A groundbreaking report has been launched to bridge critical gaps in Nigeria’s research, innovation, and commercialization landscape. The Nigeria Impact Investing Research and Industry Collaborative (NIIRIC) Stakeholder Mapping Report, spearheaded by the Impact Investors Foundation (IIF), provides an in-depth analysis of Nigeria’s research ecosystem, identifying major stakeholders and proposing strategic pathways to enhance collaboration and commercializatio.
Transforming Research into Market-Ready Innovations
Funded under the third phase of the UK Government’s Research and Innovation Systems for Africa (RISA) Fund’s Sustainable Systems for Research and Innovation Financing Project (SSRIF II), the report sheds light on structural inefficiencies that hinder the translation of research into tangible economic gains. It highlights key public and private sector players, academia, government institutions, and industry leaders, underscoring the need for cohesive partnerships to drive research commercialization.
Key insights from the report include:
- Lack of structured pathways for commercialization, limiting the economic impact of research findings.
- Absence of a centralized platform, leading to fragmented efforts and missed opportunities for scaling innovations.
- Weak intellectual property protection and unclear commercialization guidelines, discouraging private-sector investment in research.
- Inadequate funding and outdated infrastructure, preventing research institutions from optimizing their contributions to economic development.
- Strategic partnerships and dedicated financing mechanisms are essential for transforming research into commercially viable solutions.
A Call for Action: Strengthening Collaboration Across Sectors
The report calls for alignment between academia, industry, and policymakers to create a thriving research commercialization framework. It emphasizes the need for targeted investments, policy reforms, and a robust intellectual property system to unlock Nigeria’s full potential in innovation-driven economic growth.
“This report is a game-changer for Nigeria’s research ecosystem. By mapping out key players and identifying the challenges they face, we now have a clear direction to foster collaboration and create a thriving research commercialization framework,” said Etemore Glover, CEO of the Impact Investors Foundation.
Oretanya Oreva, Director of the Lagos Business School Sustainability Center and Lead of NIIRIC’s Capacity Building Steering Committee, reinforced the commitment to leveraging these insights: “Our priorities are to promote local innovation, scale impactful research, and cultivate a robust collaboration ecosystem between researchers and industry.”
Building a Future-Ready Innovation Ecosystem
With Nigeria’s economy increasingly dependent on knowledge-based industries, the report’s findings provide a crucial roadmap for harnessing research and innovation as catalysts for economic transformation. By fostering collaboration, ensuring sustainable financing mechanisms, and bridging academia-industry gaps, Nigeria can unlock new frontiers in science, technology, and economic development.
The full NIIRIC Stakeholder Mapping Report is now available for download at http://bit.ly/NIIRICREPORT.
For further inquiries, contact Kingsley Godwin, Program Manager, NIIRIC, via kgodwin@impactinvestorsfoundation.org.
About the Impact Investors Foundation (IIF)
The Impact Investors Foundation (IIF) is a leading organization dedicated to advancing impact investing in Nigeria, fostering knowledge-sharing, policy advocacy, and capital mobilization to support sustainable investments. Through strategic partnerships and initiatives, IIF has played a pivotal role in positioning impact investing as a driver of economic growth and innovation in Nigeria.
About the Nigerian Impact Investing Research and Industry Collaborative (NIIRIC)
The Nigerian Impact Investing Research and Industry Collaborative (NIIRIC) is the country’s foremost network dedicated to strengthening Nigeria’s impact investing, research, and innovation ecosystem. NIIRIC brings together academia, businesses, think tanks, policymakers, and civil society to enhance industry collaboration, drive policy reforms, and promote research commercialization as a key pillar of economic development.
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