The Wits Innovation Centre has received a tremendous boost from Dr David Fine, a Wits alumnus to establish a Chair in Innovation and is working with other partners like the British Council and the University of Edinburgh to further entrepreneurship and tackle unemployment. However, given the nature of innovation, entrepreneurship, and commercialisation, additional resources are being sourced through a synergistic community of commercial partners, in addition to the Wits Innovation Fund. This includes concerted efforts from the Development and Fundraising Office, the Wits Health Consortium, and Wits Commercial Enterprise, to identify and tailor new investment, incubation and seed funding opportunities for donors and investors.
Philanthropy and Donor Contributions
- Beyond Dr. Fine’s initial endowment, we seek funding from alumni, foundations, and philanthropists.
- Donor funding supports innovation fellowships, seed grants, scholarships, and infrastructure.
Corporate Sponsorships and Partnerships
- Companies engage by sponsoring innovation labs and domain-specific ecosystems.
Government and Public Sector Support
- WIC aligns with the priorities of the DSI, TIA, and NIPMO, positioning itself to attract national innovation funding.
University-Generated Income
- WIC offers short courses, executive training, and consultancy in innovation and entrepreneurship, generating additional income.
- Returns from IP licensing, royalties, and equity in spin-out companies strengthen long-term sustainability.
Letlotlo Phohole is the Director of the WIC and a seasoned technology and innovation management professional with over 25 years of experience across industry, government agencies, academia and entrepreneurship. He oversees all strategic and operational aspects of the WIC and provides leadership to the Innovation Support team, the innovation laboratories, and the Industry Solutions Laboratories.
The WIC reports directly to Professor Lynn Morris, Deputy Vice-Chancellor: Research and Innovation, who oversees the integration and implementation of the University’s Innovation Strategy across various entities within the institution (including faculties, service departments, commercial units and the Research Office), and beyond (the public and private sectors, academia, and civil society).
Innovation Advisory Board (IAB):
- Provides strategic guidance and external expertise to align WIC’s objectives with global best practices.
University Research & Innovation Committee (UR&IC):
- Ensures WIC activities are integrated with Wits’ broader research and innovation strategy.
- Seed Fund Committee: Allocates early-stage funding to de-risk innovations and prepare them for investment.
- Ad-hoc Committee: Reviews and approves spin-out structures, licensing deals, and compliance matters.
Commercialisation Forum (CF):
- Coordinates WIC, WCE, and WHC engagement, advancing opportunities toward commercialisation.
Telkom ISL Steering Committee:
- Guides strategy, research priorities, and IP management for the Industry Solutions Lab.
The WIC also monitors and evaluates the implementation of the Wits Strategic Plan for Innovation (2023 - 2027), reports on innovation activities, and facilitates communication around academic endeavours at Wits.
The Wits Innovation Centre acts as a hub for innovation at Wits, but does not act alone. It is embedded in the innovation ecosystem, and will comprise of multiple physical and virtual hubs, incubators and accelerators which are spatially distributed across Wits’ various campuses, so that they are easily accessible to researchers and students working in all faculties and research entities. The hubs are differently equipped and structured to support innovators working in diverse areas.
