Department of Science and Technology (DOST) Secretary Renato Solidum Jr. urged universities to fund the results of their research on innovation and technology.

Solidum made this challenge during the first-ever Regional Smart Communities Exposition and Networking Engagement (rSCENE) in Samar.

“If you look at the history of developed countries, the universities have made rich contributions to the economic development of these countries because they transition from education, research, and publication to commercialization,” he told journalists in an interview.

Solidum said he has instructed that all innovation research of universities must be market-ready so that it can easily transition to the commercialization phase.

“This is not easy to do because the university itself should develop that framework and advocacy,” he noted.

To ensure the success of commercializing their innovations, universities must partner with private firms when making a proposal to develop a product.

“This will fast-track the interaction between the technology producers and potential investors and capitalists, which will provide them a platform if they create a company or start-up,” Solidum said.

The DOST, according to Solidum, has been helping universities in developing commercialization of some of their research for more people to benefit from it and for these to become more useful in the community.

Solidum is in Catbalogan City to attend rSCENE, which aims to highlight innovative smart city solutions and foster networking opportunities among stakeholders in the technology sector.

The initiative also aims to address urban challenges such as improving public services and sustainability using technology and smart city solutions. (PNA)