Khoebo Innovation Programme
By Mpho Moloi
The Department of Trade Industry and Competition (dtic), alongside the Industrial Development Corporation (IDC) and the University of the Free State (UFS) Bloemfontein Campus, is set to launch the Khoebo Innovation Promotion Programme (KIPP) on Monday, aiming to propel innovation among early-stage Small and Medium Enterprises (SMEs) in the Free State. The programme, which seeks to enhance market access for locally developed innovations, is a promising initiative designed to boost economic growth and competitiveness in South Africa.
This launch follows an initial unveiling of KIPP in June 2024 in Johannesburg, and the programme will be introduced regionally across the country. Through this phased rollout, the dtic and its partners aspire to create an inclusive economic environment where innovative SMEs are empowered to thrive, thus contributing to a more diverse and resilient South African economy.
Supporting Early-Stage SMEs and Local Innovations
The launch of KIPP in the Free State marks a crucial step in addressing challenges faced by early-stage SMEs, particularly those focusing on technology and innovation. Many small businesses struggle to penetrate the market due to limited access to funding, a lack of resources, and the absence of supportive networks. KIPP’s objectives are clear: to provide these enterprises with the support they need to succeed and to foster a more dynamic innovation ecosystem within the Free State and beyond.
According to Yunus Hoosen, Acting Deputy Director-General of Investment and Spatial Industrial Development at the dtic, KIPP is designed to be a catalyst for economic transformation. Hoosen highlighted that since the programme’s establishment in 2020, KIPP has funded over 36 projects across various sectors, with R148.2 million committed and R113.8 million already disbursed. “The launch in Bloemfontein will showcase our achievements so far and demonstrate KIPP’s positive impact on local enterprises,” he said. This regional launch aims to build awareness, encourage applications from Free State-based SMEs, and foster connections among industry stakeholders.
A Platform for Knowledge Sharing and Public Engagement
The launch event will feature an interactive stakeholder engagement session, providing attendees with valuable insights into KIPP’s objectives, application processes, and potential benefits for eligible SMEs. The dtic and IDC have underscored the importance of this engagement, as it aims to “increase public awareness, inspire participation, and ensure a transparent understanding of KIPP’s framework and goals.”
The event is expected to draw a diverse audience, including local entrepreneurs, SME owners in the tech and innovation sectors, industry funders, and university students and researchers interested in entrepreneurship. By bringing together a broad spectrum of participants, KIPP aims to create an environment where knowledge sharing can thrive, fostering collaboration among entrepreneurs, investors, and thought leaders who share a common goal of driving economic progress through innovation.
Building a Competitive and Inclusive Economy
KIPP’s focus on SMEs and innovation is in line with South Africa’s broader economic vision of creating a competitive and inclusive economy. The dtic’s partnership with the IDC and the UFS is a testament to the government’s commitment to supporting local talent and promoting economic transformation. South Africa, like many developing countries, faces the challenge of bridging the gap between small, innovative enterprises and established market players. Programmes like KIPP address this gap by providing the necessary support for SMEs to compete on a larger scale.
The dtic has indicated that one of KIPP’s primary goals is to ensure that more innovative products and solutions developed in South Africa reach the market. By equipping SMEs with funding, mentorship, and networking opportunities, the programme seeks to create a pipeline of commercially viable innovations that can enhance South Africa’s standing in the global economy.
Addressing Challenges Faced by SMEs in the Free State
The Free State, like many provinces, faces unique challenges in supporting SMEs, particularly in rural and underserved areas. Many entrepreneurs in these regions struggle with limited access to capital, infrastructure, and markets. KIPP’s regional launch in the Free State is therefore seen as an important step in decentralising support and ensuring that innovation-driven growth reaches every corner of the country. This initiative will enable Free State SMEs to not only access funding but also to benefit from a supportive ecosystem that encourages innovation and growth.
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