The Impact Investors Foundation (IIF) has launched a groundbreaking initiative aimed at transforming Nigeria’s innovation and investment ecosystem. This new project, known as the Sustainable Systems for Research and Innovation Financing (SSRF II), was officially introduced in Lagos, the country’s commercial hub.
In addition to this, the Nigerian Enterprise Support Organisation (ESO) Collaborative was also launched. This pivotal initiative, supported by a grant from the Foreign, Commonwealth and Development Office’s (FCDO) Research and Innovation Systems for Africa (RISA) Fund, seeks to establish sustainable systems for financing enterprise and innovation across both Nigeria and Ghana. The RISA Fund, funded by the UK International Development, is dedicated to advancing research and innovation ecosystems in Africa.
The unveiling, which took place at the Four Points by Sheraton in Lagos, was attended by notable stakeholders, including Alice Omisore Dada (RISA Project Country Lead), Charles Odili (Director-General of SMEDAN), Etemore Glover (CEO of IIF), Engr Afolabi Oladele (Chair of IIF), Chisom Udemezue (FCDO Nigeria Technical Advisor), and Benson Adenuga (representative of British International Investment).
Speaking at the event, Etemore Glover described the ESO Collaborative as a transformative platform designed to foster collaboration among key players in enterprise development, investment, and innovation. She emphasized that this initiative is poised to create a dynamic ecosystem that promotes technological advancements, sustainable development, and economic growth.
“The ESO Collaborative is more than just a project; it’s a movement towards building a thriving environment where innovative ideas can flourish, and businesses can achieve their full potential. This aligns with our mission of driving Nigeria’s economic development,” Glover stated.
Alice Omisore Dada echoed this sentiment, noting the RISA Fund’s commitment to strengthening research and innovation systems across Africa. She highlighted the importance of the SSRF II project in bridging gaps between researchers, investors, policymakers, and entrepreneurs to stimulate inclusive growth.
The event also featured panel discussions on future strategies for research and innovation financing, goodwill messages from prominent figures in the sector, and networking opportunities. Key participants included representatives from FCDO, successful entrepreneurs, leading investors, and government officials.
About the ESO Collaborative:
The Nigerian Enterprise Support Organisation Collaborative aims to enhance the capacity of enterprise support initiatives in the country. By fostering partnerships among the government, private entities, and other enterprise support organisations, it seeks to create a robust framework for enterprise growth and innovation.
About the RISA Fund:
The Research and Innovation Systems for Africa (RISA) Fund is dedicated to improving research and innovation systems in six African nations, including Nigeria. It collaborates with institutions such as universities, think tanks, and NGOs to provide actionable research and influence policies.
About the Impact Investors Foundation:
The IIF is committed to unlocking private capital for social investments in Nigeria. Over the past five years, it has been instrumental in driving impact investing by collaborating with stakeholders across government, private, and social sectors. Its initiatives, including the Nigerian National Advisory Board for Impact Investing (NABII), aim to overcome barriers and unlock opportunities for impactful investments.
This latest launch marks a significant milestone in Nigeria’s journey toward fostering a sustainable and innovation-driven economy.
