The Inaugural South African Business Incubation (SABI) Conference held in Gallagher Estate, Midrand, in March, has provided a significant boost for ECITI.
The event provided a platform for the ECITI team to initiate a partnership with the Technology Innovation Agency (TIA) and Small Enterprise Development Agency (SEDA) that will see the partners instigating a funding programme.
Aptly referred to as the Technology Transfer Fund, the idea is for the partners to set aside provisional funding for qualifying small enterprises in the technology space that need support to accelerate their businesses into the mainstream market.
Over 50 incubators from all over South Africa were in attendance at the SABI conference themed “Incubation as a vehicle for Economic Prosperity.” The conference engaged delegates on business incubation policy, incubation funding models, international best practice and technology commercialisation.
Besides setting TIA-SEDA partnership agreement in motion, the ECITI team also gained invaluable insight into international incubation models which were presented at the SABI conference
ECITI’s Queenstown incubation coordinator Zandile Makina says: “The team was inspired to customise its incubation model for the Eastern Cape environment.”
“When implemented correctly, incubation can improve the survival rate of small enterprises whilst assisting in the development of these businesses. Incubated enterprise can therefore make a positive contribution to the economy, so by ensuring that incubated enterprises perform optimally, then they are able to create sustainable jobs,” ends Zandile.