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AfricaCommunitiesDigital Innovation
April 27, 2023

The Technology Transfer Process

Digital Innovation Hubs (DIHs) are at the forefront of technological advancement in today’s fast-paced world. As such, they play a crucial role in facilitating the transfer of technology from lab to the market. However, technology transfer is not without its challenges. That is why a workshop  was organized by Emerging Communities Africa (ECA) as part of the AfriConEU Networking Academy activities to help DIHs explore the concept of technology transfer, its benefits, and the legal framework in place to protect it. This workshop aimed to equip participants with the necessary knowledge and tools to navigate the complex world of technology transfer successfully. With the right approach, technology transfer can be a valuable tool for promoting innovation, economic growth, and development. In this article, we will delve deeper into the key takeaways from the workshop and explore the importance of technology transfer in today’s digital landscape.

The hybrid workshop took place on Friday, March 31st 2023 at Akure Tech Hub, Ondo State and featured and group discussion between participants and 2 keynote sessions taken by Olumbe Akinkugbe, Chairman of Ondo State Information and Technology Agency (SITA) and Kitan David, Founder of Future Academy Africa respectively. 

Olumbe Akinkugbe explained how technology transfer  is a critical component of innovation and economic development, as it allows organizations to leverage existing knowledge and expertise to create new products and services.  He also stated that technology transfer can take many forms, including licensing agreements, joint ventures, and research collaborations. The  goal of technology transfer is to take innovative ideas and turn them into tangible products and services that can benefit society.

He further went on to state 2 primary  drivers of technology transfer 

  1. The need for innovation. 
  2. The need for economic growth. 

In today’s fast-paced digital landscape, innovation is key to staying competitive. Organizations that fail to innovate risk falling behind their competitors and losing market share. By transferring technology, organizations can leverage existing knowledge and expertise to create new products and services that meet the needs of their customers.

Technology transfer can help create new businesses, jobs, and industries, which can contribute to economic growth and development. By transferring technology, organizations can create new products and services that generate revenue and create employment opportunities.

He rounded up the session by stating that technology transfer is a complex process that requires careful consideration of legal and regulatory issues. There are several legal frameworks in place to protect technology transfer, including intellectual property laws, export control regulations, and licensing agreements.

After his session participants gathered in 3 groups to discuss “the motivations and benefits of technology transfer” after the group discussion,  representatives from each group presented insights from their respective groups. Adedapo from group A stated that Improved standard of living through technology has helped make life easier. Esther from group B gave some benefits of technology transfer which includes Collaboration; Using the strength of a sector to build another, Commercialization and Industrialization, Knowledge dissemination, Innovation. Peace from group C said ”the importance of licensing cannot be overemphasized, if you have an idea, you must protect it in transferring such technology and the sustainability of the idea or product that is being involved in the process of technology transfer”.

To wrap up the workshop, Kitan David gave the final session on technology transfer mechanisms.  He focused on the impact of Artificial Intelligence(AI) in technology transfer and how organizations and individuals have to stay on the trend as it’s rapidly causing technology transfer waves in various industries. He also made mention of the need for documentation as documenting processes is key to recognizing room for technology transfer.

In conclusion, technology transfer is a critical component of innovation, economic growth, and development. It allows organizations to leverage existing knowledge and expertise to create new products and services that meet the needs of their customers. However, technology transfer is not without its challenges, and organizations must carefully consider legal, regulatory, and business issues when transferring technology. By doing so, organizations can successfully navigate the complex world of technology transfer and reap the benefits of this valuable tool. By the end of the workshop, participants had a comprehensive overview of the technology transfer process and were able to identify legal frameworks like NDAs, IP laws, Licensing agreements etc.  to protect technology transfer.

By Emerging Communities Africa
AfriConEUBusiness
February 20, 2023

Building and Using a Network of Funding Sources

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In the past years, there has been a growing focus on developing new funding models and leveraging existing networks to support innovative projects and startups in Africa. One of the main drivers of this trend has been the rise of digital innovation hubs, incubators and accelerators in Africa, which have helped to connect entrepreneurs and innovators with the resources and networks. Additionally, a number of new funding initiatives and programs have been launched in recent years, aimed at supporting the growth of small businesses and startups in Africa.

Despite these efforts, however, many entrepreneurs and innovators continue to face significant challenges when it comes to accessing funding and other resources to support their projects. This is why the workshop on “Building and Using a Network of Funding Sources” organized by Emerging Communities Africa (ECA) as part of the AfriConEU Networking Academy activities aims to provide valuable insights on how to identify and access funding sources, and how to build a sustainable partnership framework for innovative projects.

The workshop held on Thursday, January 26th, 2023, at The Nest Hub, Yaba, Lagos Nigeria and online via zoom and brought together a diverse group of individuals and organizations in academia, business and government, all of whom were interested in learning more about how to access and utilize funding sources to support innovative projects and drive economic growth in Africa.

The workshop began with a presentation by Bankole Oloruntoba, CEO Nigeria Climate Innovation Center (NCIC) on the concept of an innovation lifecycle. He explained how understanding the different stages of an innovation’s development can help entrepreneurs identify the best funding sources for their projects. Additionally, He highlighted the difference in accessing private sector funding, government funding, and funds from foreign sources. He later went on to clarify that accelerator and incubation differ and a startup will need pre-incubation at its ideation phase to produce a prototype after that it needs incubation to gain market entry and will only require acceleration when it needs growth and scaling.

Following Bankole’s presentation, Ireayomide Oladunjoye, Immediate past Head, Lagos Innovates (Lagos State Employment Trust Fund) spoke on the various funding sources available to entrepreneurs, including government grants, venture capital (VC), and crowdfunding. She stressed on the fact that at an early stage, bootstrapping or funding from friends and family is advisable and a business should only consider VCs when they have started making revenue.

The workshop then featured a panel session with Amarachi Nwachukwu, co-founder MendHQ, Mike Rosanje, CEO Cashbuddy, Ibrahim Ajala, co-founder VS Creatives, and Joba Oloba, co-founder The Nest Hub. The panelists shared each of their company’s funding stories and offered valuable insights into the challenges and opportunities of securing funding for innovative projects. One of the panelists mentioned that more than funding, the environment also played a vital role in determining the success of their organization.

Next, Joba Oloba, Co-founder The Nest Innovation Technology Park, discussed the concept of an innovation ecosystem and how to map it. He emphasized the importance of understanding the different players and resources in a local innovation ecosystem and how they can be leveraged to support the growth of innovative projects. He focused on the academia as a driver of research into current problems and innovative solutions and how the academia and DIHs should collaborate on upskilling programs.

To wrap up the event, attendees participated in a group activity session where they worked together to propose a sustainable funding/partnership framework for innovative projects. The goal of the activity was to explore and maximize opportunities that could bring economic growth to target markets. Group A devised a plan to scale the export of high-quality leather from Aba, a city in Abia, Nigeria using technology, while Group B developed a partnership strategy to bridge the institution and industry mismatch using digital innovation hubs as enablers.

At the close of the workshop, participants were able to describe funding sources within their innovation ecosystem, match financing sources to project needs, describe the role of DIHs as reference points, and understand best practices for maximizing funding opportunities and collaboration.

By Emerging Communities Africa