Those who have innovative business ideas without the funds, may very well be provided with an opportunity to explore, test, prototype and even sell their products, services or ideas through the Central University of Technology (CUT) in due course. According to Professor Alfred Ngowi, who is also the vice chancellor at this educational centre, the university will undertake measures to create opportunities for students to bring forward their ideas, have them tested for viability with the possibility of developing them further for commercial use before finally taking them to the affected markets for profit.
This is done as part of its plan to increase entrepreneurial and innovative education at its Bloemfontein and Welkom campuses. As universities are not allowed to make profit on ideas, products or services, the CUT aims to provide entrepreneurial education through its learning content while using its CUT Innovation Services (CUTis) to develop those with entrepreneurial ideas and potential into commercially viable enterprises.
Working closely with the Centre for Rapid Prototyping and Manufacturing (CRPM) and the Product Development Technology Station (PDTS), a unit funded by the government, CUTis aims to provide support to staff, students and new start-up enterprises that intend to establish viable enterprises, develop their products for commercialisation and assistance with the identification of funding mechanisms to support these endeavours.
It also aids with incubating these parties and in addition to providing research, product development and product testing, it also protects the intellectual property of these entities and by providing incubation facilities and commercialisation support. Furthermore, these entities, which are often in the innovative and/or technological arena, can be accommodated for a maximum period of three years.
While the units at the university’s Research and Innovation Centre have been developing, prototyping and manufacturing products for years through the CRPM and PDTS units, producing world-class and award-winning innovations that have established CUT as a leader in technology for the first time ever this year, the university will also be hosting a Entrepreneurship Week (EW).
According to Dr Elizabeth Conradie, who is spearheading this project, EW aims to promote a culture of entrepreneurship and innovation across all faculties and studies. It also seeks to develop ideas that the students have by providing them with a platform to share them with others, giving them an opportunity to develop them into viable enterprises that will uplift communities and provide job opportunities.
As this will be the event’s first time, it will serve as an opportunity for the university to see which areas it can improve on and how best to incorporate these into its plans for entrepreneurial innovation and education on the campus. Conradie adds that the management is looking forward to growing the event into an annual one that will stimulate a spirit of creating initiative that will solve problems in society, while also being able to make profit out of these solutions. She says they are looking forward to attracting sponsors and making this an annual event which will be one of the flagship programmes of CUTis.
Students and members of the public can also look forward to the completion of the renovations at the Bloemfontein Campus’ gym hall, which will give way to a Think Tank as a space where business ideas can be explored and developed on campus as part of the plan to foster and create a spirit of innovation and entrepreneurship.
Entrepreneurship Week will be from 27 March until 1 April 2017, and will provide students with the opportunity to showcase their work and also sell it off to interested buyers. Go to the university’s website at www.cut.ac.za for more information on this groundbreaking initiative and the awesome cash prizes available for winners. – Pulane Choane
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