The Innovation Hub, a subsidiary company of Blue IQ and Gauteng's only Science Park, signed a memorandum of understanding of major significance with the Wallonia Foreign Trade and Investment Agency (AWEX) of Belgium.
In terms of the agreement, The Innovation Hub and AWEX will create the platforms for scientific and technology exchange between Belgium and South Africa, including the support, establishment and introduction of technologies and companies to potential partners and opportunities in their respective regions.
The MOU with The Innovation Hub was made possible by the active support of the Belgian Ambassador to South Africa, Ambassador Jan Mutton. This was the second agreement of this nature entered into by AWEX, following a similar agreement with Texas A&M, one of the most prominent American Research and Commercialisation institutes.
The Wallonia region of Belgium boasts 130 fully equipped business parks, six science parks, 5 000 companies, four incubators, nine university centres, EUR480 million R&D expenditure at the universities only, 300 public and private R&D centres and more than 11 000 researchers.
Texas A&M University System is world renowned for its results in science and technology, is one of the top three US research university systems with an annual R&D budget of $620 million per year and represents 18 universities and 105 000 students.
The intention is to expand the collaboration network even further, after the European Union, the United States and South Africa, to also enter into further agreements with similar organisations in India, China and the Middle East. This network will co-identify, co-protect, co-invest, co-locate and co-market innovation and start-ups.
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