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| Tunji Olugbodi in a group photograph. |
Executive Vice Chairman of Verdant Zeal Group, Dr Tunji Olugbodi, has said bridging the gap between industry and academia is crucial to addressing low productivity and poor economic growth. According to the expert, there exists a very low and slow translation of research work into marketable products. He described the coming together of the two sectors as a fertile ground for innovation.
Olugbodi,
an alumnus of Olabisi Onabanjo University (OOU), Ago-Iwoye, Ogun State,
delivered the institution's Faculty of Social Sciences Open Lecture on
Thursday, November 16, 2023. It had as theme: "Collaborative innovation:
bridging the knowledge and research gap between industry and
academia".
He
decried the questionable and slow pace of academia-industry collaboration,
adding that such partnership is imperative in addressing societal problems and
shaping the nation's future.
The
business mogul said it was vital to address challenges facing the academia to
boost its relevance and growth.
Olugbodi
said the partnership between industry, academia and government is essential for
innovation and development, sustainable progress and prosperity.
He
said industry-academia relations would effectively tackle real-world problems
with fresh perspectives, rigorous research and cutting-edge technology.
"The
pharmaceutical industry frequently collaborates with universities to develop
new drugs and treatments. Similarly, the renewable energy sector relies on
academic research to advance sustainable technologies. These partnerships not
only benefit industries by solving critical problems but also contribute to the
well-being of society," he said.
According
to Olugbodi investing in beneficial partnerships is a win-win situation for
both academia and industry such that the former trains individuals with foundational
knowledge, while the latter has the practical experience and real-world
insights to absorb them. This, he said, can ensure alignment with labour market
needs.
He
said industries are crucial to innovation and development through job creation,
adding that they stimulate economic stability leading to an enabling
environment for innovation and investment in research.
The
convener of the famous Innovention Series, a yearly thought leadership foray
dedicated to front-lining new development routes for societal progress, urged
the country to tap into the productive capacity of its youths for economic
advancement.
"The
most important weapon for Nigeria's growth remains its population mined
positively. Nigeria has the highest population of youths in the world, with a
median age of 18. About 70 percent of the population is under 30 and 42 percent
is under 15. Imagine the productive capacity that can be unleashed if well
tapped," he said.
He
said through entertainment the nation had earned better global recognition
through the combined exploits of hip-hop artists including Davido, Burna Boy,
Tiwa Savage,among others,than it had received from political leaders since
1999.
Olugbodi stressed the need to nurture and promote academia-industry relationships to ensure a better and more prosperous future for the nation.
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