Applications are now open for the 2nd Cohort of Lagos State Science Research and Innovation Council award. The winner of LASRIC Cohort II will, subject to the Terms & Conditions, receive funding of up to N5,000,000 ($13,000). Lagos State Science Research and Innovation Council (LASRIC) is an initiative of the Lagos State Government of Nigeria set up to pursue a science research and innovation agenda to address some of its developmental challenges and needs through the application of science research and innovation in Lagos State.
“We are looking for great ideas that could be related but not limited to Agriculture, Education, Healthcare, Housing, and Transportation,” the council said in a statement.
Startups The Council Is Looking Out For
To be eligible for the LASRIC award, the applicant must:
- 1. Be a citizen of Nigeria
- 2. Submit their application which must be their original work
- 3. Have an MVP (minimum viable product) i.e. you have customers
- 4. Be able to fund his/her/team travel expenses and other associated costs
- 5. Understand the objectives of LASRIC and what we stand for; and
- 6. Be able to represent LASRIC as an Ambassador.
In addition, the Individual must provide:
- Valid means of identification (LASRRA Card is acceptable).
- Full disclosure of criminal records, if any.
- Evidence of payment of personal income tax till date (if innovator is gainfully employed).
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What are the assessment criteria?
- Vision : Problem — how big as in how many people affected by it? Solution — how unique and commercially viable.
- Proposition : How valuable to the target customers.
- Organisation : Ability to execute.
- Economics : Ability to execute.
- Milestones : Achievements to date and forecasts.
How To Apply
Interested startups should apply should apply by clicking here.
Application closes : Wednesday, 21st October, 2020.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer