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 in my office, and I can tell you that their poise and clarity would humble many seasoned executives.
“That outcome was not luck. It is what happens when training, infrastructure and opportunity are aligned on one campus, over time, on purpose,” she said.
Ogunsola said universities could no longer limit their responsibilities to teaching and research but must also ensure that knowledge generated within their walls translates into solutions to societal challenges and sustainable enterprises.
She described NITHUB, established in partnership with the National Information Technology Development Agency, as the university’s innovation engine, noting that it focuses on talent development, product innovation, and startup incubation through training in artificial intelligence, blockchain, data science, software engineering, the Internet of Things, hardware prototyping and mentorship.
Meanwhile, the Director of the National Information Technology Hardware and Software Development Centre, NITHUB, University of Lagos, Dr Victor Odumuyiwa, has disclosed that the innovation hub has trained over 20,000 Nigerians in digital skills and supported more than 100 startups in the last five years.
The director, who reflected on the hub’s journey since assuming office as its pioneer director five years and five months ago, said NITHUB had grown from an institution with no staff, programmes or track record into one of the country’s leading university-based innovation hubs.
According to him, the centre has empowered more than 20,000 people with technology skills, developed over 15 innovative products and services, and incubated over 100 startups within the period.
He said, “In five years, this hub has empowered over 20,000 people with technology skills. Not certificates gathering dust, but skills that pay.
“Our alumni are today writing code for international firms, earning in currencies their parents once only saw on exchange-rate boards, and lifting entire families as they rise.”
Speaking further, he said, “We have developed over 15 innovative products and services within NITHUB, real solutions conceived, designed and built in health, finance, energy and education.
“We have supported over 100 startups through pre-incubation, incubation and acceleration.
“Some of them are in this hall right now, standing beside their products. Five years ago, they were ideas in notebooks. Today they are employers of labour.”
The three-day event, which commenced on Tuesday, featured technology exhibitions, panel discussions and networking sessions aimed at connecting innovators with investors, industry leaders and other stakeholders in the technology ecosystem.
Panellists at one of the sessions included the Founder of GiDiPIN and Patchwork, Akinrodolu Oluwaseun; software developer, Simi Oluwatomi; Co-founder of Flow Research, Julian Duru; AI Product Developer and Innovation Strategist, Dr Olumide Okubadejo; and Babatunde Fatai of MTN Nigeria.
The experts discussed innovation, entrepreneurship, artificial intelligence, startup growth and strategies for building sustainable technology-driven businesses in Nigeria.
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