Federal government through the National Board for Technology Incubation, NBTI, has revealed its readiness to partner with Higher Institutions in Nigeria in the area of Institutional Based Incubation Programme (IBCP). Director General/CEO, NBTI, Dr. Mrs. Patricia Uchenna Chukwu made this known when she received some management staff of Olabisi Onabanjo University at the Boards headquarters in Abuja. NBTI Boss noted that the Agency had already committed the sum of Eight Million, Five Hundred Thousand Naira (N8,500,000.00) in 2023 capital budget in the provision of infrastructure in the University while the sum of Fifteen Million (N15,000,000.00) is projected in 2024 Capital Appropriation for the same project in the Institution, thereby, making the University the first to have such Infrastructure for IBCP in the Country.
According to her, “The incubator in a knowledge-based environment would thrive by incubating R&D result outputs and innovations from researchers and students. This will in turn encourages more researches and innovations and also increase the wellbeing of the University/ Polytechnic and its researchers.
“It is on the importance of the above that the Agency in its 2023 Capital Project has provided the sum of Eight Million, Five Hundred Thousand Naira (N8,500,000.00) while the total cost for the project is Eighty-Seven Million, Seven Hundred and Sixty-Nine Thousand, Three Hundred and Forty-Two Naira, Fifty Kobo (N87,769,342.50). Also, the sum of Fifteen Million (N15,000,000.00) is projected in 2024 Capital Appropriation”.
She also noted that Olabisi Onabanjo University could also enhance their role through an effective and well-integrated incubation system for promoting, creating and enhancing entrepreneurial society through the universities’ mission.
“It is expected that the University should also provide counterpart fund. Institution Based Technology Incubation Centre (IBTIC) provide a better context for generating revenues and supporting a financially, legally and technically win-win interrelation between Institutions, business sponsor, government and society.
“As a result, NBTI is ready to enter into Memorandum of Understanding with the University where terms and responsibilities of each party will be enumerated, while the MoU will be accompanied with NBTI’s Institutional Based Incubation Programme (IBCP). However, am glad to announce to you that provision of infrastructure for IBCP to your institution is the first to be undertaken by NBTI”.
Speaking On behalf of the University, the Director of linkages and partnership, Prof. Joseph Ashidi commended NBTI for choosing the university to start off its Institutional Based Incubation Programme (IBCP) in the country, pledging that the University will give the Agency full support in delivering its mandate.
