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N43.5m cash for 121 inventors

N43.5m cash for 121 inventors

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The Federal Government has given N43,500,000 as grant to 121 technological inventors in the country.

The grant was awarded yesterday in Abuja to beneficiaries of the 2017 Presidential Standing Committee on Inventions and Innovations (PSCII).

Selected inventors/innovators were grouped into three categories, category one with 24 awardees were handed grants of N500,000 each, category two with 54 awardees received N400,000-N300,000 each, while category three with 43 awardees received between N200,000 and N250,000 each.

Minister of Science and Technology, Dr Ogbonnaya Onu who presented the grants to the beneficiaries encouraged them to obtain patents as a means of protecting their intellectual property.

He said the award is important in creating entrepreneurs, who in turn can create new jobs, through the commercialisation of their inventions and Innovations.

“This grant may not be all that you need to improve on your inventions and innovations but it is an important recognition of your creativity, hard work and commitment to the realisation of a dream that you have lived with for a long time.

“It is important that your intellectual property is protected. You need this, so that venture capitalists can help you in commercialising your inventions and innovations. I encourage you to ensure that you obtain patents as a means of protecting your intellectual property,” he said.

 

 

The post N43.5m cash for 121 inventors appeared first on The Nation Nigeria.

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