Page 4 - CSERI Annual Review 2022-2023

DURBAN UNIVERSITY OF TECHNOLOGY
MESSAGE FROM THE ACTING
DEPUTY VICE-CHANCELLOR;
RESEARCH, INNOVATION AND ENGAGEMENT
PROFESSOR KEO MOTAUNG
I am pleased to present the DUT-CSERI Annual Review Report for the 2022/23 financial year. I would like to congratulate all the SMMEs that graduated from the CSERI Incubation Programmeas well as those who joined the programme for theyear 2023/2024.
It is especially pleasing to note that DUT CSERI has admirably met and surpassed both SEDA and DUT’s performance
expectations. Despite the challenges of the past few years, including COVID-19 and unrest, at least 70% of SMMEs supported by the CSERI have survived and continue to grow.
In the Manufacturing sector, the CSERI supported a total of 40 SMMEs and Cooperatives, commercialized three new IPs, helped 57 businesses access procurement opportunities from Government and corporates, and supported 76 women, and eight people with disabilities. These figures speak directly to the DUT ENVISION 2030, where entrepreneurship and innovation are key strands of DUT’s DNA in addressing social challenges such as unemployment, inequality, and poverty.
The CSERI is currently transitioning to become a unit within the DUT – INNOBIZ Centre for Entrepreneurship and Innovation. We look forward to continuing our positive relationship with the Small Enterprise Development Agency (SEDA).
In closing, I would like to acknowledge all the staffand entrepreneurs who worked tirelessly to develop and support entrepreneurship and innovation at DUT and for addressing socio-economic challenges in KwaZulu-Natal through the business incubation programme.
2 CENTRE FOR SOCIAL ENTREPRENEURSHIP RAPID INCUBATOR