Institutions Supporting Technological Entrepreneurship

There are various organisations in Nigeria that support technological Entrepreneurship. Among them are:
Technology incubation center (TIC) : Established across the country to facilitate scale up and commercialization of R&D results, technologies and inventions through provision of integrated facilities, infrastructures and other business support services for a period of three years to cover come some initial challenges in start up enterprises.


National office for Technology acquisition and promotion (NOTAP) : Established in 1979 with headquarters in Abuja to primarily strengthen national capabilities for the negotiation, acquisition and promotion of technology. To also guide intellectual property rights and parenting of new technologies, inventions and innovations through monitoring of technology acquisitions and transfer agreements.


Raw material research and development council (RMRDC) : Established in 1987 to facilitate research, promote the development and use of local raw materials in the country. General supports and expedites industrial development and self reliance through the maximum utilization of local raw materials as inputs for industries operating in the country.


Federal Institute of industrial research, Oshodi (FIRRO) : Located in Lagos was established to conduct research into good processing, Agro-allied,  Textiles, Pulp and paper design and fabrication of prototype and microelectronics.


Conclusion
Consistency, technological development over the years has systematically increased technological entrepreneurship and subsequently increased entrepreneurship opportunities. The success of technological entrepreneurship is through innovation and commercialization. Innovation and commercialization of technologies is an opportunity for Techno-preneurs. Today, many new small firms are in the business of providing information services.


 A key area in the formation of new ventures in the 1980s has been in computer and business services. Since the industry is relatively young, the enterprises involved tend to be small. There was an upsurge in the numbers of companies supplying and servicing the new products of that era, which include motor cars, radios and other electrical /electronic goods, chemical and pharmaceutical products. As these industries matured and consolidated into fewer,larger organisations in the later part of the century, new technology provided the opportunity for new enterprise to develop and spread once again. This cyclical view of industrial development infers that the new business of today will tend to amalgamate into larger units as markets mature.

New technologies developments give rise to new market, which shift the balance towards small business again. Finally, it is instructive to note that a sound foundation for education is critical to exploiting technological opportunities. Hence, Nigeria should address the weakness in its educational sector in order to be in the position to benefit from the globalized world which is powered by technology and innovation.