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02 August 2024 | Story Martinette Brits | Photo Martinette Brits
Business Incubator Launch 2024
Members of the team involved in the new business incubator, from the left: Prof Philippe Burger (Dean of the Faculty of Economics and Management Sciences), Prof Johan van Niekerk (Vice-Dean of Agriculture in the Faculty of Natural and Agricultural Sciences), Chipo Matambo (Business Coach at the business incubator), Prof Peter Rosseel (Managing Director of Management Consulting and Research, a spinoff of the University of Leuven), Tebogo Machethe (Director for Innovation and Contracts in the Directorate of Research Development), and Prof Eugene Cloete (Chief Executive Officer of the Cape Higher Education Consortium).

The Faculty of Economics and Management Sciences (EMS) at the University of the Free State (UFS) has launched an exciting new initiative aimed at empowering entrepreneurs and generating third-stream income: a business incubator.

“There are countless wonderful ideas stored in computers and gathering dust on shelves, brimming with potential. If we can unleash and harness these ideas - package them effectively and put them to use - they could serve as valuable university assets, helping us generate additional income streams,” says Prof Philippe Burger, Dean of the Faculty of EMS.

Chipo Matambo, Business Coach at the incubator, highlights that this initiative will create a comprehensive entrepreneurship ecosystem. It aims to foster the development of an entrepreneurial mindset and skills while encouraging collaboration within the UFS community. Matambo explains, "The incubator brings together like-minded individuals and provides access to cutting-edge research, industry experts, mentors, potential funders, partners, and networking opportunities."

Currently referred to as "The UFS StartUp, ScaleUp, and SpinOff Hub," the incubator’s official name is pending finalisation. While spearheaded by the EMS Faculty, this initiative spans multiple faculties, uniting projects from across the university. "It serves as an incubator for all of us," remarks Prof Burger.

Key pillars of the incubator 

The incubator is built on three pillars: 

1. Commercialisation of Research: This pillar focuses on transforming university research into spinoff companies. “There is a lot of research at this university that can be channelled into potential commercialised projects and startups,” notes Prof Burger.

Matambo emphasises the importance of transferring UFS-developed innovation and technology to society to create an impact and generate revenue. This involves forming commercial links between the UFS and private or non-profit organisations to develop and commercialise UFS-created and owned technology. Key mechanisms for technology transfer include patented inventions, licensed technologies, partnerships, and new ventures. The Directorate of Research Development (DRD), along with various faculties, will be crucial partners in this endeavour.

2. Strengthening Student Entrepreneurship: UFS is dedicated to cultivating students' entrepreneurial mindsets and skills to empower graduates to become job creators. Key components include experiential learning, entrepreneurial support, mentorship, and access to industry experts and networks to foster innovative student startups.

3. Supporting Community Entrepreneurship: The incubator aims to help local communities develop their ideas into viable business ventures and establish enterprises within their communities.

Support services for entrepreneurs and startups

The incubator offers a range of services to support entrepreneurs and startups, including:

Feasibility Studies: Assistance with feasibility studies for potential candidates.

Advisory Services: Business coaching and mentoring provided by business coaches, DRD experts, and EMS faculty members specialising in various domains. 

Business Matchmaking:  Connecting startups with angel investors and potential clients through events like matchmaking events, trade fairs, and one-to-one introductions.

Consultation Services: Linking startups with external partners such as banks, auditors, lawyers, and business mentors.

Office Space: Providing office space equipped with WiFi, meeting facilities, collaborative workspaces, individual workspaces, and communal meeting areas to foster a conducive working environment.

Prof Burger mentioned that the building on South Campus designated for the incubator will be completed by the first half of 2025. In the interim, the incubator will operate virtually, although Matambo and the university team will conduct real meetings and interactions to drive its activities.

News Archive

Ford foundation funds higher education redesign
2005-06-23

 

The Ford Foundation has pledged a grant of almost R280 000 for redesigning higher education delivery at three campuses in the Free State.

According to Prof Magda Fourie, Vice-Rector: Academic Planning at the University of the Free State (UFS), the three campuses that will be affected by the strategic reconfiguration of higher education delivery are the Qwaqwa campus at Phuthaditjhaba and the Vista campus of the UFS in Bloemfontein and the Welkom campus of the Central University of Technology (CUT).

Prof Fourie says the three campuses were all affected by the restructuring of higher education, in line with the National Plan for Higher Education.

The Qwaqwa campus of the UFS that was part of the former University of the North was incorporated into the UFS in January 2003.  Likewise the Bloemfontein campus of the former Vista University was incorporated into the UFS in January 2004.

The Welkom campus of the CUT was also part of the former Vista University and was incorporated into the CUT in January 2004.

“These incorporations pose a challenge in that we have to think creatively about the best ways of using these three campuses to service the higher education, training, skills development and human resource needs of the Free State,” Prof Fourie said.

“The grant from the Ford Foundation will primarily be used to draw up strategic funding proposals for the three campuses.  The Qwaqwa campus of the UFS is a priority to us given the poverty and unemployment in a largely rural area of the Free State,” said Prof Fourie.

“A detailed consultation process will be undertaken in the Qwaqwa campus sub-region which will hopefully result in a comprehensive and a coherent suite of higher education activities being established on this campus,” said Prof Fourie.

“It is envisaged that the Qwaqwa campus will become a centre of excellence in the area of rural development.  This vision is based on a focused integration of the core functions of a university – teaching, research, and community service – around the issue of rural development,” said Prof Fourie.

Prof Fourie said that various educational offerings including among others short courses, bridging and foundation programmes, and degrees could be offered, with a particular focus on providing courses of relevance to students from the local rural community and students from elsewhere with an interest in focusing on rural development studies.

She said the redesign of the three affected campuses is being managed as a project of the Free State Higher Education Consortium (FSHEC) consisting of all the higher education institutions operating in the Free State.

“The aim of the project is to establish how the Qwaqwa and Vista campuses of the UFS and the Welkom campus of the CUT can be used effectively to meet regional education and training needs, to serve the strategic priorities of the two higher education institutions and contribute to the sustainable development and poverty alleviation of the region,” she said.

The planning for the Vista campus of the UFS is still in an early stage.  “We are looking at the possibility of developing this campus into a hub of education and training opportunities for Bloemfontein and Free State region.  Further plans will be communicated later in the year,” said Prof Fourie.

Media release

Issued by:  Lacea Loader
   Media Representative
   Tel:  (051) 401-2584
   Cell:  083 645 2454
   E-mail:  loaderl.stg@mail.uovs.ac.za

23 June 2005
 

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