Berytech has been leading on setting a national innovation strategy for Lebanon since 2017. While Lebanese researchers may be good publishers, there is a need to incentivize them and create reward systems to push them to develop projects with commercialization potential. The Lebanese ecosystem is challenged by the lack of funding for applied research, lack of Intellectual Property (IP) policies and support, as well as weak links between academic research and industrial needs.
There is a need to plant the innovation seed in academia. Therefore, there is a need to develop the technology transfer landscape and encourage the development of research that addresses market needs turning it into commercial startups, or better, building connections between the researchers with industrialists.
The process of transforming innovations and technological findings emerging from universities into market-ready products is essential to driving economies forward. Researchers can typically find the answers to various technical challenges, given that they are rightfully connected to their target industry. When and if they are, they would subsequently be prepared to develop innovations that can transform the market and majorly contribute to job creation.
Therefore, technology transfer and commercialization are some of the tools that developing countries need to prioritize. According to the World Intellectual Property Organization – WIPO, Lebanon is currently performing below expectations given its level of development. However, recently, light has been shed on the potential of researchers to drive economic prosperity and solve current challenges. Thus, the country is moving towards an economy that is driven by production, led by local Lebanese researchers.