The disconnect between the organised private sector and innovators is causing insufficient wealth creation and low value creation to the country’s economy, the Director General of the National Office for Technology Acquisition and Promotion (NOTAP), Dr Danazumi Mohammed Ibrahim, has said.
Ibrahim disclosed this at the stakeholder forum on promotion and commercialization of Research and Development (R & D) results on Tuesday in Abuja.
The Director General said there was a strong need to link industry with the National Innovation System (NIS) to encourage demand-driven research and development projects for commercialisation.
“The future for the Nigerian economy heavily depends on its ability to acquire and apply technology indigenously to produce goods, processes, devices and provide services,” he said.
But the NOTAP boss said identifying venture capital, access to risk/research funds and technology transfer licensing are crucial for successful commercialisation of research and development.
NOTAP is coordinating feasibility studies to confirm the economic viability of projects and provide relevant information for entrepreneurs and financiers towards linking innovators with markets.
Dr Ibrahim also said NOTAP is establishing pilot projects to demonstrate the economic viability of research results and inventions.
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