The Science Park was established in 1999 to allow community access to the institution’s technology and applied research. The Science Park is in effect a bridge between CUT’s expertise on the one hand, and the community that stands to benefit on the other. By making technology and expertise available to the entrepreneur, the development of new business in the region is encouraged and jobs are created.
INNOVATION CENTRE ACTIVITIES:
The Park provides a wide range of support to new innovators. New products and processes are developed by these innovators under the mentorship of academics. Specialist equipment is provided to the innovators at reduced cost.
INCUBATION CENTRE ACTIVITIES:
Incubation facilities are provided to “fledgling” SMMEs at specially reduced rates. Substantial managerial, administrative, technological and marketing services can also be utilised by enterprises in the incubator. Technological and other expertise available in the expertise centres of the CUT are available to these enterprises. The ideal is that businesses in the incubator will mature into independent membership of the Park.
SCIENCE PARK SMMES:
Depending on their particular requirements, participating small, micro and medium enterprises (SMMEs) can participate in the activities of the Science Park in a number of different ways. Membership of the Park entitles an independent SMME to the following benefits:
- Access to management, accounting and financial advisory services.
- Access to the facilities of any of the expertise centres, either on a fee-for-service basis, or as a third-party manufacturing facility
- The commercial effects of the networking provided by the physical proximity of a variety of small and medium-sized businesses.
- Access to reasonably priced and well-serviced office, workshop and storage areas – which can be adapted to the personal requirements of the specific enterprise.
The Park has equipment and expertise rarely found elsewhere. It allows entrepreneurs and investors to conduct pilot runs of products and processes without the high risk of major capital investment. Products and processes can be successfully developed and tailored to meet specific market needs.
The Park is an on-going source of new product proposals emanating from the academic processes of CUT.
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