NAIROBI, Kenya, Aug 25 — Africa’s bioeconomy is being held back less by a shortage of scientific ideas than by the failure to turn research into businesses capable of attracting investment, British High Commissioner to Kenya Matt Baugh said Tuesday.

📻 Breaking It Down

Baugh said African countries had growing research and innovation capabilities but lacked the financing pipelines, industry links and institutional systems needed to move promising discoveries from laboratories into commercial products and jobs.

“The binding constraint that we flagged is basically getting research to an investable proposition,” Baugh said at the Africa Bioeconomy Workshop in Nairobi.

The two-day meeting brings together policymakers, scientists, investors, entrepreneurs and development partners to explore ways of accelerating the commercialisation of Africa’s biological resources and scientific capabilities.

📌 What You Need to Know

Baugh said the bioeconomy offered significant opportunities for economic growth, but countries needed to deliberately connect universities and research institutions with government, investors and industry.

The push comes as Kenya and other African countries seek to use biological resources, biotechnology and scientific research to drive industrialisation, create jobs and reduce reliance on exports of raw materials.

He noted that the UK’s experience demonstrated the economic potential of connecting research with investment and industry.

The UK bioeconomy contributes about £200 billion in gross value added and supports around five million jobs, he said .

For Africa to unlock a greater share of its own potential, Baugh said governments needed to build ecosystems that bring together researchers, companies, investors and incubators.

“It’s about both attracting and unlocking capital now and how funds and investment vehicles can either provide seed investments to basically then attract follow-on,” he said.

📰 Source: Capital FM Kenya