Federal government of Nigeria has presented cheques worth N24 million to 16 beneficiaries of the 2013 Presidential Standing Committee on Inventions and Innovations (PSCII) grant in continuation of nine years support by the Presidential Standing Committee on Invention and Innovation, PSCII.
Presenting the cheques, the Supervising Minister of Science and Technology Ministry, Mrs. Omobola Johnson congratulated the beneficiaries on their achievements. She said innovation is the lifeblood of any business, any country regardless of social, demographic or economic standing.
She encouraged them to apply the grant towards the next step to their ultimate goal, which is patenting and writing a business plan.
‘‘While the grants that are given to you today are far cry from what you require to take your innovation forward to the next stage which is commercialisation and industrialisation, I want to encourage you to apply this grant towards that potentially small but important next step to this ultimate goal-patenting, writing a business plan to present to institute that can make substantial funds available to you, making an application to one of our many Technology Incubation Centres in different parts of the country’s capacity building,’’ she said.
‘‘This is how businesses are created and how they thrive and grow. From one innovation or invention, from one bright young mind, a viable business is born, jobs are created, people are employed and wealth for nation and for individuals is created.
‘‘Let me congratulate each and everyone of you on this achievement. By receiving this grant, you have in a sense received both an endorsement and a validation of all your efforts. We look forward to hearing about your transition from an innovation to a business.
‘‘For those of you whose innovations and inventions are still in the preliminary or middle stage, we urge you to put in additional effort towards completion in order to provide opportunities to other Nigerians to commercialise and reap the desired benefits from your products,’’ said the minister.