Patenting And Technology Entrepreneurship : Issues, Challenges And Strategic Essay

5064 WordsJul 9, 201521 Pages
1 Review Article 2 Patenting and Technology Entrepreneurship in Nigeria: Issues, Challenges and Strategic 3 Options 4 5 6 Abstract 7 Patent is a useful indicator of scientific outputs and economic activities of countries. It provides 8 opportunity for linkages between research organisations and industry within National Innovation 9 Systems (NIS); but it has not been adequately utilised by several developing countries including 10 Nigeria. Technological entrepreneurship has to do with the commercialisation of research results 11 through diverse means such as incubators and spin-off firms. However, Nigeria with several 12 universities and research institutes develops many inventions without deriving much benefit 13 from them. This is due to low quality of the research outputs and the non-patenting of such 14 inventions. Also, the commercialisation process is impeded by lack of venture capital and poor 15 entrepreneurial culture among researchers. This paper proposes better funding for education and 16 research, the inclusion of business experimentation in Nigerian institutions to create a pool of 17 technological entrepreneurs within Nigeria’s NIS. The paper also advocates for full 18 implementation of the new Science, Technology and Innovation Policy to address the issues of 19 patenting and commercialisation of inventions in Nigeria. 20 Keywords: Patenting, technopreneurship, STI, Nigeria and commercialisation 21 22 1.0 Introduction 23 It is pertinent to note that

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