He made the call in his keynote address at the maiden Research and Innovation Fair/Conference of Michael Okpara University of Agriculture Umudike, Abia State.
According to him, cooperation and collaboration with the private sector, commercialising and licensing of technologies and knowledge developed in schools to industries can help address the issue of university funding.
He further posited that by using the Quadruple Helix Concept, which promotes building an ecosystem, and with the private sector as the engine of growth, academia can partner with the private sector.
“The industry can use the universities for research and development. The universities can also use the laboratories of companies to enhance their research.
Together these partners can create rewarding relationships.
“The collaboration between the academia and the industry will lead to the commercialisation of innovative research, generate patents, licences and revenue for all the partners including the university which is the researcher’s employer.
Also Read:
- Instagram celebrates African women in ‘Made by Africa, Loved by the World’ 2024 campaign
- Delta: Kidnapper killed, suspected gunrunner arrested
- Suspected robber posing as passenger to snatch tricycle arrested
- Europa Final: Boniface, Lookman to clash as Leverkusen, Atalanta battle for glory
- Police uncover ‘yahoo yahoo’ training centre, arrest ‘teachers’, 29 others
“The company makes money, the researcher makes money and the university generates sustainable funding.”
He also stressed the importance of researchers and universities commercialising specific inventions through intellectual property licensing and the formation of spin-out companies.