FG develops plan to commercialise technology innovation

products as well as the level of imported technological know-how, the Federal Government has developed a blueprint for commercialising the nation’s technology research results.

Titled, “Blueprint for Linking the Nigerian Knowledge Infrastructure to Industry,” the document prepared by the Ministry of Science and Technology said for the process to succeed, it was necessary to network with corporations and potential customers to identify needs, wants and gaps.

The blueprint said, “The future of the Nigerian economy heavily depends on its ability to acquire and apply technology indigenously to produce and provide services.

“To achieve this, a well focused National Innovation System in which technology acquisition is well matched to the needs of the market and industry is necessary.”

It added, “A deliberate strategy that will move the results of the Research and Development to industry is imperative so that the R&D efforts translate to the desired creation of jobs and wealth on a sustained basis.

“This technology protection and commercialisation process though highly desirable is expensive, but for Nigeria to attain its well-set Vision 20-2020, investing to ensure that the process is effective is inevitable.”

The Ministry of Science and Technology is expected to build the network and provide the coordination among all research institutions, including research undertaken in universities and the private sector.

According to the strategy document, since commercialisation activities are time consuming and expensive, clear-cut funding opportunities such as venture capital, risk funds and research funds are necessary.

It added that a structure that would enable the ministry to disseminate the know-how and innovation products to consuming government agencies and the private sector was required.

The National Research and Development Coordination Council, it adds, provides such a structure, which will also enhance backward integration, local content, technology transfer and technology domestication.”

Some of the strategies for commercialisation identified in the document include outright sale of innovation, consulting, licensing, incorporating a joint venture company and encouraging the development of independent spin-out companies.

According to the blueprint, actions to be taken in the medium term – 2011 to 2015 – include the establishment of a National Expert Team on Technology Commercialisation.

Members of the team are to be drawn from academic institutions, the public service, relevant ministries, Organised Private Sector and international development partners.

The steps also include conducting a nationwide survey for full details of viable research results for commercialisation; establishment of an intellectual team to screen and prune the list of products, patenting and protecting selected intellectual property rights, and where necessary, providing funds for building and testing prototypes.

Others are engaging high profile technology marketing consultants to market selected Intellectual Property Rights, engaging branding and packaging consultants, scaling up of businesses and full commercialisation.

As part of the efforts to take innovation to the market, the Minister of Science and Technology, Prof. Mohammed Abubakar, briefed potential investors and the scientific community on the process of commercialising some research results.

At the meeting, Abubakar disclosed that a preliminary meeting to work out funding options had been held with the Central Bank of Nigeria.

He added the Ministry of Foreign Affairs was making arrangements to persuade some embassies in Abuja to buy into the commercialisation initiative.

Other sources being explored for funding, according to the minister, include the National Economic Reconstruction Fund and the Bank of Industry.

He said, “NERFUBD is studying the commercialisable R&D results and the blue print on commercialisation with a view to collaborating with the ministry on funding.

“The Bank of Industry has pledged to collaborate with the ministry on its vision of taking R&D from the laboratory to the market.”

More than 132 research-based products are scheduled for commercialisation by the Ministry of Science and Technology.

Source : Punch