Industries have been challenged to take up risk by tapping into the potentials of science and technology to propel the rapid economic growth of the country.

Dr Victor Agyeman, Director General, Council for Scientific and Industry Research (CSIR) noted that technologies were ready for uptake by the private sector and the public for industrial development, adding their application was key in addressing national issues in all sectors of the economy.

He noted that apart from risk, high interest rates and inflation continued to remain a challenge to businesses.

Dr Agyeman who made this known at the Launch of Business Plans of some selected technologies of CSIR in Accra noted that industries “were not prepared to take risk”.

“They are waiting for one person to venture into these technologies and when they thrive, other entities join them.”

According to Dr Agyeman, he was of the belief that business plans developed by the CSIR would serve as “window to unearth the business potential of the developed technologies to the private sector for the greater betterment of Ghana’s socio-economic development.”

However, Dr Agyeman said, the “promotion, uptake and commercialization of these developed technologies have not been encouraging,” noting that “valuable information to unearth their business potential had mainly been confined to the research and academic circles”.

To address the issue, Dr Agyeman said the CSIR under the Ghana Skills and Technology Development Project has established a Technology, Development and Transfer Centre (TDTC) house by CSIR-STEPRI.

He explained that the CSIR-TDTC was aimed at bridging the gap between research and the private sector through an effective technology development and transfer system that could constantly engage private sector on their technology needs.

In this regard, Dr Agyeman said so far about 165 technologies developed in all the CSIR Institutes had been well packaged, profiled and documented adding, we have prepared marketable tools in the form of business plans targeted at some Entrepreneurs in the private sector.

According to him, there were a lot of key innovations which enterprises could make good investments, citing the development of pozzomix cement developed by the Building and Road Research Institute of the CSIR.

Dr Agyeman indicated that out of the 165 technologies developed, the CSIR had selected 10 and put together business plans on them.

The 10 key technologies, he said include, Gas Cabinet Fruit Dryer, Feed Pellet for Grass Cutters, Biogas Technology, Solar Dry Technology, Improved “Akosombo Strain” of Nile Tilapia using cage culture, Oil Palm Mushroom Production.

Others are Mechanized Palm Kernel Separator, Innovative Rain Harvesting Water Technology.

Dr Agyeman debunked assertions that researches conducted by the CSIR were gathering dust and rather suggested the creation of more platforms to promote policies on researches conducted so that these technologies could find their way on the market.

He cited Malaysia and Sri Lanka as some of the countries that had taken up research into Palm and Coconut respectively adding those products were fetching high revenue.

Dr George Essegbey, Director CSIR- Science Technology Policy Research Institute (STEPRI) recounted that the Business Plan was one of the means of reaching out to the public and the private sector while demonstrating to them practically the output of research development.

Dr Essegbey pledged the CSIR’s commitment to contributing to the development of science and technology to promote businesses.

Mr Roland Asare of CSIR said the Business Plan delved into financial analysis, production plan and chat as well as Marketing plan.

According to Mr Asare, the Business Plan would also provide opportunity for the commercialization of CSIR‘s innovations and technologies.

He said technologies developed by the CSIR were paramount in solving challenges of the country.

Mr Kobina Nyanteh, a member of the Association of Ghana Industries (AGI), was elated with the launch of the CSIR business plan, but said the Association would be relieved if there were low taxes, inflation kept under control and loans availability for members.

Mr Nyanteh lauded CSIR for the various innovations, noting that raw materials exports were leading less value of products.

He called for more collaboration between CSIR and AGI to ensure that more jobs were created in the country.

The CSIR Business Plans were distributed to Universities, the various affiliate of CSIR, the various Ministries and other Institutions.