From Lab to Market

For nations to compete successfully in the long run, they must innovate; and innovating entails building new competencies, new capabilities and new knowledge. Starting with a brief review of the concepts of Science, Technology and Innovation, this chapter discusses the factors militating against the translation of scientific R&D outputs into innovations in Nigeria. The situation in selected Asian countries are reviewed to highlight the significance of specific factors such as institutional framework, adequate funding and knowledge pool in the process of building indigenous innovation capability for national development. Policies, strategies and structures that could facilitate the effective management of R&D and innovation, and enhance university-industry connections are suggested.