MSU eyes innovation hub earnings

Published: 08 June 2018

MIDLANDS State University (MSU) Acting Vice Chancellor Professor Victor Muzvidziwa says the recently opened innovation hub will give the institution the opportunity to generate more revenue for it operations.

President Emmerson Mnangagwa on Wednesday officially opened the MSU incubation hub at its main campus in Gweru. The MSU incubation hub is the first to be opened in the country where six universities have been selected to pilot the project. Prof Muzvidziwa said the university will leverage on the hub to look at new ways of raising revenue for the sustenance of the university.

"I am confident that through the hub MSU has good prospects for resource mobilisation thus as has been the case with renowned universities the world over. The need to generate third income streams remain firmly positioned in our plans," said Prof Muzvidziwa.

He said commercialising knowledge from the university, will help to create more jobs and increase growth, and enable valuable solutions to reach and benefit society more rapidly. In Sweden, one of the top universities Lund University has commercialised innovation through is innovation arm, LU innovation where they help students and researchers to convert ideas and research results into new successful products, services and methods for the market.

Since 1999, the university has invested in close to 90 new research companies, which together have generated just over 3 300 person-years and over SEK 1 billion in tax revenues. Through the company part, the university can work operationally by taking new innovations to market – either via entering a joint partnership in research-based companies or helping to out-license research results to already established companies.

LU Innovation consists of a public authority part and a company part, LU Holding AB. These both function as one unit with a joint task and joint management. The university provides assistance in a number of ways, which include acting as a sounding board and offering business development, patent advice and support on issues relating to intangibles, financing in the various phases of a project and help in legal and contract-related matters among others.
- chroncile

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