Deep Tech Venture Builder ramps up commercialisation

A ground-breaking initiative to create a venture builder model harnessing the best in technology at higher education institutions throughout South Africa is getting off the ground with building blocks patiently being put together through a participatory and collaborative approach.

The second part of the series of eight workshops, led by the Cape Peninsula University of Technology (CPUT), in partnership with the Technological Higher Education Network South Africa (THENSA), aimed at creating a Deep Tech Venture Builder, seeks to unite universities of technology, investors, technopreneurs and government in a dynamic tech ecosystem.

The workshop took place from 6-7 June in Johannesburg, South Africa, with the common goal of laying the groundwork for the establishment of an adapted venture builder. About 40 delegates discussed the nuts and bolts of how the organisation would function, with six more workshops planned throughout the year, ahead of a formal launch of the finalised Venture Builder in April 2024.

Dr Revel Iyer, the director of technology transfer and industry linkages at CPUT, confirmed that the pilot programme would be run from its campus in Bellville, south of Cape Town. Its governing body would be made up of representatives of those institutions present.



He added that the current phase, for which the Research and Innovation Systems for Africa (RISA Fund) funds are required, is aimed at developing the Venture Builder structure and formalising partnerships.

CPUT and the consortium promoting technology for skills development, THENSA, are working on designing an adapted Venture Builder model for ramping up technology innovation and commercialisation through creating a technology ecosystem.

This would include attracting top talent, leaders, investors and government, ensuring that they team up to create a more robust, more innovative, inclusive and successful network.

Collaboration for innovation

The driving force behind this intervention is the recognition of the marginalisation experienced by technology-focused universities in the National System of Innovation development.

The adapted Venture Builder model addresses this issue by focusing on four critical drivers of spin-off success, including functional technology innovation, competent and skilled technopreneur teams, scalable and coherent business models, and access to investment finance.

Through a collaborative effort, delegates agreed that the network aims to become stronger, more innovative, inclusive and, ultimately, successful.

Brigitte Binneman, the deputy director of innovation priorities and instruments at the Department of Science and Innovation, said obtaining buy-in from all the stakeholders while the Venture Builder is being designed is key to the success of the development process and, later on, for implementation. She believes the initiative would drive technology commercialisation for the benefit of all South Africans.

“We are looking forward to the implementation of the adapted Venture Builder and the success that will come from the technologies that will be commercialised. This has the potential to showcase what can be achieved through the collective rather than the individual,” she told University World News.

While she added that the Venture Builder would not necessarily produce entrepreneurs from the academic space, Binneman believes it would ultimately drive the commercialisation of technologies through being paired with teams willing to take these forward or creating spinoffs from the initiative.

Binneman added that technologies are expected to come from formerly disadvantaged institutions through the joint implementation of the adapted Venture Builder programme to drive the commercialisation of the technologies from these institutions.

“This is a collective approach from the formerly disadvantaged Institutions that have the potential to yield better success than each of these institutions working towards commercialisation success,” she added.

A robust tech ecosystem

The first workshop for the Deep Tech Venture Builder took place at CPUT’s Bellville Campus in April, attended by 40 representatives from rural to urban universities and government to private businesses.

Tertiary institutions present included the Durban University of Technology, the University of Venda, the Walter Sisulu University, the Central University of Technology, Tshwane University of Technology, Vaal University of Technology, and the Mangosuthu University of Technology (MUT).

Officials from the South African Department of Science and Innovation, the National Intellectual Property Management Office, the Southern African Research and Innovation Management Association, or SARIMA, the Technology Innovation Agency, the City of Cape Town and the Greater Tygerberg Partnership were also present.

Professor Akash Anandraj, the director of the Centre for Algal Biotechnology at the Mangosuthu University of Technology, said that the primary objective of this project is to create a model that fosters the acceleration of technology innovation and commercialisation.

“The envisioned model aims to establish a robust tech ecosystem, uniting exceptional talent, visionary leaders, investors, and government entities. Through this collaborative effort, the network aims to become stronger, more innovative, inclusive and, ultimately, successful,” he added.

Anandraj said the initiative was important because it allows valuable patents from universities of technology to reach the market through the Adapted Venture Builder, offering the foundation for any start-up to survive and be protected.

This is the first Venture Builder offered to universities of technology, which takes technology from the universities of technology Tech Transfer Offices through a well-structured pipeline into commercialisation.

He said there was a clear line of sight from techno patents to commercialisation via a well-founded and planned start-up that occupies a unique space in that industry.

“As one of the smallest universities of technology, located in the Umlazi township, we would like to contribute to building the foundation of the Venture Building system in partnership with other universities of technology. We want to share our experience at MUT, which may contribute to shaping the Venture Builder by incorporating the background and locality of all UoTs [universities of technology],” he said.

Asked how this would contribute to the tertiary landscape in the country, Anandraj said that, by reducing the risk and increasing the success of a start-up, South Africa would generate patents, commerce and export, contributing to an increase in the gross domestic product.

As a result, Anandraj said, trade and technopreneurs would contribute to an increase in manufacturing, thus creating jobs, reducing poverty and beginning to empower entrepreneurs from all universities of technology in the country.

Dr Izabeth Conradie, the manager of the idea generation unit at the Central University of Technology, Free State, agreed that the Venture Builder programme would support the work of the Technology Transfer Office (TTO) at higher education institutions, especially newly created or understaffed offices.

She said that the pooling of skills and expertise of universities of technology via the Venture Builder structure would ensure an advantage as this will mean more leverage when reaching out to potential funders and more exposure in taking products to market.

But she noted that the gap in the system was taking products to large-scale production with constant market analysis; thus, the Venture Builder would be a perfect fit and a unique offering to innovators starting their own companies at a high level, a service currently not offered by TTOs.

Through mentorship and training at UoTs, the Venture Builder could increase entrepreneurs’ exposure to the opportunities and experts available.

Expectations among attendees were high, along with enthusiasm in abundance – but more planning workshops are on the menu before the anticipated 2024 launch that could bring change – and opportunities galore.

This article is published in partnership with the Technological Higher Education Network South Africa (THENSA). University World News is solely responsible for the editorial content.