The Deputy Vice-Chancellor, Administration, University of Ibadan, Professor Peter O. Olapegba, fspsp, FNPA, has called on researchers to turn research into innovation and innovation into development for societal impact.
He made the call on behalf of the Vice-Chancellor, Professor Kayode Oyebode Adebowale, mni, fspsp, FAS, at the opening of the University of Ibadan Research and Development Fair, UI – Town Connect 2024.
The theme of the Research and Development Fair is “Re-focusing Research and Innovation Towards Scaling-Up Nigerian Brands for Commercial Value.”
Professor Olapegba reiterated that all researchers should focus their research on general values, which would lead to regional development and commercial value.
The DVC noted that the celebration served triple purposes: homecoming for alumni, networking for past, current, and future collaborators; as well as brainstorming to review future plans.
The Keynote Speaker, Pastor Olukayode Pitan, former MD/CEO, Bank of Industry, an alumnus of the University of Ibadan, an astute corporate and investment banker commended the University management for organising the Research Fair which he described as a significant and timely event that showcases the institution’s dedication to research, innovation, and knowledge sharing.
He noted that the Research and Development fair would provide an opportunity to draw attention to some of the revolutionary ideas developed through research and to bring these to the attention of industry in a bid to handshake and facilitate the abundant wealth trapped in ideas that have not been translated to commercial value.
He identified the dynamics involved in the scaling-up of Nigerian Brands as identification of products, goods, services and natural endowments that place the nation at comparative advantage over other nations, and to leverage such for economic and commercial advantage.
Pastor Pitan explained that the actualization of this requires a cordial/mutual handshake between the “gown” and “town,” through innovative research that is multidisciplinary and collaborative in nature targeted at providing value chain around the products of interest.
According to the keynote speaker, Nigeria offers numerous opportunities for synergy between the “gown” and “town” to follow this proven route of wealth and prosperity creation by tapping into this kind of collaboration on numerous valuable but neglected products that are capable of being developed into unique brands that will be sought after all across the globe.
He suggested that to refocus research and innovation toward scaling up Nigerian Brands for commercial value, investment in research and development, collaboration, government policy, capacity building, access to funds, market access and infrastructures development are steps to be taken.
Pastor Pitan assured that multidisciplinary/collaborative research,
development of long-term capacity building/training for researchers, connection between gown and town for application of already existing innovative ideas with small scale business end users, increasing long-term funding for local content research and giving of grant tax incentives to research and development related activities and services by the government will help to upscale the commercial value of Nigerian brands as desired.
The Chairman of the occasion, a Fellow of the Nigerian Society of Engineers, a generous alumnus of the University of Ibadan and global ambassador of African Art and Culture, Prince Engr. Yemisi Shyllon said UI stands out amongst other universities.
He commended the University management and members of the university’s “research and innovation” fair team for the success of their laudable efforts so far.
According to Prince Shyllon, the University of Ibadan, must have accumulated a large volume of innovations, inventions, research and development materials in the over 76 years of its existence, which must be waiting for revenue harnessing.
He, therefore, advised that the university management should further look into strengthening its commercialization of intellectual property.
This, he said, could be done with the creation of a technology transfer unit, functioning within the Vice Chancellor’s office, with a technology licensing officer of senior management cadre, appointed by the university.
He assured that this will further boost the hereto, largely untapped huge revenues waiting to be tapped by the University of Ibadan for its better global positioning, revenue generation, growth, and development.
The Deputy Vice-Chancellor, Research, Innovation and Strategic Partnerships, University of Ibadan, Professor Oluyemisi A. Bamgbose, SAN, stated that research is not just a tool for academic purposes. Rather, it plays a vital role in shaping economies and building industries.
She affirmed that through research, Nigerian Brands have the power to create novelties, innovate and expand the economic horizons of Nigeria, saying that through proper research, we can give the term “Made in Nigeria” a new meaning.
Professor Bamgbose said that the UI RESDEV Fair Committee was entrusted with the mandate of aligning town and gown for revolutionary national development by integrating the vocabulary of the University into the daily life of the town through an annual fair.
The Director-General, DAWN Commission, Dr Oluseye Oyeleye FIAP, FIIHP, said collaboration with UI RESDEV was to technically simplify the nexus between town and gown at the same time to disrupt the much-percieved dichotomy that exists between University researchers and development practitioners.
He reiterated that by re-focusing research efforts, fostering innovation ecosystems, and building strategic partnerships, Nigerian brands can be supported in realising their full potential.
Dr. Oyeleye called on researchers, entrepreneurs, government bodies, and the private sector to break the silos that separate research from commercialisation to bridge the gap between ideation and market impact for sustainable development.
The Chairman of the University of Ibadan Research and Development Fair, Professor Andrew. O. Fadoju stated that the programme was designed to bring together world class academics, researchers, accomplished industrialists, entrepreneurs, technocrats, artisans and students with a view of collaborating on how to harness the products of research and innovation for the benefit of the society and industry.
He said targeted stakeholders were government, industry, and the general populace to ensure better partnerships and collaborations in order to improve the world we all live in.
A goodwill message was delivered by the Oyo State Commissioner for Trade, Industry, Investment and Cooperatives through Mr William Albert Olujide. The Vice-Chancellor of Kabarak University, Nakuru, Kenya, Professor Henry Kiptiony Kiplangant also gave a good will message.
A special Guest of Honour at the opening of the UI RESDEV Fair was an alumnus who is making waves in industry, Mrs Yemisi Iranloye, CEO, Psaltery International Company Ltd.
Mrs Iranloye, who obtained a degree in Biochemistry from UI, charged the students to be tenacious in whatever they do, have confidence in themselves, and be ready to persevere in whatever they do.
The high point of the UI TOWN CONNECT 2024 was the presentation of awards with cash prizes to 3 out of 6 students teams that participated in the UI RESDEV Gen-Z Hackathon 2.0 Grand finale.
The awards were in 4 categories:
1st position with a cash prize of ₦200,000 – Team Dokia
2nd position with a cash prize of ₦150,000 – Team Clime Technology
3rd position with a cash prize of ₦100,000 – Team Uniguide
Most Innovative Idea with a cash prize of ₦50,000 – Team Dokia
UI RESDEV Gen-Z Hackathon 2.0 Grand finale participants included:
● Team Dokia- 79.875 points
●Team Clime Technology – 74.625 points
● Team Uniguide – 72.50 points
● Team Edugaze – 70.25 points
● Campus Market Place – 65.125 points
●G – Stream – 60.5 points
The University of Ibadan Research and Development Fair : UI Town Connect 2024 spanned two days with many activities that involved the staff, students, departments, faculties, units and centres of the institution, as well as participants from outside of the University Community.
