Page 9 - CSERI Annual Review Report 2023/2024

DURBAN UNIVERSITY OF TECHNOLOGY
BUSINESS DEVELOPMENT STATEMENT –
MS NONKOSI BRIGHTNESS NYAWOSE
It is with immense pride that I reflect on the achievements and progress of the Durban University of Technology - Centre for Social Entrepreneurship Rapid Incubator (DUT CSERI) over the year 2023 - 2024. Our unwavering commitment to fostering innovation and sustainable development has yielded significant milestones, reinforcing our mission to empower communities and drive positive change.
Throughout the year, we have successfully launched multiple programmes aiming at nurturing entrepreneurs. These programs have been meticulously designed to provide aspiring entrepreneurs with the necessary tools, knowledge, and resources to transform their innovative ideas into impactful businesses. Our training workshops, mentorship sessions, and networking events have equipped numerous individuals with the skills to address pressing social issues and create sustainable solutions.
Collaboration has been at the heart of our success. We have formed strategic partnerships with local organisations, educational institutions, and industry leaders to expand our reach and enhance the effectiveness of our programs. These partnerships have provided additional resources and created a supportive ecosystem for our entrepreneurs, fostering collaboration and knowledge sharing.
In May 2023, we were ecstatic to welcome a phenomenal cohort of 120 passionate entrepreneurs into our prestigious ideation and incubation programs. These exceptional individuals were guided, mentored, and nurtured with expert guidance, equipping them with invaluable skills across various business domains and connecting them directly to the dynamic market landscape. Of these, 60 entrepreneurs were split into the Ideation Program, which spans three months and has already seen a successful completion. The other 60 had exclusive access to the incubation programme which entailed personal development, design thinking, business strategic planning, business systems, and funding opportunities over 12 months. We were filled with anticipation to empower and support these businesses in reaching new heights and eagerly awaited witnessing their incredible transformations.
A notable highlight this year was our collaboration with DUT Human Capital Services (HCS) to deliver essential equipment to DUT SMEs. This initiative has been instrumental in providing the resources needed by 3 SMEs to thrive and scale their operations, further cementing our commitment to supporting grassroots entrepreneurship.
We also extend huge congratulations to the 14 graduates of our Supplier Development Programme. We are incredibly proud of our collaboration with the DUT Procurement Department to equip and train these amazing entrepreneurs. This three-month program was not just about supplying DUT; it was about empowering these businesses to become exceptional partners for any company. These graduates are now equipped with the skills and knowledge to take their businesses to the next level.
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