In a significant stride towards realizing its vision of becoming a university of industries, the Botswana International University of Science and Technology (BIUST) and the Botswana Development Corporation (BDC) signed a Memorandum of Understanding (MoU) on the 11th of March 2024.
This landmark agreement represents a momentous step towards fostering collaboration between academia and industry to advance Botswana’s economic development and innovation agenda.
Speaking at the signing ceremony, Prof Otlogetswe Totolo, Vice Chancellor of BIUST, emphasized the shared commitment between the two organizations to advance Botswana’s economic development. Highlighting BIUST’s dedication to academic excellence and cutting-edge research, Prof Totolo underscored the institution’s aim to cultivate a culture of entrepreneurship, empowering students and faculty to contribute meaningfully to the nation’s economic aspirations.The partnership between BIUST and BDC brings together a young yet ambitious institution dedicated to academic excellence and a development finance institution focused on stimulating private sector growth in Botswana. Prof Totolo highlighted this collaboration as a significant opportunity for BIUST to fulfill its obligation to pursue
strategic partnerships bridging the gap between academia and industry.
The scope of the MoU outlines various areas of collaboration aimed at harnessing the power of research, innovation, and entrepreneurship. These include collaboration on proposal ideation, commercialization of research outputs, and screening of prospective licensees. Through joint efforts, BIUST and BDC aim to translate knowledge and ideas into tangible economic value, fostering economic growth and job creation. Mr. Cross Kgosidiile, Managing Director of BDC, emphasized the importance of transitioning to a knowledge based economy driven by innovation and technological advancement. He highlighted BIUST’s role as a Centre of excellence in science and technology education, nurturing the next generation of leaders and innovators crucial for realizing Botswana’s vision of becoming a high-income economy by 2036.
As BIUST and BDC embark on this collaborative journey, they remain steadfast in their commitment to building a knowledge-based economy that empowers citizens and fosters inclusive growth. This partnership promises to shape a brighter future for Botswana, propelling the nation towards prosperity and progress.
The signing of the MoU between BIUST and BDC marks the beginning of an exciting chapter in Botswana’s journey towards economic advancement and innovation. Together, BIUST and BDC are poised to make significant strides in driving innovation, fostering economic growth, and shaping a prosperous future for Botswana.