The 4th Edition of Innovate Durban’s Innovation Publication has been Released.
In celebration of continued innovation in Durban and beyond, Innovate Durban is proud to present the 4 of its annual Innovation Publication which highlights the state of innovation in KwaZulu-Natal (KZN). The publication’s goals are to celebrate innovation, inform all interested parties about the state of innovation in KZN, and keep them abreast on the newest ideas and trends in the innovation field. The platform also enables Innovate Durban to highlight and commemorate the achievements of some of the top innovators in the region.
The Innovation Publication is a key research product that offers information to build and improve the KwaZulu-Natal innovation ecosystem. The research offers crucial information to investors and other key stakeholders, in addition to pointing out how and where innovators can get support. It also offers possibilities for stakeholders to connect. Innovate Durban is working to achieve the following results by broadening its research focus:
• Increase proven, sustainable partnerships formed
• Increase funding, incubation, and other support accessed by innovators
• Increase investment and other resources being committed to the innovation ecosystem
The publication is also housed on the dashboard of the Innovation portal, a dynamic tool for displaying data, honouring innovation, connecting stakeholders, facilitating cooperation, and establishing new partnerships and opportunities.
This year’s report covers previous years research and introduces five new indicators and sub-indicators from Provincial GDP (2016-2020), National GDP, Number of active innovation funds by type (2022), Human Development Index (2013-2020) and the Gini Index.
The information and data used in this study were obtained through secondary data collection channels. In this publication we provide an overview of some of the main innovation support institutions active in the province. These institutions offer support to start-ups by providing programmes, prototyping infrastructure, financial support and/or consulting services.
The results of the State of Innovation Indicators show how the COVID-19 pandemic, civil unrest and flooding disasters have impacted the innovation ecosystem. The KZN Innovation Growth Index, the central indicator of the level of innovation in the province shows a decline for 2020. This results from a significant decline in the number of doctorates, one of the four index matrices.
The report clearly shows KwaZulu-Natal’s potential to become an innovation-friendly environment. The province is a major player in the national economy and has the potential to grow its innovator community through government and private sector interventions. Innovate Durban is proud to present this publication. We are excited to create a platform that encourages and celebrates innovative entrepreneurship to enhance KZN’s commercial competitiveness.
Highlights of the data collected include the :
Mapping of KZN entrepreneurial and innovation support mechanisms with institutions
The value and number of venture capital investments have experienced growth since 2013. This includes the total amount of capital allocated to businesses and the sum of investment deals made
KwaZulu-Natal has the second-largest economy in the country. It contributes 16% towards the country’s GDP
The publication is readily available for download on the Innovate Durban website portal.
or get it on the below QR code
We look forward to building a unified strategy to stimulate an effective innovation ecosystem in KZN.
Innovate Durban Team