UKZN Honours Global Entrepreneurship Week Through Accelerating Commercialisation Workshop

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‘We are always price-takers because South Africa has become so accustomed to being net importers even with all the knowledge the country holds. We are the second or third largest exporter of radio traces for imaging, providing the USA with 40% of all cancer imaging for the staging and restaging process… which is one of the hardest sciences, yet we are also the biggest importers of plastic toys, milk and sunflower oil. There lies a stark contrast, we’ve become so accustomed to relying on other countries to create manufacturing capacity, buying dollars and importing their products.’

These are the words that were shared by Mr Martin Magwaza, Chief Scientific Officer at 3Sixty Global Solutions in his keynote address at the Accelerating Commercialisation: Moving Research to Market event.

Magwaza, who shared some of his exploits of tapping into the biotechnology industry, said he was inspired to look at the calibre of scientists and the infrastructure in South Africa and seek partnerships with international investors to produce these science products and or inventions here at home. He commented on the scorecard used in biotechnology which included evaluating whether the market was big enough on a global context and encouraged attendees to tap into that market which is estimated at 1.4 trillion dollars currently, and 4 trillion dollars by 2030. Magwaza said, ‘We should aim to target a small fraction of that industry because its meaningful enough to create jobs, invest in infrastructure and create researchers and applied scientists who can translate the new work that is being done, providing solutions for the worlds bigger problems.’

In his welcome address, Student Entrepreneurship Manager at UKZN InQubate, Mr Khutšo Ramontja said the event was hosted under the theme of Global Entrepreneurship Week with the aim of assisting academics, researchers and inventors derive value from what they do and get their products in the market.

Ms Nicoli Koorbanally, Founder of Chakana Consulting discussed the factors contributing to successful innovations and start-ups which include planning for commercialisation right from the onset, interrogating and understanding markets and how they meet societal needs, involving stakeholders right from the start, validating assumptions, abandoning failing projects fast, having multidisciplinary teams, building redundancy, and continuously monitoring and evaluating.

Deputy Director: Technology Transfer at Stellenbosch University, Ms Nolene Singh highlighted the various structures, platforms, initiatives and funds for entrepreneurs that aid in creating an ecosystem of collaboration between university and industry, within her institution.

Ms Ntanganedzeni Muanalo, Director: National Intellectual Property Management Office (NIPMO) gave an overview of the Intellectual Property Rights (IPR) Act 2008 that regulates publicly funded research and development; while Patent Candidate Attorney at Spoor & Fisher, Mr Thandanani Cwele tackled the various forms of Intellectual Property (IP) rights and protection namely patents, trademarks, copyright, registered designs and know how.

Dr James Sakwa, Head of the Industrial Biotechnology Business Unit: Technology Innovation Agency (TIA) focused on the various funding instruments available from his organisation which include the Seed Fund, the Technology Development Fund, the Commercialisation Support Fund and the Industry Matching Fund.

Sharing her journey from invention to commercialisation, Academic Leader in Optometry, Dr Naimah Ebrahim Khan described BONA a visual screening application that’s optometry regulated as a product that has universal impact. Ebrahim Khan, who created this product because of the need to roll out paediatric optometry screening to the 80% of kids who do not have access to optometry services, said her vision was to have this window-based application which is easy to use available in all 12 of South Africa’s languages. BONA, which will be implemented in the University of the Free State and has garnered international support, is an innovation that was established during Ebrahim Khan’s doctoral thesis.

Professor Raymond Hewer, a Biochemistry lecturer in the School of Life Sciences, shared some of the benefits for commercialisation as a scientist, citing financial gain, scientific and societal impact, benefits to the research group and university, and economic growth for the country. He noted the roles of a scientist as driving innovation, demonstrating physical tangible evidence that research works, knowing the market, and delivering to the promises made to the funders.

Other presenters at the event included Mr Njabulo Khulu from Ubukai Venture Fund who shared how his organisation provides funding for African tech start-ups with the intention of getting a return on investment after 10 years.

In his closing remarks, Ramonjta said hosting this event was about laying the foundation for 2024 as InQubate exists to serve the students and researchers. ‘We are here to support you and accelerate entrepreneurship,’ he said.

Words: Hlengiwe Khwela

Photograph: Asante Solutions