The University of Pretoria (UP) has announced the launch of TuksNovation, a new high-tech business incubator which will initially support postgraduate students within the different faculties as well as industry to create high-tech business startups and employment opportunities.
UP said that TuksNovation would offer world-class technology development and commercial support through the technology and business development life cycles.
This will include technology development and entrepreneurship support from prototype to commercialisation growth stages, to ensure that the technology is fully developed and addresses a relevant market need.
A virtual incubation programme will focus on technology and techno-entrepreneurship skills, while an acceleration programme focuses on commercialisation and business growth.
The incubator was established with the support of the Small Enterprise Development Agency (SEDA), the Department of Small Business Development, and the Department of Trade and Industry.
It also has access to an extensive network of industry partnerships through its affiliation with the Engineering, Built Environment and Information Technology (EBIT) Faculty and is currently expanding its government and industry partner networks.
“We have ramped up our efforts to implement innovative strategies to leverage and commercialise home-grown technologies in order to create sustainable new enterprises and subsequently job opportunities,” said Prof Cheryl de la Rey, vice-chancellor and principal of UP, at the launch event.
“We realise that by developing and commercialising research and development projects within academic institutions and by creating new spinoff companies, universities can contribute to job creation and economic development,” she said.