Evidence based stem reporting techniques for technology adoption and commercialisation [23 6-2020] final

A presentation on:
Evidence-based STEM
Reporting Techniques for
Technology Adoption
and
Commercialization

By
Remmy Nweke, mNUJ, mNGE, mGOCOP
Lead Consulting Strategist/
Group Executive Editor,
DigitalSENSE Africa Media Group
[ITRealms,
NaijaAgroNet,
DigitalSENSE Business Magazine]

“NATIONAL STEM SUMMIT, 2020”
organized
by
HighTech Centre
On
Wednesday 23th June
THEME:
Tech Wheels in a digital economy

Key Words
Demystifying S.T.E.M.
Between Evidence & Reporting
How to organise your scientific report
Reporting Techniques
Adoption & Acquisition
Balancing Equation with NOTAP
Financial Reporting Council in Nigeria
- Contents -
Evidence based STEM Reporting Techniques for Technology Adoption and Commercialization by Remmy NWEKE

- Contents -
Commercialisation
Strategic Development
Merits of Commercialisation
Challenges
Summary
Abbreviations to Note
References
Questions & Answers

Science
+
Technology
+
Engineering
+
Mathematics
- Key Words -
S
T
E
M
Evidence-based STEM
Reporting Techniques
for Technology
Adoption and
Commercialisation

 STEM: Science, Technology, Engineering,
and Mathematics have become an academic
discipline and its very important to note that
technology is a term used to connote
grouping of all independent subjects together
within this discipline.
- Demystifying S.T.E.M. -

 STEM: Also, is a term typically used when
addressing education policy and curriculum
choices in schools to improve
competitiveness in science and technology
development.
- Demystifying S.T.E.M. -2

Science - Knowledge about the natural world that is
based on facts learned through experiments and
observation.

Technology - Application of scientific knowledge for
practical purposes, especially in a given industry;
culminating into machinery and equipment
developed from the application of scientific
knowledge.

Engineering - Thus is a branch of science and
technology concerned with the design, building,
and use of engines, machines, and structures. In
so doing, becomes the action of working art-fully
to bring something to fruition.
- Demystifying S.T.E.M. -

Mathematics - Applying mathematics during
engineering design challenges could help in
development of critical thinking, problem solving,
and communication skills.

Evidence - Is the available body of facts or information
indicating whether a belief or proposition is true or
valid. Onus of proof or corroboration.
- Between Evidence & Reporting -

Reporting - A report is a document that presents
information in an organized format for a specific
audience and purpose.
In addition, reports/reporting could come as a spoken
or written account of something that one has
observed, heard, done, or investigated.
- Between Evidence & Reporting -2

Extended format for scientific reporting:
1) Prepare the figures and tables.
2) Abstract
3) Objectives (as outlined in the Introduction)
and scope of the study.
4) A brief reference to the Materials and
Methods.
5) Draft write up on the Initial Results.
- Reporting Techniques -

6) Review the processes with 5Ws+H; Who,
What, When, Where, and Why + H (How)
7) Draft on Final Results and Discussion
8) Write up a draft conclusion.
9) Review of draft conclusion and clean copy
10) Compose a concise and descriptive Title.
- Reporting Techniques -2

Narrow format:
1. Introduction
2. Methods and Materials
3. Results
4. Discussion
- Reporting Techniques-3 -

- Reporting Techniques-4 -
Section Scientific method step
Introduction States your hypothesis
Methods Details how you tested your
hypothesis
Results Provides raw (i.e. uninterpreted)
data collected
Discussion Considers whether the data you
obtained supported the
hypothesis

Adoption:
In scientific reporting,
adoption refers to the
act of embracing ideas,
habits, etc.
- Adoption & Acquisition -

- Adoption & Acquisition-2 -
Acquisition:
Among other
definitions:
… Is the learning or
developing of a
skill, habit, or
quality, etc.

 The National Office for Technology Acquisition
and Promotion (NOTAP) established by
NOTAP Act, Cap. N62 LFN 2004 is a
parastatal under the supervision of the
Federal Ministry of Science and Technology.
- Balancing Equation with NOTAP -

 To regulate the inflow of foreign
technology into Nigerian economy and
develop appropriate means of adapting
the acquired technology.
- Balancing Equation with NOTAP -2

 Mandated to implement through the
evaluation, registration and monitoring of
all technology transfer agreements
signed by Nigerian entrepreneurs,
institutions and their foreign technical
partners.
- Balancing Equation with NOTAP -3

 Mission
To ensure the acceleration of Nigeria's drive
towards a rapid technological revolution by an
efficient acquisition/absorption of foreign
technology and a concerted development of
indigenous technological capability through
a proactive promotion of innovation and
commercialisation of technology.
- Balancing Equation with NOTAP-5 -

 viz -
 the use of trademarks,
 the right to use patented inventions,
 the supply of technical expertise in the form
of the preparation of plans, diagrams,
operating manuals or any other form of
technical assistance of any description
whatsoever,
 the supply of basic or detailed engineering,
 the supply of machinery and plant, etc.
- Some functions of NOTAP -

The Council’s main objects, as defined in the FRC Act
2011, are to:
 protect investors and other stakeholders interest
 give guidance on issues relating to financial
reporting and corporate governance to professional,
institutional and regulatory bodies in Nigeria
 ensure good corporate governance practices in the
public and private sectors, etc
- Financial Reporting Council Nigeria -

 Commercialisation - the process of
managing or running something
principally for financial gain.
- Commercialisation -

 Additionally, its the process of
introducing a new product or
production method into
commerce—making it available on
the market.
- Commercialisation -2

 The term often connotes especially
entry into the mass market, but it
also includes a move from the
laboratory into commerce.
- Commercialisation -3

Chris Fox: viz:
1. Venture capital: This is where early stage
investors (individuals or funds) invest in a new
business which aims to commercialize a
product or service, before selling it on to a
private buyer (private equity) or Initial Public
Offering (IPO) towards listing it on a public
stock exchange.
- Strategic Development -

According to Fox:
2. Bootstrapping: This is where initial costs
are kept to a bare minimum, with early
revenues invested back into the business to
fund its growth. In this way a minimum
amount of investment capital, usually
provided by the founders, is needed.
While…
- Strategic Development-2 -

3. New Product Development (NPD): Is
where an established company uses
profits from its existing products or
services to commercialize a new product
or service.
- Strategic Development-3 -

In all:
(1) Access to venture capital investors,
(2) Low cost operating environments (shared
facilities and services, for example), and/or
(3) Environments shielded from the bureaucracy
of and interference from the parent company.
- Merits of Commercialisation -

Definitely there are some challenges, including:
(a) Inability to acquire and assign resources,
(b) Inadequate managerial and business skills,
(c) Insufficient funds to market the new
product, etc.
- Challenges of Commercialisation -

1) Volunteering is a an experience we cannot do without
2) Issues in STEM include lack of reporting standards and
ethics (local content and practitioners, scientists) – case
of COVID-19
3) Trust of the public sector dealings (stealing of ideas)
4) Lack of adequate compensation where even item 2
applies successfully.
5) Policy summersaults (indiscriminate change of policies
without adequate stakeholders consultation and
engagement)
- Summary -

5) Inability to mainstream online commercialisation
processes
6) Above all, ensure that your STEM Commercialisation
has elements of SMART objectives, viz Specific,
Measurable, Attainable, Relevant, and Time-lines.
7) Observing all relevant STEM protocols beginning
with keeping a diary, will entrench an Evidence-
based STEM Reporting Techniques for Technology
Adoption and Commercialization.
- Summary -2

I. CBN - Central Bank of Nigeria
II. CP - Corporate Planning
III. CS - Consultancy Services
IV. FIRS - Federal Inland Revenue Service
V. HRFM - Human Resources and Finance Management
VI. ICT - Information and Communication Technology
(vii) LVA – Local Value Addition
(viii) MDAs - Ministries, Departments and Agencies
(ix) NBC - National Broadcasting Commission
(x) NCC – Nigerian Communications Commission
(xi) NIMASA – Nigerian Maritime Administrative and Safety Agency
(xii) NITDA – National Information Technology Development Agency
(xiii) NNPC – Nigeria National Petroleum Corporation
- Abbreviations to Note -

(xiv) NOIP - National Office of Industrial Property
(xv) NOTAP - National Office for Technology Acquisition and
Promotion
(xvi) NS - Net Sales
(xvii) OPS - Organised Private Sector
(xviii) PBT - Profit before Tax
(xix) TAR - Technology Acquisition and Research
(xx) TAS - Technology Advisory Services
(xxi) TIC - Technology Innovation and Commercialisation
(xxii) TIN - Tax Identification Number
(xxiii) TTR- Technology Transfer Registration
- Abbreviations to Note -2

What is STEM - Wikipedia
https://en.wikipedia.org/wiki/Science,_technology,_engineering,_
and_mathematics
Commercialisation – Investopedia www.investopedia.com
Strategic Development – Quora
What are some examples of commercialization strategy?
www.Quora.com
The Writing Center • University of North Carolina at Chapel Hill
https://writingcenter.unc.edu/tips-and-tools/scientific-reports/
Financial Reporting Council of Nigeria www.frc.gov.ng
Revised guidelines for Registration & Monitoring of Technology
Transfer and Agreements in Nigeria, 2018. www.NOTAP.gov.ng
- Some References -

Thanks for your time
&
listening.
- Questions & Answers? -

Evidence based stem reporting techniques for technology adoption and commercialisation [23 6-2020] final

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