The critical role of business incubators in the ecosystem, was the centre of discussions at this week’s launch of the G20 entrepreneurship incubator.
Business incubators are expected to nurture entrepreneurs from the ideation stage through to commercialization, enabling start-ups to grow into sustainable businesses that generate revenue and create jobs.
The incubator launched in the Eastern Cape is a collaborative effort between the Nelson Mandela University and the Department of Small Business Development.
Luthando Jack, Acting Vice-Chancellor of Nelson Mandela University, said “innovation, reinvention, and boldness are not luxuries; they are essential lifelines for our country’s future.”
Munei Budeli, a product of the incubator, shared an inspiring story of his journey, of challenges and determination to launch his driving school business.
Between 80 to 90 percent of the world’s largest economies are expected to meet later this year, at the G20 Summit, to shape the future of the world.
Stella Tembisa Ndabeni, Minister of Small Business Development, said in her keynote address “this year marks a historic moment for South Africa as we assume leadership of the Startup20 under our G20 Presidency for the very first time. It is a proud milestone, not only for our nation but for the African continent as a whole. This initiative forms part of what we call the development journey: from ideation to execution. When someone dares to dream envisioning themselves as a business owner, a job creator, a changemaker—we must walk that journey with them. Not with empty promises, but with real support, consistent action, and unwavering accountability. That’s how we build sustainable enterprises and, ultimately, a thriving, inclusive economy” she said.
Also at the event, are Dr. Pulleng Moleko from Nelson Mandela University, Nonzuzo Makanda- the Chairperson of SEDFA, Nonkqubela Ntomboxolo Pieters, MEC of Economic Development, Environmental Affairs and Tourism in the Eastern Cape.
Picture: Supplied