The federal government has presented N43, 500, 000 grants to encourage and assist 121 indigenous innovators and inventors, drawn from the six geopolitical zones of the country, that have uncommon ingenuity that could have positive impact on the Nigerian economy and Nigerians.
Speaking during the award ceremony for the beneficiaries of 2017 Presidential Standing Committee on Inventions and Innovations (PSCII) grant, yesterday, in Abuja, the minister of Science and Technology, Dr. Ogbonnaya Onu, noted that the ceremony was very important in creating entrepreneurs, who in turn can create new jobs, saying new businesses will be created through successful commercialisation of their inventions and innovations.
“This grant may not be all that you need to improve on your inventions and innovations but it is an important recognition of your creativity, hard work and commitment to the realisation of a dream that you have lived with for a long time,” he added.
The minister urged the awardees to obtain patents for their products by protecting their intellectual property so that venture capitalists can help in commercialising their inventions and innovations. He also charged them to seek the assistance of a parastatal under the ministry, the National Office for Technology Acquisition and Promotion (NOTAP) if they encounter challenges with the registration.
Earlier, permanent secretary of the ministry, Mr Bitrus Bako Nabasu, who chairs the PSCII, stated that the committee received a total of 590 applications for the 2017 award, saying it was trimmed down to 121 after screening by the technical sub-committee (TSC).
Nabusu said: “The selected inventors/innovators were grouped into three categories. Category one has 24 number of awardees with an award grant of N500,000 per awardee. Category two has 54 number of awardees with an award grant ranging between 300,000 and N400, 000 per awardee while category three has 43 number of awardees with an award grant of between N200, 000 and N250, 000 per awardee. In total N43, 500, 000 will be given as grants to these 121 inventors and innovators who have shown exceptional ingenuity.”
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