Pretoria, 17 Apr 2015
The Innovation Hub and the Uitenhage Despatch Development Initiative (UDDI) have committed to support SMEs in the Eastern Cape that are in the low-carbon sector. To cement the partnership, a memorandum of understanding (MOU) was signed on Thursday, 27 March 2015, at the Green Technologies and Innovations for Inclusive Growth Conference, hosted by the Climate Innovation Centre (CIC) South Africa - a strategic green economy initiative of The Innovation Hub.
The MOU, which also supports the Development Bank of Southern Africa-The Innovation Hub partnership to extend the service offerings of the CIC throughout South Africa, will strengthen and co-ordinate the respective efforts of the CIC South Africa by accelerating growth and development of environmentally friendly SMEs in the Eastern Cape.
The agreement speaks to extending the service offerings of the CIC South Africa by developing a pipeline of sustainable green businesses operating in the low-carbon sector and job creation in the country. The CIC South Africa will conduct SME recruitment, technical and business support; facilitate the provision of office space for SMEs; and facilitate training, finance, commercialisation as well as legal and intellectual property services.
The Innovation Hub, Africa's first internationally accredited science and technology park, is the leading knowledge-intensive business cluster in South Africa. A subsidiary of the Gauteng Growth and Development Agency - an agency of the Gauteng Department of Economic Development - The Innovation Hub is strategically located in Pretoria's smart corridor that is encapsulated by academic institutions as well as research and development organisations.
"The signing of the agreement underlines the commitment of both institutions to attract and develop SMEs in the green economy sector to increase our global competitiveness and achieve common goals of promoting green growth, decent jobs and advancing to an inclusive green economy," said McLean Sibanda, The Innovation Hub Chief Executive Officer.
"The collaboration with The Innovation Hub is a great opportunity for the UDDI not only to strengthen and co-ordinate the efforts of the CIC South Africa, but also to educate and build the capacity of disadvantaged groups in the Eastern Cape. This would further help in assisting UDDI with developing SMEs on environmental sustainability and the low carbon economy, combat climate change, promote clean and efficient energy as well as protect the environment and preserve natural resources," said Patricia Dlamini, UDDI Chief Executive Officer.
Qualifying small businesses and entrepreneurs will benefit from financial, technical and business advisory, including mentoring, proof of concept links to other local and international financing institutions and physical incubation.