Discover the LASRIC Innovation Challenge! Apply for funding to develop scalable solutions in the circular economy, agritech, and emerging technologies. Deadline: 31st January 2025.
Are you a visionary innovator with groundbreaking ideas that could shape the future? The Lagos State Science Research and Innovation Council (LASRIC) invites bold thinkers, entrepreneurs, and startups to apply for funding and support under its 2025 Innovation Initiative. This transformative program aims to foster innovative solutions that address real-world challenges while promoting sustainable development.
Overview of the LASRIC Innovation Challenge
Key Focus Areas | Opportunities Offered |
---|---|
Circular Economy: Waste reduction, recycling, and sustainable resource use. | Funding to propel innovation journeys. |
Agritech and Food Security: Boosting food sustainability, productivity, and supply chains. | Support to develop scalable and impactful solutions. |
Emerging Technologies: Blockchain, AI, machine learning, and quantum computing. | The chance to represent Lagos globally as a LASRIC ambassador. |
Key Takeaways
- What is LASRIC? A Lagos State initiative that funds innovative ideas with real-world impact.
- Focus Areas: Circular economy, agritech, food security, and emerging technologies.
- Benefits: Funding, mentorship, and international representation opportunities.
- Eligibility: Open to Nigerian citizens 18 years or older operating businesses in Lagos.
- Deadline: Applications close on 31st January 2025.
Focus Areas for Innovation
1. Circular Economy
Do you have an idea that tackles waste management or promotes sustainability? LASRIC is particularly interested in innovations that enhance recycling practices, reduce waste, and encourage sustainable use of resources. This category aims to address Lagos’ environmental challenges through practical, scalable solutions.
2. Agritech and Food Security
With a rapidly growing population, food sustainability is a critical issue. LASRIC seeks solutions that improve agricultural productivity, streamline supply chains, and ensure consistent food security. This focus area supports innovations that promise to revolutionise the agricultural sector and contribute to sustainable food systems.
3. Emerging Technologies
Emerging technologies such as blockchain, artificial intelligence (AI), machine learning, quantum computing, and cloud computing hold immense potential for driving innovation. LASRIC is looking for disruptive ideas that harness these technologies to create transformative impacts across various industries.
Why Apply for the LASRIC Innovation Challenge?
1. Access to Funding
Selected innovators will receive financial support to develop their ideas into viable solutions that address pressing challenges.
2. Development and Mentorship
In addition to funding, participants will gain access to expert mentorship and resources to refine their innovations, ensuring scalability and long-term impact.
3. Global Representation
Successful applicants will have the unique opportunity to represent Lagos State on global innovation platforms as official LASRIC ambassadors.
Eligibility Criteria
To qualify for the 2025 LASRIC Innovation Challenge, applicants must meet the following criteria:
- Age and Citizenship: Must be a Nigerian citizen aged 18 or older.
- Identification: Provide a valid means of identification, including a LASSRA Card.
- Business Operations: The business must be registered and operating in Lagos State.
- Minimum Viable Product (MVP): Applicants should have a functioning MVP with active customers.
- Financial Readiness: Teams must fund their travel and related expenses.
- Tax Compliance: Evidence of Personal Income Tax payment in Lagos State is required.
- Originality: Applications must be unique, innovative, and aligned with LASRIC’s goals.
- Debt-Free Status: Applicants should not have outstanding debts from Lagos State programs (e.g., LSETF loans).
- Disclosure of Records: Any criminal records must be disclosed during the application process.
By adhering to these criteria, LASRIC ensures a fair and transparent selection process, focusing on impactful and scalable innovations.
High-Impact Opportunities
Exceptional innovations with scalable, high-value solutions may be considered for equity investments through LASRIC. This unique opportunity enables startups to secure additional resources and guidance for long-term success.
How to Apply
Ready to take your innovative idea to the next level? The application deadline is 31st January 2025.
Visit the official LASRIC website at https://lasric.lagosstate.gov.ng/apply to submit your application and learn more.
Conclusion
The LASRIC Innovation Challenge represents a pivotal opportunity for innovators and startups to showcase their ingenuity and contribute to the advancement of Lagos State. With funding, mentorship, and global representation on offer, this initiative is a golden chance to scale your ideas and make a lasting impact.
FAQs
1. What is the primary goal of LASRIC?
LASRIC aims to support innovators and startups in creating scalable solutions to address key challenges in Lagos State.
2. What types of projects are eligible for funding?
Projects in the areas of the circular economy, agritech and food security, and emerging technologies are prioritised.
3. What happens if I miss the application deadline?
Unfortunately, late applications are not accepted. Be sure to submit your application by 31st January 2025.
4. Can international applicants apply?
No, only Nigerian citizens aged 18 or older operating businesses in Lagos State are eligible.
5. How will successful applicants be notified?
Applicants selected for funding will be notified via email and through the LASRIC website.