The Petroleum Technology Development Fund (PTDF) has established a framework to commercialise research findings, ensuring innovative solutions for the oil and gas industry.
Executive Secretary of the Fund, Ahmed Aminu, who disclosed this at the close out seminar of the PTDF University of Port Harcourt (UniPort) Professorial Research Chair, explained that the framework will facilitate collaboration with partners, universities and researchers to transform research products into start-ups and entities, generating jobs and driving innovation.
The General Manager, Research and Innovation, Olayinka Agboola, who represented the executive secretary, said PTDF has invested significantly in research efforts over the years, to tackle critical areas in the sector.
While commending the outgoing Chair occupant, Prof Dolu Appah, for his achievements in the last five years, including capacity and product development, as well as research publications,
Aminu said the next step is to commercialise these products for industry impact.
On funding, Aminu acknowledged the challenges, but assured that the process has been streamlined to ensure timely release of funds.
According to him, a calendar for budget proposals from universities has been established to facilitate prompt deliberation and approval.
He, however, noted that the fund’s goal is to take these research findings beyond the academic realm into the marketplace, ensuring their commercial viability and real-world impact.
