The Lagos State Ministry of Innovation, Science and Technology has engaged stakeholders to review and finalise the Lagos Innovation Bill to empower startups, foster investment and drive economic growth.

The ministry convened a stakeholder engagement session on the bill, bringing together a diverse group of key players from the technology and innovation ecosystem, including entrepreneurs, investors, policy experts and industry leaders.

During the session, the ministry presented a refined draft of the bill, inviting participants to provide feedback, critique and recommendations.

The Commissioner for Innovation, Science and Technology, Olatunbosun Alake, who delivered the keynote presentation, said the bill, once enacted, would institutionalise innovation governance, create a more enabling environment for startups, foster investment and position Lagos as a leading innovation hub in Africa.

He said the gathering marked the latest in a series of collaborative meetings aimed at shaping the proposed legislation, which is designed to establish a comprehensive legal and regulatory framework to support innovation-driven development across Lagos state.

He said the open dialogue reflects the government’s inclusive approach to policy formulation, ensuring that the final bill aligns with the needs and realities of the innovation community it seeks to serve.

Citing global case studies, including the evolution of Silicon Valley, he explained that Lagos must adopt a structured, intentional approach to innovation that moves beyond pilot projects and scattered initiatives.

“If we are serious about building an innovation economy, then we must create systems that allow ideas to become inventions, inventions to become startups, and startups to scale into global businesses. That pipeline must be enabled by law,” Alake stated.

He added that following up on the Nigerian Startup Act, the Lagos Innovation Bill covers the full spectrum of the innovation pipeline, including the universities, and industries among others.

He said the bill goes beyond startups as it covers knowledge institutions, research and development, digital infrastructure, innovation funding and the legal frameworks to protect ideas and attract investment.