The Innovation Hub, based in Gauteng, South Africa, has signed a memorandum of understanding with the Uitenhage Despatch Development Initiative (UDDI) to support small and medium enterprises (SMEs) in the Eastern Cape working on green technologies.
The agreement between The Innovation Hub, which is Africa’s first internationally accredited science park, and the UDDI, a facilitating body established to promote sustainable development in the region, was signed at the Green Technologies and Innovations for Inclusive Growth Conference hosted by the Climate Innovation Centre (CIC) South Africa.
Through MoU allow the extension of the services offered by the CIC throughout South Africa and accelerate the growth and development of environmentally friendly SMEs in the Eastern Cape.
It looks to develop a pipeline of sustainable green businesses operating in the low-carbon sector and job creation in the country, with the CIC South Africa to conduct SME recruitment, technical and business support, facilitate the provision of office space for SMEs, and provides training, finance, commercialisation and legal and intellectual property services.
“The signing of the agreement underlines the commitment of both institutions to attract and develop SMEs in the green economy sector to increase our global competitiveness and achieve common goals of promoting green growth, decent jobs and advancing to an inclusive green economy,” said McLean Sibanda, The Innovation Hub chief executive officer (CEO).
“The collaboration with The Innovation Hub is a great opportunity for the UDDI not only to strengthen and coordinate the efforts of the CIC South Africa, but also to educate and build the capacity of disadvantaged groups in the Eastern Cape. This would further help in assisting UDDI with developing SMEs on environmental sustainability and the low carbon economy, combat climate change, promote clean and efficient energy as well as protect the environment and preserve natural resources,” said Patricia Dlamini, UDDI CEO.
Qualifying small businesses and entrepreneurs will benefit from financial, technical and business advisory, including mentoring, proof of concept links to other local and international financing institutions and physical incubation.
