The Vice-Chancellor of the University of Lagos, Prof Folasade Ogunsola, has disclosed that eight student-led startups from the institution secured N50m under the Federal Government’s Student Venture Capital Grant scheme, describing the feat as evidence of the university’s growing innovation ecosystem.
Ogunsola made this known on Tuesday while delivering her opening address at the maiden NITHUB Innovation Fair 2026 held at the university.
Speaking on the theme, “University of Lagos as a Platform for Innovation and Enterprise,” the vice-chancellor said the university was deliberately transforming itself from a conventional academic institution into a hub where ideas are nurtured into viable businesses.
She revealed that when the Federal Government launched the scheme, more than 30,000 applications were received nationwide, with only 45 innovators selected.
According to her, eight of the successful innovators were from UNILAG, attracting a combined N50m to ventures founded by the institution’s students.
“I hosted those young founders
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