Since its inception, the University of Lagos (UNILAG) Innovation to Market (I2M) initiative has provided over N800 million in capital funding to innovators and startups. Dr Abiodun Gbenga-Ilori, the project director, revealed this during the I2M pitch competition held at the Arthur Mbanefo Digital Research Centre.
She explained that the initiative, launched under UNILAG’s Innovation and Technology Management Office (ITMO), aims to support and propel Nigerian innovators. Funded by the UK government through the Research and Innovation Systems for Africa (RISA), the program has become a vital platform for innovators nationwide.
Achievements of The Initiative
Gbenga-Ilori highlighted the program’s achievements, noting that 50 participants in the last cohort completed the program with innovations in sectors such as healthcare, agriculture, clean energy, and education. Many of these startups are now thriving, addressing critical issues and creating jobs in Nigeria. She added that 10 startups have generated additional employment opportunities, resulting in 25 permanent and nine temporary jobs, excluding the startup founders. The startups have collectively raised $481,000 in capital.
Prof. Sunday Adebisi, Director of Industry Partnerships, emphasised that the I2M project aims to empower Nigerian youths and inspire confidence in their abilities. Similarly, David Alozie, Director of Innovation, stated that within a year, the initiative connected over 1,000 innovators with market opportunities.
In the pitch competition for cohort one, 20 top innovations were awarded N1.6 million each in grants. OOf562 applications received, 138 participants were trained, with 59 advancing to the incubator program.
