The University of Pretoria has announced the launch of TuksNovation, a new high-tech business incubator to support postgraduate students in creating startups and employment opportunities.
TuksNovation was established with the support of the Small Enterprise Development Agency (SEDA), the Department of Small Business Development, and the Department of Trade and Industry.
The incubator has access to an extensive network of industry partnerships through its affiliation with the Engineering, Built Environment and Information Technology (EBIT) Faculty and is currently expanding its government and industry partner networks.
Its goal is to act as a catalyst for the development of industrial clusters which positively impact the Tshwane region.
“We have ramped up our efforts to implement innovative strategies to leverage and commercialise home-grown technologies in order to create sustainable new enterprises and subsequently job opportunities,” said Prof Cheryl de la Rey, vice-chancellor and principal of the University of Pretoria.
“We realise that by developing and commercialising research and development projects within academic institutions and by creating new spinoff companies, universities can contribute to job creation and economic development.”
TuksNovation offers technology development and commercial support through the technology and business development life cycles. It provides technology development and entrepreneurship support from prototype to commercialisation growth stages, to ensure that the technology is fully developed and addresses a relevant market need.
A virtual incubation programme focuses on technology and tech entrepreneurship skills, while an acceleration programme focuses on commercialisation and business growth.