Delivering Value for Money in Innovation: The THENSA Venture Builder Model

Despite notable progress made in addressing historical inequalities in public universities in South Africa, there are still patterns of systemic exclusions, marginalisation and discrimination. Universities of Technology (UoTs) still lag behind in developing and implementing robust technology innovation platforms. This has hindered commercialisation of research outcomes, resulting in smaller technology innovation portfolios and insufficient budget allocations for Research and Development (R&D) compared to their more developed counterparts. These constraints make it difficult for UoTs to attract funding and investment further entrenching disparities in innovation capacity. To address this, a venture builder (VB) established as a potential solution for accelerating technology innovation and commercialisation, and a vehicle to enable UoTs to engage more effectively with the National System of Innovation (NSI). The use of Venture Builder (VB) platforms to commercialise research from publicly funded institutions, and more importantly the formation of VBs by multiple institutions, had not previously been explored in the South African context. A VB offers a structured mechanism for UoTs to engage more effectively with the National System of Innovation (NSI), enabling them to translate research into market?ready solutions. Leveraging on such platforms can significantly enhance the country’s competitiveness in the global Deep Tech market – which is an urgent priority for South Africa’s innovation ecosystem.