23 Aug 2011

Programme director
Dignitaries present
Ladies and gentlemen
All protocol observed

On behalf of the government of KwaZulu-Natal we wish to express our sincere delight at being part of this auspicious occasion where we are meeting to launch an initiative which will ensure that technological development becomes one of the critical pillars of our economic development in the province.

From the outset, Programme Director, we want to extend an apology on behalf of our MEC, Mr Michael Mabuyakhulu who wanted to be with us today to witness the launch of this innovation technology business incubator but could not honour this invitation because of other pressing engagements. However, even though he is not with us today, we have no doubt that in future he will take time off to come and see this wonderful work because this is a subject that is very close to his heart.

As the government of KwaZulu-Natal we want to applaud this bold step which has been taken by the Durban University of Technology to build a centre of this nature. We have no doubt that this facility will go a long way towards providing our budding entrepreneurs with the opportunities to realise their potential and ensure that they are competitive enough in the global market.

Programme Director, as government we have always believed that the challenges facing our country cannot be resolved by government working alone. It is because of this reason that we have made a clarion call to all stakeholders in our society to work in tandem with us in our quest to create a society in which all of us can have a stake. In this regard, institutions of higher learning as producers of knowledge have a big role to play.

While having said this, Programme Director, we want to also state it without any fear of contradiction that while universities need to play a critical role to produce knowledgeable and highly skilled citizens, it is critical that such knowledge and skills should be linked to the needs of that particular society. In other words, universities, because they have an interest in the failure and the success of the society in which they operate, can ill afford to work out of sync with the national objectives.

We all know that in our society some of the pressing challenges of our times are the triplets of poverty, unemployment and inequality. Therefore, it is our contention that in, in their programme of action, universities need to respond to these challenges. We are therefore heartened that DUT has grasp the nettle by starting this facility which we have no doubt that it will go a long way towards producing and nurturing a new breed of entrepreneurs who are at the cutting edge of technological innovation and high quality production.

Programme Director, it has been proven time and again that learning the robes in business is a daunting task when you don't have someone to hold your hand and show you the intricacies of running a profitable business venture.

Incubation has therefore become one of the critical areas of focus for economic and business development. This is even more pronounced when you are dealing with an economic field as challenging as new technology. We therefore hope that other institutions of higher learning will take a leaf out of the DUT's book and start other similar facilities.

In June this year our Department of Economic Development and Tourism hosted what has been described as a ground-breaking conference which looked at the issue of entrepreurship and investment in our province of KwaZulu-Natal. We decided to host the conference because we understand that the challenges facing the world today mean that we need to be innovative in what ever we do.

But more importantly, as the shaky global economic situation has shown, we can no longer afford to be inward looking in whatever we do.

One of the questions we posed at the conference was how can our province, in the context of the vacillating global economic conditions, position itself as an investment destination of choice while also creating a cadre of entrepreneurs who will be able to hold their own in the global economic arena.

Indeed, Programme Director, one of the key resolutions of the conference was that in order to develop a culture of entrepreneurship in our province, we need to take a number of practical steps. Key amongst these is the role that institutions of higher learning such as the DUT have to play. In our view, we believe we need to take a conscious effort to ensure that entrepreneurship development becomes a reality as opposed to the current piece meal
approach to this issue.

We believe that entrepreneurship development should be part of the curricula of higher education. We also believe that entrepreneurs who are innovative, able to grasp opportunities and less reliant on government tenders should be encouraged and supported.

One of the greatest ironies about America today is that while its economy is on the skids, with the country having been downgraded by Standard and Poor however, it remains one of the most innovative societies on earth as we speak.

It is the US which has given us the latest communication fad, known as social networking which includes amongst others, Twitter and Facebook. But more importantly, it is instructive to note that American brands such as Apple, Microsoft, Google are still ranked amongst the most valuable brands in the world.

This testifies to the country's indomitable entrepreneurial spirit, an attribute that we have to emulate as a country and as a province if we are to place our province on the global economic map. In order for our country to be able to compete in the rough and tumble world of globalisation we need to create our own Mark Zuckerberg, the founder of Facebook. We need to nurture a new cadre of entrepreneurs who will think locally but act globally.

But more importantly we need to invest in technologies that will drive innovation in business. We also need to encourage universities to create platforms for knowledge sharing and identify and link organisations who are promoting innovation and creativity.

In conclusion, we believe that our young people have been given a canvas to map out a future of their dreams. The present economic crisis brought about by globalisation presents a confluence of opportunities and challenges. It is up to us to seize these opportunities and ensure that our province and indeed, our country are counted among the best in the world. As Franz Fanon once said: each generation must discover its mission, fulfill it or betray it.

Our greatest mission is to create a society that can compete with the best in the world not only in the technological arena, but in all spheres of human endevour. This is a mission that we cannot afford to betray.

I thank you.

Source: KwaZulu-Natal Department of Economic Development and Tourism
Issued by: KwaZulu-Natal Economic Development and Tourism
23 Aug 2011