The Impact Investors Foundation (IIF) Nigeria has launched the Sustainable Systems for Research and Innovation Financing (SSRF II) project in Nigeria. The event took place in Lagos, the nation’s commercial capital.

The IIF also launched the Nigerian Enterprise Support Organisation (ESO) Collaborative, marking a significant milestone in advancing the investment and innovation landscape in the country.

The ESO Collaborative was established with grant funding from Foreign, Commonwealth and Development Office’s (FCDO’s) Research and Innovation Systems for Africa (RISA) Fund to scale sustainable systems for enterprise and innovation financing across Ghana and Nigeria in partnership with Impact Investing Ghana (IIGh). The RISA fund is implemented by the FCDO and is funded by the UK International Development from the UK Government.

The launch of the SSRF II project and the Nigerian Enterprise Support Organisation (ESO) Collaborative was held at Four Point by Sheraton in Lagos, Nigeria on Tuesday.

In attendance at the event on Tuesday July 2, 2024 were Alice Omisore Dada, Nigeria Country Lead, RISA Project; Charles Odili, Director-General/CEO, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN); Etemore Glover, CEO, Impact Investors Foundation (IIF); Engr Afolabi Oladele, Chair, Impact Investors Foundation (IIF), Chisom Udemezue, Technical Advisor, FCDO Nigeria; and Benson Adenuga, British International Investment (BII).

The Nigerian Enterprise Support Organisation (ESO) Collaborative implemented by Impact Investors Foundation, is a cornerstone of the Sustainable Systems for Research and Innovation Financing (SSRF II) project.

“We are excited to introduce the ESO Collaborative as a transformative initiative that will drive innovation and investment in Nigeria. Our goal is to build a thriving ecosystem where ideas can flourish, and businesses can grow, ultimately contributing to the nation’s economic development,” Etemore Glover, CEO of Impact Investors Foundation, said.

The ESO Collaborative aims to create a dynamic network of key stakeholders from the innovation, enterprise development and investment communities, fostering an ecosystem that supports sustainable development, technological advancement, and economic growth in Nigeria. By bridging gaps between researchers, innovators, investors, and policymakers, the ESO Collaborative seeks to enhance the capacity of local enterprises, stimulate economic activities, and promote inclusive growth.

Speaking at the event, Country Technical Lead, Nigeria, Alice Omisore, “congratulated the IIF team on the launch of their project and spoke about the RISA fund’s objectives which are to strengthen both the research and innovation ecosystems in Africa. She also confirmed RISA’s commitment to ensuring the successful implementation of the SSRF II project in Nigeria and Ghana.

The launch event featured goodwill remarks from prominent figures in the innovation and investment sectors, panel discussions on the future of research and innovation financing, and networking opportunities for attendees. Distinguished guests include representatives from the FCDO, leading investors, successful entrepreneurs, and key government officials.

As the ESO Collaborative embarks on this journey, it invites all stakeholders to join hands in building a sustainable, innovative, and prosperous Nigeria and create an environment where research and innovation are not only encouraged but thrive.

About Nigeria ESO Collaborative

The Nigerian Enterprise Support Organisation (ESO) Collaborative aims to improve both the quantity and quality of enterprise support initiatives in the country, thereby. facilitating collaboration between the government, other ESOs and builds the technical and financial capacity of Enterprise Support Organisations in Nigeria.

About The RISA FUND

The goal of The Research and Innovation Systems for Africa (RISA) Fund from the UK International Development is to enhance and support the R & I systems in the following six nations: South Africa, Ethiopia, Ghana, Kenya, Nigeria, Rwanda, and Kenya. The UK International Development provides funding for the programme, which runs from 2021 to 2025. African institutions addressing the most difficult social, economic, and health issues on the continent are receiving support from the RISA Fund. The Fund partners with research institutions, think tanks, universities, private sector organisations, and international and national NGOs. By building sustainable partnerships, and through its grants, the RISA Fund supports these institutions to access the knowledge, partners, investors, and markets they need to generate actionable research and influence policy.

About Impact Investors Foundation

The Impact Investors Foundation (IIF) engages and collaborates with key stakeholders, active in the impact investing space, to unlock private capital for social investments in Nigeria. IIF’s overarching goal is to promote the growth and excellence of impact investing in Nigeria. In the last 5 years, IIF has been playing a leading role in the impact investing ecosystem in Nigeria by convening stakeholders in government, private and social sectors to advance its growth. In furtherance of its effort to accelerate the market potential, the IIF established the Nigerian National Advisory Board for Impact Investing (NABII). The role of the NABII is to design and implement national strategies, regulations and policies that address the barriers inhibiting the growth of impact investing while unlocking opportunities for more impactful investments. Visit www.impactinvestorsfoundation.org to learn more.