Bloemfontein: The Department of Trade Industry and Competition (dtic), in collaboration with the Industrial Development Corporation (IDC) and the University of Free State, Bloemfontein Campus, is set to launch the Khoebo Innovation Promotion Programme (KIPP) on Monday. This initiative aims to stimulate innovation among early-stage Small Medium Enterprises (SMEs) within the Free State region.
According to South African Government News Agency, the programme, which was initially launched in Johannesburg in June 2024, will be rolled out through a series of regional events across the country. The primary goal of KIPP is to assist early-stage innovative SMEs in gaining market entry with their locally developed innovations. This, in turn, is expected to foster a more competitive economic environment, thereby contributing to the growth of the South African economy.
Yunus Hoosen, the Acting Deputy Director-General of Investment and Spatial Industrial Development at the dtic, emphasized the importance of the launch i
n facilitating connections with potential partners, beneficiaries, and supporters. These interactions are aimed at building relationships that align with the fund’s objectives. Since its inception in 2020, KIPP has funded over 36 projects across different sectors, with R148.2 million committed and R113.8 million disbursed to date.
Hoosen highlighted that the launch event will showcase the achievements of KIPP, illustrating the positive impact of the programme. ‘The session is intended to enhance knowledge and increase public gain and clear understanding of KIPP’s objectives and application process,’ he stated. The event will feature interactive stakeholder engagement to raise public awareness and encourage participation from Free State innovative SMEs eligible for KIPP funding and support.
The launch is expected to attract local entrepreneurs and SME owners, particularly those in the technology and innovation sectors, along with industry stakeholders and funders. Additionally, potential partners interested
in economic transformation through innovation, as well as university students and researchers focused on innovation and entrepreneurship, are anticipated to participate in the event.