The Innovation Hub, a subsidiary of Gauteng Growth and Development Agency, strategically tasked with driving innovation in Gauteng Province and a leader in Enterprise Development has been honoured at the prestigious Startup Ecosystem Stars (SES) Awards.
The event, co-hosted by the France International Chamber of Commerce (ICC) and Mind The Bridge took place at the Headquarters in Paris, France on 07 December 2023. The award ceremony recognized The Innovation Hub for its outstanding contributions to nurturing a vibrant innovation ecosystem and its contribution in honing the entrepreneurial skills and Intellectual Property to increase innovation capabilities and grow the Gauteng Economy to be able to compete globally.
The SES Awards aim to shine a spotlight on excellence in global innovation ecosystems, with invited organizations representing cities, regions, or countries. The Innovation Hub’s accolade is part of a broader celebration that includes 14 regions and cities across four categories. This recognition is further highlighted in the report, “Building Startup Ecosystem Stars: The World’s Life Cycle of Innovation 2023.” The report showcases groundbreaking case studies, spotlighting exemplary practices and pivotal figures shaping the landscape of global innovation.
Mothibedi Matshele, the Interim Chief Executive Officer of The Innovation Hub, expressed gratitude, “Being recognized on a global scale is encouraging to continue undeterred in our mission to foster innovation and support entrepreneurs. This acknowledgment fuels our commitment to driving positive change.”
The Innovation Hub’s success story is interwoven with global narratives, illustrating its integral role in the interconnected web of innovation. This acknowledgment is not just an award; it’s a testament to the Hub’s commitment to fostering innovation and supporting entrepreneurs on a global scale. Global “innovation hunters” today, such as Venture Capital funds and large corporates are predominantly focused on a handful of global hotspots characterized by a significant concentration of scale-ups, capital, and talent.
These hotspots include Silicon Valley, Israel, and a limited number of other hubs worldwide. Meanwhile, most local ecosystems, encompassing countries, regions, and cities, remain relatively unnoticed. For these locales, the imperative of scaling and establishing rapid global connections is not a viable option. Despite this, many local governments are actively prioritizing policies and allocating public funding to foster the growth of their economies through the attraction and promotion of technological innovation.
In conclusion, “As the Hub receives this prestigious recognition, we also celebrate the broader community of innovators acknowledged in this global showcase. The report encapsulates the essence of achievement, serving as inspiration for those embarking on their innovation journey. In the world of innovation, every recognition is a step forward, and The Innovation Hub is leading the way with innovation that knows no bounds,” further explained Mothibedi.