The Innovation Hub has signed a Memorandum of Understanding (MoU) with China’s Chongqing Academy of Science and Technology (CAST) to increase the extent of research and development (R&D) and industrialisation of Gauteng.
The Innovation Hub plays an important role in facilitating the flow of knowledge between research institutions, industry, citizens and government, thereby strengthening provincial competitiveness and creating shared wealth.
Established in 2008, CAST is the largest service institution in the Western China region committed to scientific research and technical innovations. CAST integrates R&D, technical transformation & transfers, personnel training and international exchanges.
The collaboration will strengthen the relationship between China and South Africa and will see the two regions exploring the establishment of the “China-Africa International Technology Transfer Center” to be located at The Innovation Hub.
“The signing of the agreement underlines the commitment of both institutions to boost the infrastructure and assist in modernisation of the Gauteng Province, create jobs, build the capacity for technological companies and act as a collaborative platform for stakeholders in the innovation ecosystem,” said CEO of The Innovation Hub, McLean Sibanda.
In addition, the MOU serves as a collaborative platform for enterprises, universities and research field of economy, science and technology, innovation entrepreneurship, culture for the purpose of prosperity in academic, economic and technological exchanges between both parties.
Given the fact that South Africa currently imports more than 90% of its medical devices, the parties will work together to develop mechanisms of establishing local manufacturing capabilities with Chongqing that ensure a pathway for technologies developed at local research and academic institutions as well as emerging black owned businesses.
“It is a great opportunity for Chongqing Academy of Science and Technology Park to be working with South Africa, particularly The Innovation Hub, as a science and technology park to advance the areas of innovation, technology and scientific initiative to harmonise the objectives in research and development,” concluded CEO of CAST, Huang Jian.