Speaker
Description
Olubukola, A. A.
Sikiru Adetona College of Education Science and Technology Omu-Ajose Ogun State
ronkealao303@gmail.com
Track: Research, Innovation and Knowledge Ecosystems
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EXAMINING SOURCES OF FUNDING AND CHALLENGES AFFECTING RESEARCH, INNOVATION AND COLLABORATION FOR SOCIETAL AND ECONOMIC IMPACT.
ALAO, Aderonke Olubukola Ph.D.
Department of Curriculum and Instruction, School of Education
Sikiru Adetona College of Education, Science and Technology
Omu-Ajose, Ogun State, Nigeria.
Email: ronkealao303gmail.com
Tel+2347068045240
Abstract
Research and innovation transform society by bringing practical solutions to societal problems. They address issues ranging from local to complex global concerns such as climate change, healthcare, and economic development by fostering collaboration among governments, academia, and industries to improve citizens’ quality of life. Unfortunately, limited funding available for research and innovation in higher education institutions undermines their contributions; therefore, this study sought to examine available funding options and challenges affecting research and innovation in higher education institutions. The paper further provided insights into challenges our citadels of learning are confronted with in terms of over-dependence on government funding, poor research infrastructure, brain drain, weak institution-industry collaboration, and limited access to competitive grants, amongst others. It was concluded that sources of funds are limited, while there is still a dire need for more impactful research and innovations. Thus, recommendations were made to stakeholders in terms of increased government funding, strengthening university-industry collaboration, human capacity development, and encouragement of international collaboration.
Keywords: Funding, Research, Innovation, and Economic Impact.