Ikenga calls for collaboration to create sustainable funding for varsity development

Mr Chika Ikenga, Managing Director, Eunisell Limited, has called for an urgent need for collaboration to promote innovative research that creates wealth for society, businesses, academic institutions, and researchers.

Ikenga made the call in his keynote address at the maiden Research and Innovation Fair/Conference of the Michael Okpara University of Agriculture, Umudike, Abia State, recently.

According to him, cooperation and collaboration with the private sector, commercialising and licencing of technologies and knowledge developed in schools for industries, can help address the issue of university funding.

He further posited that by using the quadruple helix concept, which promotes building an ecosystem, and with the private sector as the engine of growth, academia can partner with the private sector.

“The industry can use the universities for research and development. The universities can also use the laboratories of companies to enhance their research. Together, these partners can create rewarding relationships.

“The collaboration between academia and industry will lead to the commercialization of innovative research and generate patents, licences, and revenue for all the partners, including the university, which is the researcher’s employer.

“The company makes money, the researcher makes money, and the university generates sustainable funding.”

He also stressed the importance of researchers and universities commercialising specific inventions through intellectual property licencing and the formation of spin-out companies.

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