Speech by the Board Chairperson of the Gauteng Growth and Development Agency,
Mr. Craig Cornish

Honourable Guests, Distinguished Stakeholders, and Esteemed Colleagues,

It is an honour and privilege to welcome you all to this vital Round Table Discussion on Innovation, Tech Hubs, and Digital Skills as drivers of economic growth in Gauteng. As the Chairperson of the Gauteng Growth and Development Agency, a holding company of The Innovation Hub, I stand before you today with a deep sense of purpose, knowing that the conversations we engage in here will shape the future of innovation, enterprise development, and economic transformation in our province and beyond.

As we prepare for the upcoming Gauteng Investment Conference, this session serves as an essential platform to showcase how investment in innovation, digital skills, and technology hubs can unlock economic opportunities, drive job creation, and position Gauteng as the nucleus of a globally competitive knowledge economy.

The Role of Innovation in Economic Growth

Innovation is more than a buzzword; it is the engine of economic resilience, productivity, and inclusive growth. Across the world, economies that prioritize research, technology, and entrepreneurship have demonstrated remarkable advancements in wealth creation and social upliftment. Gauteng, as the economic powerhouse of South Africa, must continue to lead the charge in developing an ecosystem that fosters creativity, competitiveness, and sustainability.

Yet, despite our aspirations, SMMEs, startups, and innovators continue to face critical challenges that hinder their ability to thrive. Allow me to highlight a few key barriers that require urgent and strategic interventions:

• Access to Capital – A mere 12% of SMMEs secure financing through formal channels. This is a pressing concern that must be addressed through enhanced funding mechanisms tailored to innovation-driven enterprises.
• Infrastructure Limitations – The high cost of reliable internet and lack of affordable co-working spaces and digital infrastructure remain major hurdles for SMMEs seeking to scale operations and implement digital solutions.
• Skills Gap – A shortage of skilled workers and leaders capable of driving technological change hampers our ability to leverage innovation and technology for sustainable economic growth.

How The Innovation Hub (TIH) is Addressing These Challenges

At The Innovation Hub, we believe that challenges present opportunities for bold solutions. Through our initiatives, we have established a supportive ecosystem that provides entrepreneurs and innovators with the tools necessary to scale, compete, and contribute to the broader economy.

• Access to Capital
  • We facilitate access to funding through partnerships with Technology Innovation Agency (TIA), the Department of Science and Innovation (DSI), and private sector investors.
  • We offer seed funding to support prototyping, market testing, and regulatory approvals.
  • Our investment-readiness programs equip SMMEs with mentorship and strategic financial guidance to secure funding opportunities.
• Infrastructure and Digital Transformation
  • TIH offers affordable co-working spaces, high-speed internet, and shared research facilities to innovation-driven enterprises.
  • We drive cluster development initiatives, fostering sector-specific innovation ecosystems that allow startups to access critical infrastructure at a reduced cost.
  • Our investment in digital platforms and smart technologies ensures that small businesses can embrace Industry 4.0 solutions to enhance efficiency and scalability.
• Skills Development and Capacity Building
  • Through partnerships with institutions such as Cisco Edge, universities, and private sector stakeholders, we provide structured skills development programs focusing on technology, digital innovation, and entrepreneurship.
  • We champion mentorship and leadership training, ensuring that SMME founders acquire the competencies necessary to scale their businesses.
  • Our work-integrated learning programs bridge the gap between academia and industry, equipping graduates and young professionals with real-world experience.

The Township Economy: A Key Pillar of Economic Growth

The township economy represents an untapped reservoir of economic potential, contributing more than R600 billion annually—over 6% of South Africa's GDP. Yet, this sector remains underserved in terms of technology adoption, digital inclusion, and access to structured support systems.

TIHMC is actively involved in revitalizing township economies by:

• Establishing eKasiLabs innovation hubs to support entrepreneurs in townships.
• Offering tech-based business development programs that empower informal businesses with digital tools and market access.
• Promoting digital skills training, ensuring that township youth can participate meaningfully in the digital economy.

The Way Forward: Investing in Innovation for Gauteng’s Future

As we move towards the Gauteng Investment Conference, we must collectively embrace a shared vision that prioritizes technology-driven economic development. To achieve this, I urge all stakeholders to commit to the following:

• Investing in Digital Infrastructure and Skills Development – Ensuring that SMMEs, township businesses, and youth have access to the digital tools, training, and mentorship needed to thrive.
• Supporting Enterprise Development – Providing funding, incubation, and market access to startups operating in high-growth sectors such as the digital economy, green technology, and bioeconomy.
• Fostering Market Access for Township Entrepreneurs – Strengthening initiatives like eKasiLabs to bridge the gap between township businesses and mainstream economic opportunities.
• Developing Land for High-Growth Companies – Attracting investors and companies that can leverage Gauteng’s economic enablers, from digital infrastructure to a skilled workforce.

Together, through strategic collaboration, investment in innovation, and a commitment to inclusive economic transformation, we can position Gauteng as a world-class hub for innovation, enterprise, and digital excellence.

Thank you, and I look forward to fruitful discussions and meaningful partnerships that will drive our shared vision forward.