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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

UFS to get transformation plan for African context
2005-02-04

The University of the Free State is to draft a comprehensive Transformation Plan to give impetus to the process of making the UFS an inclusive, non-racial, non-sexist, multi-cultural and multi-lingual university within the African context.

Delivering a keynote speech at the Official Opening of the UFS today, the Rector and Vice-Chancellor, Prof Frederick Fourie, said the Transformation Plan would include aspects such as employment equity, institutional culture, academic excellence, and other elements.

He added that another aspect to be considered in the academic element of the Transformation Plan was the issue of the African context, of a university for Africa, in Africa, of the African university.

According to Prof Fourie, the best way of understanding the role of the UFS in Africa and for Africa, is for the university to become a truly engaged university that bridges the gap between the institution and the community. He said the UFS had for more than 10 years been at the forefront of transformation in higher education, and had gone through several phases of transformation. However the UFS needed to embark on a new phase of transformation which would be guided by a comprehensive Transformation Plan.

The Transformation Plan would be the result of an inclusive consultation process involving staff, students, alumni and other stakeholders. It would also be based on a review of current policies and practices.
The process would be led by a Transformation Plan Team, co-ordinated by the Vice-Rector: Academic Operations, Prof Teuns Verschoor, and the Vice-Rector: Student Affairs, Dr Ezekiel Moraka.

“Obviously we should also not underestimate the complexities of transformation and of building a new society, given our complex history and the legacies of poverty, underdevelopment, colonialism and apartheid.

“We must consider support for staff involved in these transformation steps, including appropriate staff development, capacity to support transformation processes, as well as flexible and supportive administrative practices,” Prof Fourie said.

He said the UFS management understood the urgency of transformation in the current democratic South Africa and the changing global environment and appealed to staff and students to participate fully in drafting the Transformation Plan for the UFS.

“Transformation at the UFS has been and will continue to be a process with many facets that seek to enhance excellence in all spheres of university life, and is much more than merely ensuring employment equity,” he said.

Prof Fourie said: “We have reached a historic moment in the life of the UFS where innovative thinking and bold steps yet again are necessary because failure is not an option.”

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
4 February 2005

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