The Lagos State Government sets its sights on helping Nigerian startups attract between $2 to $3 million in investments during GITEX Global 2024, currently taking place in Dubai, UAE.
Lagos State Commissioner for Innovation, Science, and Technology, Tunbosun Alake, outlines these goals, citing the success of startups supported by the government in last year’s event.
Alake highlights that Nigerian startups performed well at GITEX 2023, with some raising significant funds—one securing $100,000, another winning $50,000, and another in advanced talks to raise $1.5 million. “This year, we aim for even bigger investments, hoping to reach the $2 to $3 million mark,” he says.
The Lagos government has brought five promising startups and nine other companies to showcase their innovations at Expand North Star 2024, the startup-focused section of GITEX. These startups include an ag-tech company making fresh food more accessible, Seamfix, a digital identity platform, and RAIN (Robotics and Artificial Intelligence Nigeria), specializing in AI and robotics training. Other startups include Chao, a platform for quick and reliable food and medicine deliveries on campuses, and Shekel Mobility, which simplifies car financing in Africa.
Alake explains that the selection criteria for these startups focused on companies with unique value propositions, strong market fit, and Nigerian or Lagos-based founders. Many of the chosen startups are in their seed or pre-seed funding stages.
GITEX Global, organized by the Dubai World Trade Center, is one of the largest tech events worldwide, bringing together industry leaders, startups, investors, and governments. Expand North Star, the startup and investment arm of the event, hosts over 1,800 startups and more than 1,200 investors, collectively managing over $1 trillion in assets this year.
