In a significant stride towards enhancing global competitiveness and innovation among emerging economies, South Africa’s Innovation Hub has been selected to join the launch of the BRICS Science, Technology and Innovation (STI) Incubation Network.
This initiative follows a momentous announcement made by Chinese President Xi Jinping during the 15th BRICS Summit in August 2023, where he proclaimed plans for the establishment of a China-BRICS Science and Innovation Incubation Park.
The collaboration aims to bolster the creative capabilities of BRICS countries—Brazil, Russia, India, China, and South Africa—as they become increasingly pivotal players in the global economic arena. As globalization deepens, BRICS nations are emerging as an essential engine for sustainable economic growth, exemplifying the power and prevalence of emerging markets.
As part of this initiative, the Innovation Hub, which operates under the Gauteng Growth and Development Agency (GGDA), will not only play an active role but also serve on the advisory committee in China.
The Innovation Hub is known for managing Africa's first internationally accredited Science and Technology Park and is a full member of the International Association of Science Parks (IASP), positioning itself as a significant contributor to innovation and entrepreneurship within Gauteng.
According to Bangani Mpangalasane, CEO of the Innovation Hub, this initiative represents a crucial opportunity to foster collaborative innovation among BRICS nations.
“Through talent cultivation, financial support provisions, and the development of a comprehensive scientific and technological innovation incubation service system, we aspire to enhance both innovation and cooperation among BRICS countries,” Mpangalasane explained.
Kicking off with the "BRICS STI Incubation Network and 1st International Experts Advisory Committee Meeting," the event is set to take place from November 14 to 16 in Xiamen, China.
The Innovation Hub will be represented alongside the University of the Western Cape.
The three-day forum will include on-site visits, policy discussions, and the sharing of exemplary case studies, designed to identify and strengthen collaborations among member countries in science and technology entrepreneurship.
Mpangalasane elaborated on the provincial government's backing, highlighting the support from the office of the Premier Panyaza Lesufi and the Gauteng Department of Economic Development MEC Lebohang Maile illustrating the provincial government's commitment to radical transformation, modernization, and re-industrialization of the Gauteng economy.
He emphasised that such participation enables the Innovation Hub to contribute on the global stage while promoting an inclusive and robust local economy.
The forthcoming event will include site visits to several notable innovation parks, including the Tan Kah Kee Innovation Park, National University Sci-Tech Park, and the Xiamen Sky Semiconductor Technology, consequently culminating in a visit to the Zhongguancun Science and Technology Park in Beijing. These excursions are aimed at fostering knowledge sharing and uncovering solutions to challenges faced by local start-ups.
In addition, the BRICS STI objectives are set to facilitate ‘soft landings’ for enterprises and enhance talent development across the member countries.
By prioritising collaboration in technology transfer and enterprise incubation, this initiative not only seeks to bolster the economic landscape of BRICS nations but also aims to facilitate the growth of their local start-ups in the global marketplace.