Peter Onwualu, the president of the African University of Science and Technology, says commercialising research output is key to their contribution to national economic growth.

Mr Onwualu said this on Thursday in Abuja during an interview.

He said that informed the university’s decision to organise Summit X to bring together researchers, entrepreneurs, industries, and other key stakeholders. It would hold between April 22 and 24 in Abuja.

“Nigeria, as of today, has more than 300 universities. We have more than 200 research institutes. We have polytechnics, Colleges of Education and some large-scale industries where research and development go on.

“The majority of the research outputs or research findings within Nigeria’s research community are still in these institutions, begging for commercialisation.

“We decided, as a university, that one of the ways to solve this problem is moving research from where—the laboratory, library or in the researcher’s office, to where it belongs– the marketplace,’’ he said.

He said the essence of innovation was to transform knowledge, creativity, and new ideas into valuable solutions, products, or processes that generate significant improvement, economic value, or societal impact.

Mr Onwualu said the upcoming summit would help in bridging the gap between research and industry.

He said the summit would showcase transformative ideas and technologies in sectors such as technology and digital innovation, healthtech, clean energy, agriculture, creative industries and finance.

“Some of the funding institutions and agencies will be there to see the kind of research and development products that are coming out from the Nigerian and, in fact, Africa’s research ecosystem.

“We believe by doing this, people will now see and begin to work with one another in terms of commercialising these innovations.

“Some years ago, we started an expansion process which included innovation. Today, we have a university-based innovation hub called AUST Inspire.

“That innovation hub was established with support from the World Bank, the African Development Bank and a number of other organisations. We promote entrepreneurship,” he stated.

AUSTinspire is AUST’s Technology Business Incubator and innovation hub in Abuja, Nigeria.

It was established to bridge the gap between academic research and industrial application and acts as the university’s primary channel for engaging with the private sector to turn research findings into commercial products. 

(NAN)