How Unilag’s Innovation-to-Market boosts startups funding with N801m

The University of Lagos (UNILAG) is making waves in Nigeria’s innovation and entrepreneurship ecosystem through its transformative Innovation-to-Market (I2M) programme, which has empowered local innovators and startups with over N801 million in funding support.

The I2M programme, according to Abiodun Gbenga-Ilori, the project director at Innovation-to-Market project is designed to bridge the gap between research and commercialisation, the initiative is rapidly positioning the university as a hub for practical innovation, entrepreneurship, and sustainable economic impact.

Speaking during one of the Project I2M Incubator Programme startup pitch competition cohorts held recently at the Akoka campus of the university, Gbenga-Ilori explained that the project has boosted innovators and startups capital funding with over N801 million ($481,000) since commencement of the initiative.

She further explained that project I2M under the Innovation and Technology Management Office (ITMO) of UNILAG was established with a mission to support, nurture, and propel Nigerian innovation.

“Our goal is to bridge the gap between great ideas and market-ready solutions by equipping our nation’s brightest minds and researchers with the tools, guidance, and support they need,” she said.

This project, funded and supported by the UK government through Research and Innovation Systems for Africa, has provided an invaluable platform for innovators across Nigeria.

Gbenga-Ilori, the visionary of the project said since inception, the management have been privileged to witness inspiring achievements from their incubator programme alumni.

“In our last cohort, 50 participants completed the programme, with innovations across sectors like healthcare, agriculture, clean energy, and education. Today, many of these ventures are thriving, creating jobs and addressing pressing needs across Nigeria.

“Of those innovators, 10 startups have scaled and have gone ahead to create additional job opportunities.

“A total of 25 permanent and nine temporary job opportunities have been created (asides the startup founders). A total capital of $481,000 has also been raised by our incubated startups,” she said.

David Alozie, the director for innovation at I2M explained that within a period of 12 months the project has been able to push over 1,000 innovators to the market.

Abdulakeem Amuda, the I2M director of incubator programme said the I2M project is empowering the ecosystem to solve societal challenges, earn a living and make life better for people.

“The project I2M is a very big ambitious programme to specifically address the needs of street innovators, and help curb unemployment crisis in the country by creating jobs through the innovators taken to the market,” he said.