BoI, NOTAP partners to commercialise R&D

 

imageThe Bank of Industry(BoI) and the National Office for Technology Acquisition and Promotion (NOTAP) are partnering on commercialization of selected Research and Development, (R&D) results emanating from Nigerian research establishments.

 

The Director General of NOTAP, Dr. DanAzumi Ibrahim in his opening remarks during a one day interactive forum between NOTAP, BoI and inventors said that the idea was in pursuance of NOTAP’s mandates to transform Nigeria into a knowledge based economy.

 

The two agencies had earlier agreed to identify some demand-driven and marketable R&D results within NOTAP’s databank for further evaluation and possible commercialization by BoI.

 

Dr. Ibrahim stated that NOTAP’s action was in tandem with the global shift from resource based economy to knowledge based economy and in fulfillment of the resolution reached with BoI.

 

He added that 38 viable business based inventions had been identified by his agency and had screened the selected inventions with BoI and that out of the 38 inventions selected, further evaluation and scrutiny was carried out to prune the number to seven inventions.

 

He encouraged the universities, research institutes and general public to imbibe patent culture through establishment of Intellectual Property and Technology Transfer Offices (IPTTOs), Intellectual Property Training and Intellectual Property awareness campaign.

 

In his remark, the North Central Regional Head of BoI, Mr. Kings Jack said BoI, as a development bank, is collaborating with agencies like NOTAP because that regularly interacts with the industry and knows their challenges.

 

He said BoI had assisted many Nigerian industrialists in upgrading their production facilities and also in setting up small scale businesses through provision of soft loans and training of young entrepreneur.

 

Mr. Jack further stated that considering the economic downturn in the country today, agricultural mechanization was the solution, adding that a country that is incapable to feed her citizenry is prone to crises.

 

He urged the inventors to interact further with BoI offices nearest to their locations for further guides.