Patenting and Technology Entrepreneurship in Nigeria: Issues, Challenges and Strategic Options

Abstract

Patent is a useful indicator of scientific outputs and techno-economic activities of countries. It is used to foster linkages between research and industrial organisations in an economy. However, it has not been adequately utilised by several developing countries in Africa, including Nigeria. Commercialisation of research results could be done through diverse means including technology licensing and spin-off activities. Nevertheless, Nigeria with several universities and research institutes has developed few inventions without deriving much benefit from them. This could be as a result of low investment in innovation infrastructure such as technology incubators and science parks, and low patent culture among researchers. The commercialisation process is also impeded by lack of venture capital, poor entrepreneurship culture among researchers, and poor linkage among the elements of National Innovation System (NIS). This article proposes deliberate efforts by the government to create platforms for interaction between research institutions and industries through science parks, technology incubators and increased venture fund. It is concluded that full implementation of the new science, technology and innovation policy is a necessary condition for addressing innovation gap and the challenges of technology commercialisation in Nigeria.