The eMonti Science and Technology Park (eMonti STP) launched its first technology business incubator, Chemin, at its Pilot Park in the East London Industrial Development Zone on July 26.
"This business incubator has an important role to play in enabling the eMonti STP realise its objectives by improving the competitiveness of the region through the promotion of economic development and creation of potential job opportunities through Small and Medium Enterprises (SMEs) and business development initiatives," explains eMonti STP Manager: Community Marketing and Networking, Ludwe Fani.
Chemin specialises in supporting the start-up and growth of SMEs in the downstream chemical industry. These sectors include relatively high value pure chemicals that are typically used as active ingredients in formulated products such as cosmetics, cleaning detergents and perfumes, as well as all formulated speciality chemicals used in industrial and non-consumer applications (eg paints, mining chemicals, textile specialities, paper chemicals, etc.).
The satellite centre at the eMonti STP is funded through the Department of Economic Development, Environmental Affairs and Tourism (DEDEAT), the SEDA Technology Programme, the Eskom Foundation and the Chemical Industries Education and Training Authority (CHIETA).
According to Ms Fani, the eMonti STP aims to increase the wealth of the local economy by promoting a culture of innovation amongst its associated businesses all within the framework of an internationally recognised science and technology park.
"To enable this, eMonti STP aims to stimulate and manage the flow of knowledge and technology amongst the region's institutions of higher learning, businesses, and government; it also aims to provide high quality space, facilities and value-added services to institutions facilitating the growth of entrepreneurial start-up companies through incubation and spin-off processes," she explained.