Entrepreneurial Innovation: Small and Medium Scale Enterprises Health Research and Economic Development in Nigeria

Abstract

The study examines innovation in the Nigerian traditional herbs by entrepreneurs with the objectives of identifying areas in which there can be coalition of efforts between the government and the entrepreneurs in order to increase the economic gain derivable from their activities. Findings revealed that the innovative efforts of those entrepreneurs had made consumers to shift their attention back to the traditional medicine without feeling embarrassed. It was recommended that the government should look into bringing those entrepreneurs together so that they can join forces (collaboration) with government agency coordinating their research and development which outcome can be commercialized and exported to other countries as practiced by the Asian countries.

Keywords:Innovation, Entrepreneur, Research and Development, Traditional Medicine, Herbs, Nigeria