Monday morning marked the start of a new dawn for two of the country’s top institutes, Botswana Development Corporation (BDC) and Botswana International University of Science and Technology (BIUST).
The duo put pen-to-paper on a strategic partnership aimed at fostering innovation, research, entrepreneurship and economic growth.
Hailed as a milestone moment full of potential, the Memorandum of Understanding (MoU) will see the two organisations team up on a number of initiatives to aid the country’s transition to a knowledge-based economy.
Speaking at the signing ceremony, BDC Managing Director (MD), Cross Kgosidiile, highlighted the importance of mindset change in opening up new possibilities for economic growth.
“Collaboration on proposal ideation will enable us to pool our expertise and resources to identify innovative solutions to pressing challenges facing our society. By supporting the commercialisation aspects of BIUST’s Research and Development projects, we can accelerate the transition of breakthrough technologies from the lab to the market, fostering economic growth and job creation,” he said.
Noting this was a match made in heaven, Kgosidiile added, “By leveraging BIUST research capabilities and BDC’s investment expertise, we can unlock new opportunities for economic diversification and competitiveness,” said Kgosidiile.
The MoU also includes collaborating on commercialisation of research outputs, screening of prospective licensees, and other mutually agreed-upon activities.
Through these joint efforts, BDC and BIUST aim to accelerate the translation of knowledge and ideas into tangible economic value, thereby contributing to the nation’s development agenda.
Voicing his pleasure at the new union, BIUST Vice-Chancellor, Professor Otlogetswe Totolo, predicted big things from the partnership.
“We are truly delighted at this MoU because it forms part of our drive towards fulfilling the obligation to pursue strategic partnerships that facilitate good neighbourliness between academia and the world of industry. As such, this occasion today signifies the beginning of a journey that shall allow our two institutions to leverage on each other respective strengths and resources to address the economic challenges and opportunities of our time,” said Totole, declaring the MoU represents a significant step forward in driving innovation and economic growth in Botswana.