innovates.
