The Department of Trade, Industry and Competition (DTIC) has partnered with the South African Innovation Summit (SAIS) to host the 2020 Innovation Summit virtual event, which will be held from September 30 to October 1.
The summit brings together innovation leaders from different countries, backgrounds, disciplines and world views, to create an environment that will augment the South African economy and have a positive effect on entrepreneurs’ competitive edge, says the DTIC.
This year’s programme will also feature an Inventors Garage competition, where participants will showcase their creations at the summit.
The competition is a tribute to the spirit of innovation and the work of dedicated inventors whose pioneering inventions could provide answers to some of the biggest challenges faced currently, says the DTIC.
The Innovation Summit showcases, connects, capacitates and originates the best startup talent from Africa to the world, it adds.
“During the summit, we will increase awareness of innovation and new digital technologies, especially to the existing black industrialists and grassroots innovators, through collaboration with different economic actors,” says Trade, Industry and Competition Deputy Minister Nomalungelo Gina.
She adds that the DTIC will also be launching the Khoebo Innovation Promotion Programme (KIPP) during the summit.
“We have partnered with the Industrial Development Corporation on the KIPP and the implementation of the programme throughout the country will happen in line with the rural and township economic revitalisation focus of government.
"Support for grassroots innovators who wish to apply will be provided during the launch,” she notes.
The KIPP will have two subschemes, with the first being the Small Medium Enterprise Growth Scheme, which will benefit enterprises already in existence that are looking to scale up and penetrate new markets.
Secondly, the Grassroots Innovation Funding Scheme will focus on grassroots innovators that are at startup phase or trading on a small scale.