As part of its research and innovation focus within ENVISION2030, The Durban University of Technology’s (DUT’s) office of the DVC:RIE under the helm of Professor Keolebogile Motaung hosted the Investor Pitch Demo Day. The exhilarating day of pitching by entrepreneurs took place at the Institute for Water and Wastewater Technology (IWWT) seminar room and on-site, on 09 May 2023.
Welcoming the key presenters, sponsors, DUT students, and staff was the Acting Deputy Vice-Chancellor: Research, Innovation and Engagement, Professor Keolebogile Motaung. Present at the hybrid event were investors like Lucretia Chopera from Knife Fund: HBD Venture Capital, and Wayne Stocks from the University Technology Fund, to name a few.
She commented how exhilarated she was to be hosting such a sterling event.
“I’m so excited about this initiative. This is the first of its kind that DUT has hosted something like this. We are really so excited and looking forward to hosting this kind of event as part of its research innovation focus with the ENVISION2030, DUT actively encourages researchers and students to consider the commercial opportunity that may arise from their research activities,” she said excitedly.
She further indicated that what the university has done is adopt a different modality of the commercialisation of intellectual property emanating from research and innovation activities, including lessons for those who also wanted to license from the university. Prof Motaung spoke on the start-ups which are the undergraduate students, most of whom have their ideas incubated at innobiz.
Vice-Chancellor and principal, Prof Thandwa Mthembu also speaks of DUT having adaptative graduates which he had made mention in his State of University Address (SOUA) on their role in industry and how being adaptive inculcates a culture of students responding to changes of the world.
He further explained that creativity is the bedrock for innovation and entrepreneurship that permeates ENVISION2030.
“Leveraging on our collective institutional creativity, we crafted a revolutionary philosophy of education, which states: Our creativity and innovation shapes adaptive graduates that transform society. It’s a philosophy that replaces the old and hackneyed philosophy many universities of technology pride themselves in that it focuses on educating and training for the world of work that is becoming a myth to many of our young people,” he said.
Prof Mthembu further commented at SOUA that DUT no longer wants to produce graduates that walk distances looking for jobs as if they are pursuing a mirage.
“DUT now wants to produce ‘adaptive graduates’. This type of graduate is one with ‘the acumen to initiate, influence and/or respond to changes in the world’ with alacrity and agility, those that will transform society,” he said.
Moving forward, an array of presenters took to the platform to pitch their business ideas. The first presentation was done by Smart Energy And Technology Solutions (SETS), led by Prof Ian Lazarus and Mr Eugene Zeelie. Prof Lazarus explained that the goal of the company is to establish and position their spin-off company as one of the leading technical and consulting energy entities. Prof Lazarus also spoke of start-up funds that are required to assist SETS .Some of the other presentations included Mbali Ngema talking about her business called Ksaselihle FreshVegetables. Another amazing entrepreneur was Dr Nokhuthula Mavela, the proud founder of the zero-waste company that manufactures and produces therapeutic personal care products for common skin, nail and hair conditions, such as mild dermatitis, psoriasis, eczema, mild bacterial and fungal infections.
A robust discussion between entrepreneurs and investors ensued. Probing questions were asked by investors as well as entrepreneurs looking at how investors can help enhance their business skills and provide sponsorship. Excitedly, investors also showed a keen interest in investing in some of the entrepreneurs, at the event.
Also, simultaneously on the day, a prestigious awards ceremony was held in recognition of women from all spheres in academia in the implementation of Intellectual Property Rights, accelerating innovation and creativity among women. Three dynamic DUT women staff were the proud recipients of the awards, namely Dr Mavela, Dr Lephoto and Ms Khanyile.
Pictured: Acting Deputy Vice-Chancellor: Research, Innovation and Engagement, Professor Keolebogile Motaung.
Waheeda Peters
