Africa-Press – Botswana. In a significant step towards fostering technological advancements and innovation, the Botswana Development Corporation (BDC) on Thursday signed a Memorandum of Understanding (MoU) with the Botswana Institute for Technology and Innovation(BITRI).
BDC managing director, Mr Cross Kgosidiile said the MoU Thursday paved way for a promising future in technology and innovation. “BDC as the government’s main investment arm, will provide funding, training, mentoring and impart entrepreneurial skills and competencies to BITRI,” he said.
Also, he said, this would extend to BITRI affiliates and subsidiaries in order to transform them into sustainable enterprises that could contribute meaningfully to Botswana’s economic growth and development.
Mr Kgosidiile said the agreement would also drive an economic system in which knowledge, information and intellectual assets were the primary drivers of growth and development.
“Investing in cutting edge technologies and nurturing a culture of innovation, positions Botswana as an attractive destination for global investors seeking opportunities in a dynamic and forward looking environment which aligns with our vision 2036 national aspirations to attain a high income status and diversify our economy,” he said.
Elaborating further on the MoU, he explained that it aimed at providing collaboration and consideration of funding the commercialisation aspects of BITRI’s research and development output. The MoU, he said, encompassed collaboration on proposal ideation, screening and approval of potential licenses and assignees of BITRI technologies.
Technology would provide a crucial pathway for funding and empowering entrepreneurs and businesses to leverage them for the greater benefit of the society, he said.
“The partnership will foster an ecosystem that encourages, creativity, research, development and ultimately leading to the successful commercialisation of novel technologies,” he said.
For his part, BITRI chief executive officer Professor Shedden Masupe expressed gratitude for the move BDC took to partner with the institution in order to create an environment where groundbreaking ideas and research could flourish and grow into tangible and commercial ventures. He also said that it was through such partnerships that silos in the innovation ecosystem could be broken.
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