CPUT, through its Centre for Business Innovation and Incubation (BiiC), recently celebrated the official launch of a landmark Memorandum of Understanding (MOU) with African Bank.

The ceremony, hosted at the District Six Campus, aligned closely with CPUT’s Vision 2030 of building One Smart CPUT and the university’s MIT of Africa strategy, which positions CPUT as Africa’s leading technology-driven institution advancing innovation at scale.

Executive Director in the Office of the Vice-Chancellor, Prof Driekie Hay-Swemmer, emphasised the strategic significance of the partnership in strengthening student development, entrepreneurship, research, and innovation. Michael Twum-Darko, Head of BiiC, said the African Bank leadership reaffirmed the Bank’s commitment to empowering communities, youth, small and medium enterprises (SME's), and innovators - echoing its own Pitch Cred mandate, which positions African Bank as a champion of inclusive growth, digital transformation, and sustainable development.

A joint presentation by CPUT and African Bank teams showcased the roadmap for collaboration, including immediate and long-term initiatives across student innovation, financial literacy, youth and women empowerment, and solutions that advance the financial sector.

“At the heart of the partnership is BiiC, which is strategically positioned as African Bank’s innovation partner - leveraging CPUT’s applied research, student talent, multidisciplinary expertise, and incubation capacity. Through BiiC, CPUT will co-develop digital solutions, AI-enabled learning and reskilling systems, and community-centred financial inclusion innovations that respond directly to African Bank’s national priorities,” noted Twum-Darko.

He stated that before the end of the academic year, CPUT and African Bank will convene a high-level workshop with relevant stakeholders to design and prioritise three transformative flagship projects:

• Youth development and financial literacy programmes that prepare young people for economic participation.
• Young women empowerment and graduate internship pathways that strengthen employability and leadership.
• Student innovation and market-access partnerships enabling CPUT-developed solutions to reach industry, communities, and markets - creating shared commercial value for CPUT/BiiC and African Bank.

The partnership is expected to deliver meaningful impact through mentorship, work-based learning opportunities, access to professionals, technology development support, and financial inclusion projects designed to uplift underserved communities. Twum-Darko said the collaboration also positions African Bank as a progressive industry partner investing in future-focused skills development and innovation-driven social transformation.

“As CPUT continues its pathway to becoming the MIT of Africa, this MoU embodies a powerful alignment between academia, industry, and society - showcasing how collaborative innovation can unlock new opportunities for South Africa’s youth and economy.”

Written by CPUT News
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The Centre for Business Innovation and Incubation (BiiC) recently engaged with executives from First National Bank (FNB) in the Western and Eastern Cape at the FNB Portside Tower in Cape Town.

Professor Michael Twum-Darko, Head of BiiC, noted that the meeting was exploratory, aiming to assess how academic research and innovation capabilities can align with the strategic interests of FNB and its clients. “The session left a strong impression on FNB’s leadership, who expressed enthusiasm for the pioneering work being conducted by BiiC,” he stated. The executives committed to further discussions to explore opportunities for collaboration.

Twum-Darko, who teaches Technopreneurship to third-year Diploma in Banking students, attended the engagement with his class. The students had the opportunity to showcase innovative business models developed during their coursework, emphasizing venture building in the digital economy as the primary assessment method. The module prepares third-year Banking students to design robust ventures by developing:

• Compelling business visions and value propositions
• Clear objectives, business models, and business plans
• Marketing strategies and competitive analyses
• Entrepreneurial opportunities in the digital economy
• Administrative and management skills relevant to banking entrepreneurs
• Customer service frameworks and pricing strategies for banking and alternative banking sectors.

Using a design thinking approach integrated with an introductory banking research module, the students test and refine their business models on MyLaunchPad, a digital platform developed by BiiC.

The interaction with FNB executives provided the students with a unique opportunity to present their work, ask critical questions, and explore potential employment pathways. This direct exposure not only boosted their confidence but also underscored the relevance of CPUT’s academic programs to the financial services industry.

Twum-Darko provided an overview of BiiC’s structure and operations, particularly its role in FinTech venture building and startup incubation. He highlighted various minimum viable products (MVPs) developed within BiiC that are ready for strategic partnerships.

Central to his presentation was the introduction of Entreprenetics, a research-driven methodology that he co-developed with American partners. This methodology has been validated at Southern University, Upper Iowa University (Louisiana, USA), Harvard University, the University of Adelaide, and the University of Auckland. Entreprenetics is defined as a philosophy for driving entrepreneurship success, summarized by the formula:

E (Entrepreneurship success) = G (Genetics – who are you?) + M³ (Matrix, Methodology, and Mechanics as tools) + D (Ability and passion to adopt a new mindset)

He explained that this methodology integrates design thinking, systems thinking, and cybernetics to guide entrepreneurs and researchers in building sustainable ventures. Notably, it is also applied in postgraduate research, where students are encouraged to design research proposals with the explicit goal of creating businesses from their theses, rather than only after publication. A structured proposal template has already been developed for this purpose.

“FNB executives praised BiiC’s innovative approach to integrating academia, research, and industry relevance. Twum-Darko said the FNB executives emphasised his leadership and BiiC’s philosophy of innovation offer strong foundations for potential collaboration. “This engagement marks the beginning of what could become a transformative partnership between CPUT, BiiC, and FNB -one that not only advances innovation in the financial services sector but also enhances opportunities for CPUT students to become future leaders in banking and entrepreneurship.”

Written by CPUT News
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The Centre for Business Innovation and Incubation (BiiC) recently participated in a vibrant collaboration aimed at inspiring the next generation of technology enthusiasts at Thuto ke Matlaa Comprehensive High School in Tembisa, Johannesburg.

This engaging Career Day event was co-hosted by MTN Chenosis API Marketplace and Girlcode, and sought to encourage both girls and boys to explore careers in technology and showcased the exciting possibilities within the tech industry.

“At the heart of this initiative was the goal to demystify the pathway to a tech career, emphasising the importance of foundational subjects in high school,” said Prof Michael Twum-Darko, who led the BiiC. Twum-Darko added that the attendees were introduced to the key subjects essential for pursuing a career in technology, highlighting the role of mathematics, computer science, and physics in building a strong technical foundation.

He said that BiiC served as a technology and innovation partner to MTN Chenosis API Marketplace. “The BiiC Team showcased the cool factor of developing mobile apps using artificial intelligence (AI), captivating the learners with real-world applications, and demonstrating the limitless possibilities within the tech space.”

Twum-Darko also shared insights into BiiC's groundbreaking Machine Learning and AI online Learner Academy (Bridge-in), designed to bridge the gap between technical skills and the demands of the professional world. “This academy serves as a critical resource for newly recruited graduates at MTN Chenosis, providing them with practical training and hands-on experience to excel in the dynamic field of technology.”

He said the event proved to be an enriching experience for all attendees, fostering a spirit of curiosity and ambition among the students. By highlighting the collaborative efforts of industry leaders, educational institutions, and non-profit organisations, Career Day at Thuto ke Matlaa Comprehensive High School underscored the importance of nurturing talent and empowering the youth to embrace careers in tech, Twum-Darko remarked.

“Through such initiatives, the organisers and partners reaffirmed their commitment to fostering diversity and inclusivity within the tech ecosystem, inspiring the next generation of innovators and problem solvers.”

Written by CPUT News
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The Head of the Centre for Business Innovation and Incubation (BiiC) and Acting Head of the Graduate Centre for Management (GCM), Prof Michael Twum-Darko has been appointed as one of the lead strategic partners for the Africa Tourism Innovation Hub (ATIH).

The Hub is one of the key outcomes of the 2022 Africa Youth in Tourism Innovation Summit and Challenge, hosted by the Namibian Government under the leadership of the Ministry of Environment, Forestry and Tourism (MEFT).

Pioneered by the Africa Tourism Partners (ATP), the ATIH is a physical and virtual hub established in collaboration with the United Nations World Tourism Organization (UNWTO), Durban University of Technology, Namibia University of Science and Technology, the Ministry of Environment, Forestry, and Tourism (Namibia) and Cornell University. “As a pan-African initiative, the hub has evolved as a key outcome and implementable project of the Africa Youth in Tourism Innovation Summit and Challenge. This initiative, which commenced in Durban, South Africa, in 2019, has since been hosted in various African nations, including Rwanda, Ghana, and Namibia,” said Twum-Darko. He said the main goal of the ATIH is to further technological innovation among start-ups within Africa's travel and tourism sector, drive youth employability, and stimulate tourism entrepreneurship development.

Twum-Darko who established the BiiC in 2019, said he felt “honoured to have become one of the lead strategic partners and Director of ATIH to contribute to operationalise the hub’s operations as to tangibly mainstream its programmes. He will be presenting the master plan of the Hub to the 2024 Africa Youth in Tourism Innovation Summit and Challenge in Windhoek, Namibia from 29 May to 1 June 2024.

Written by CPUT News
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