What Exactly is LSETF?

The Lagos State Employment Trust Fund (LSETF) https://lsetf.ngwas formed in 2016 by Lagos State Employment Trust Fund Law to give financial aid to Lagos State residents.

Lagos State Government will give a starting capital of N25 billion over four years to the Fund. The government will also seek extra money from different sources, such as donor partners, development agencies, business groups, and individuals.

Read more about grants won by Atom technologies https://atomislife.com/news-media/

LSETF is big on entrepreneurship and has been improving access to capital while strengthening the capacities of MSME’s. They also help in creating and designing policies to improve the business environment in Lagos State.

LSETF does not only focus on businesses but is also big on creating job opportunities. This Fund will also develop programs to train and place unemployed Lagos citizens in jobs. Asides from that, it will also set up programs to promote innovation in the Lagos ecosystem. Lagos innovates is the name of the innovation program.

Lagos Innovates

It is a set of programs aimed at helping technology and innovation-driven businesses in Lagos State, such as Atom Technology. This seeks to improve Lagos’ status as Africa’s premier startup hub by giving access to high-quality infrastructure, learning, finance, and networks.

The good news is, Lagos-based co-working space, innovation hub owners and operators are able to apply for one of Lagos Innovates’ first three programs. The programs include Workspace Vouchers, Hub Loans, and Events Sponsorship. The process is an open and merit-based online application process.

This program is a series of tech startup-focused programs for entrepreneurs with great potential in search of launching the next unicorn in Lagos like Atom Technology.

Facilitation Access

Lagos Innovates helps the very best founders and startups by facilitating access to four things:

(1) High-quality workspaces and infrastructure,

(2) Learning,

(3) Early stage investment capital

(4) Investor and peer networks.

Programs are open to enterprises that show a great deal of innovation and are less than three years old and based in Lagos.

The Selection Process

A panel of judges from the Lagos startup ecosystem graded our applications based on four criteria’s.

(1)The market potential.

(2) Strength of the entrepreneur or the co-founding team.

(3) Progress so far.

(4) Strength of a strong reference from a third party.

Here, Atom Technologies [url]atomislife.com[/url]achieved a total score of 50 points which led to winning the LSETF 75k grant.

We look forward to more wins from the Atomic team.