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UFS hosts launch of Khoebo Innovation Promotion Programme

14 November 2024 | Story André Damons | Photo André Damons

Khoebo Innovation Promotion Programme launch 2024 — Staff members from the Directorate Research Development (DRD) at the University of the Free State; Palesa Mgaga, second from right, Tebogo Machethe, centre, and Charelise van Staden, second from right, were thanked for hosting the launch of the Khoebo Innovation Promotion Programme. They are pictured with colleagues from the IDC’s Samkelisiwe Mtsewu, left, and Thato Mogopodi, far right.

The University of the Free State (UFS), represented by the Directorate Research Development (DRD), played host to the Department of Trade Industry and Competition (dtic) and the Industrial Development Corporation (IDC) for the launch of its Khoebo Innovation Promotion Programme (KIPP).

The launch took place on 5 November in the Sasol Library on the Bloemfontein Campus. Tebogo Machethe, Director: Research Contracts and Innovation at the DRD, said its role was to expose the university researchers to different opportunities and programmes for funding from the IDC and the dtic. It also allowed the researchers to engage potential funders in order to understand what funders look for in a project when considering funding it.

“The aim of IDC KIPP is to assist local entrepreneurs and small to medium enterprises with commercialisation funding. The KIPP offers capital and business support to SMMEs during the early stages of commercialisation with particular emphasis on township and rural entrepreneurs,” said Machethe.

Address uneven distribution of economic development

KIPP is a dtic programme but is managed by the IDC and aims to enable early-stage innovative SMEs to penetrate the market with their locally developed innovations, resulting in a more competitive economic environment and thereby facilitating economic growth in the economy.

According to Machethe, who welcomed the guests, participants and presenters to the launch, some of the funding is geared towards the development of university innovations. Though the focus was on the KIPP launch, he continued, the discussions also encompassed other forms of funding that are available and more geared towards the university innovation.

His address was centred around the university's Vision 130 and how it supports innovation and the entire innovation ecosystem, which seeks to shift the emphasis to research impact, embracing both knowledge and societal impact. Vision 130 identifies the need for a greater focus on collaborative research, research that can attract large-scale funding in niche areas where the university is seen as a national and global leader.

Samkelisiwe Mtsewu, KIPP Account Manager at the IDC, said the programme was introduced to address the uneven distribution of economic development across the country. She said with its capacity, the KIPP programme can contribute to addressing the uneven distribution of economic development.

News Archive

Valuable advice for businesses in difficult times

2013-04-15

Prof Helena van Zyl, Director of the Business School, and Dr Reuel Khoza.
Photo: Stephen Collett
15 April 2013

Dr Reuel Khoza, Chairman of the Nedbank Group, shared the group’s valuable rules for managing a bank in difficult times in an MBA lecture on the Bloemfontein Campus. Dr Khoza is a visiting professor at the UFS Business School.

He focused in the lecture on the group’s business and leadership model and highlighted some do’s and don’ts:

Do not surprise your stakeholders on the downside – communicate transparently, particularly when there is bad news.
Retrenching staff to contain costs should be a last resort – the damage to corporate culture from retrenchments is immense. Follow and support your customers – get as close to them as possible because business changes slowly, but customer behaviour can change in an instant.
Integrated central capital and funding management.
Entrench well-established reporting, KPIs and measurement systems.
Ensure strong independent risk management.
Manage your cost base – anticipate downturns and re-base your costs to avoid crisis-cost management.
Take advantage of opportunities – an economic downturn creates a situation where valuations fall and assets are sold off, which can be a great opportunity for acquisitions.
Keep innovating – innovation does not have to be a costly exercise, as the right culture can promote and encourage experimentation and collaboration.
Whatever you do – avoid a price war, as expedient pricing decisions may hurt the business in the longer term.

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