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Small- and medium-scale enterprises can be crucial economic catalysts for national development, poverty alleviation and employment generation. Despite their importance, they are faced with numerous challenges in Nigeria amongst which is the lack of research and development support.
There is a clear deadweight loss associated with R&D support in favour of large firms. Therefore, collaboration with external parties, like the University of Ibadan is expected to provide some advantages such as reducing the cost of R&D to SMEs.
For the university, it allows its researchers to carry out industry-targeted research projects. It also offers outlets for student internship and industry placement for staff.
These are some of the reasons why the University of Ibadan will be hosting the 2nd UI-SME Fair, themed Co-Create the Future: University of Ibadan and MSMEs.
Read also: NSE highlights opportunities for capital raising for SMEs and Other Businesses
The fair will hold on November 12, 2020 at the International Conference Centre on the university campus. It commences at 10 a.m. The first edition of the UI-SME Fair held on Thursday, 7th November 2019.
This year, the Fair has received significant support from sponsors. These include the Bank of Industry, Paylink.ng, the National Agency for Food and Drug Administration and Control (NAFDAC), International Institute for Tropical Agriculture (IITA), Microsoft Nigeria, Federal Inland Revenue Service (FIRS), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Standards Organisation of Nigeria (SON).
Businessday is the Gold Media Partner of the Fair.
Some of the consultants that will be addressing SME challenges in the parallel sessions include taxation experts, technology consultants, branding specialists, intellectual property lawyers, and marketing and sales professionals.
Insights will be shared by experienced executives at leading organisations such as the Flour Mills Nigeria and EZ37 Solutions Limited.
High-profile researchers from the University of Ibadan will support to participating SMEs geared towards providing practical solutions.
For long-term provision of support for SMEs, the University of Ibadan ultimately desires to host an SME Hub that will operate both virtually and physically, where on-the-go support can be rendered to cater to SME challenges. More details about this will be provided at the Fair.
