The University of Lagos has said its Project Innovation to Market (I2M), will empower innovators and researchers in Nigeria by providing commercialisation opportunities for their innovative products.
Innovation to Market (I2M) is an initiative of the University’s Innovation and Technology Management Office, funded by the UKAID’s Research and Innovation Systems for Africa. The project which was unveiled at the Faculty of Social Science is aimed at empowering innovators and researchers in Nigeria to take their innovative products to the market; as well as providing the support needed to create and commercialise innovations that solve societal problems.
The project prioritises innovations from Nigerian youths, women, and persons with disability.
Speaking at the event, the Vice-Chancellor, Prof. Folasade Tolulope Ogunsola, noted that the project was designed to address the challenges of innovations and translation of research works in Nigeria.
It is expected to bridge the gap between researchers and the marketplace, by managing innovations from the idea stage to their commercialisation.
Her words, “Project Innovation to Market, I2M, recognises the importance of sustainability and inclusivity in the innovation ecosystem. It aims to foster projects that have the potential to address pressing societal challenges while creating a positive impact. By encouraging participants to develop solutions that align with the United Nations Sustainable Development Goals and the Nations’ challenges, this program paves the way for innovations that not only drive economic growth but also contribute to a more equitable and sustainable future.
In her remarks, Deputy Vice-Chancellor, Prof. Ayodele Atsenuwa, explained that the project would create a self-sustaining incubator program for innovators that wanted to take their products to market via a startup, as well as expose them to training to create bankable businesses that could attract big investments.
Similarly, in her address, the Director, Innovation and Technology Management Office, Dr Abiodun Gbenga-Ilori, stated that I2M seeks to improve the national innovation ecosystem by creating pathways for innovations to get to the market and benefit society.