Study Shows Challenges Faced By Teaching Entrepreneurs To Protect Their Intellectual Property
Entrepreneurs should deal with challenges in their own communities, conduct thorough research, and protect their intellectual capital on their way to monetising their unique ideas.
They received this advice recently when the North-West University (NWU) hosted the 4th annual Intellectual Property and Technology Commercialisation Colloquium under the theme: “Driving innovation and positioning Intellectual Property Commercialisation for post Covid-19 pandemic.”
The two-day gathering brought together high school learners, postgraduate students, exhibitors, and small, medium and micro-enterprises (SMMEs). The colloquium was hosted in partnership with the Companies and Intellectual Property Commission, the National Intellectual Property Management Office, and the Department of Science and Innovation and the Department of Trade, Industry and Competition (dtic).
Delivering the keynote address, dtic deputy minister Fikile Majola said the event would present insights, strategies and execution tools needed to transform innovation into commercial products and services.
“It is incumbent on all stakeholders to strengthen the rules of intellectual property rights among technology based SMMEs and innovators in South Africa – which appears to be quite limited,” said Fekile.
The NWU’s deputy vice-chancellor for research and innovation, Prof Jeffrey Mphahlele, announced that the university is in the process of concluding a memorandum of understanding with the dtic.
“The reality is that there is still a lot of work to do in the area of intellectual property (IP). The value chain of IP and commercialisation is quite daunting, but we are taking this step-by-step,” said Prof Mphahlele.
Speaking on the sidelines at the event, Dr Mesuli Mbanjwa from the NWU’s Technology Transfer and Innovation Support Office, said their key role is to identify the IP inherent in the research being conducted at the university. There is also a need to assist students, researchers and the academics in various ways to protect and commercialise the IP.
“In short, commercialisation is just about impact. How do you scale the impact of research at the university? As an office, we are trying to reach more of the NWU communities. We now have an intensified programme focusing on arts, humanies and social sciences to find opportunities for scaling the impact for commercialisation,” explains Dr Mbanjwa.
Meanwhile, a special masterclass for SMMEs was also held to unpack everything entrepreneurs need to know, including the role of incubation in commercialisation, how to pitch to investors as well as business development skills.
Exhibitors were also afforded an opportunity to display their products and services to stimulate interest among other potential innovators.