The Nigerian Institute of Social and Economic Research (NISER), Ibadan, has called on the Federal Government to increase the allocation to Technology Incubation Centres (TICs) for necessary facilities, infrastructure and staff training.

Dr Abideen Alamu of the Innovation and Technology Department, NISER, made the call on Tuesday at the institute’s July Research Seminar in Ibadan.

Alamu, who spoke on the theme:  ‘’Innovation and the Performance of New Technology Based Firms (NTBFs) in Nigeria’’, urged government to provide tax discount and incentives for NTBFs to enable them have breakthroughs in innovation development.

According to him, the purpose of establishment and mandates of TICs as well as the innovation potential of the NTBFs is essential for achieving innovation development and economic growth of Nigeria.

He noted that the innovation potential of NTBFs must not be undermined as the growth of the firms was essential for employment generation, poverty reduction and economic growth.

Alamu suggested that the activities of the TICs should be given wider publicity through jingles and billboards.

He also urged TICs to always participate in trade fairs at local levels to enhance their growth.

Alamu urged firms to spend at least 40 per cent of their profit on research and development relating to products and process development for competitiveness.

According to him, the NTBFs are micro, small and medium scale businesses under the TICs that bring new ideas to the market for economic growth.

Earlier, the NISER Director-General, Dr Folarin Gbadebo-Smith, said the theme cut across all the sectors of the economy as innovation was key in development of any economy.

Gbadebo-Smith, represented by the Head of Human Capital and Policy Department, NISER, Prof. Femi Odekunle, noted that less attention was being paid to innovation and technology.

“Any country that neglects innovation, capacity building and technology can never develop,’’ he said.

The Chairman of the occasion, Prof. Victor Oladokun of the Department of Industrial and Production Engineering, University of Ibadan, said Nigeria had initiatives but lacked systematic support systems for innovation.

“We need to think of how to make TICs supportive in the development of the economy and improve our economy through innovations, ‘’ he said. (NAN)