Page 4 - CSERI Annual Review eBook
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DURBAN UNIVERSITY OF TECHNOLOGY
MESSAGE FROM THE
VICE-CHANCELLOR: RESEARCH, INNOVATION AND ENGAGEMENT
PROFESSOR KEO MOTAUNG
It gives me great pleasure to make a few remarks for the DUT-CSERI Annual Review Report for the 2021/22 financial year. I would like to congratulate all the SMMEs that graduated from the CSERI Incubation Programme as well as those who completed the Launch League UK Bootcamp that ended in May 2021, and the students who participated in the Youth Innovation Challenge with other universities in Durban.
It is especially pleasing to note that a DUT student, Muzi Mhlongo won the Youth Innovation Challenge with his business Ubuntu Fibre. DUT ran the first initiative of starting spin-off companies from different faculties at DUT aimed at commercializing research and we look forward to these business entities growing and creating more employment opportunities in the City.
Despite the unrest in July 2021 that left many businesses struggling to survive, it is heartening to note that at least 70% of SMMEs survived and continue to grow. Through the CSERI, a total number of 88 Start-Ups were supported, 400 jobs were sustained, 23 new SMMEs were created and the client turnover for the financial year was R45 449 274. These figures speak directly to the DUT ENVISION 2023 Strategic
Plan where entrepreneurship and innovation form the key strands of DUT’s DNA in addressing social challenges such as unemployment, inequality and poverty.
The CSERI is currently going through a transition phase of becoming a unit within the DUT – innobiz Centre for Entrepreneurship and Innovation – and we look forward continuing the positive relationship that we have with the Small Enterprise Development Agency (SEDA).
In closing, I would like to acknowledge all the staff and 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 ENTREPRENUESHIP RAPID INCUBATOR
