Socio-economic inclusion for West Coast youth

An innovative business accelerator that seeks to thrust youth living in Atlantis, in the Western Cape, into economic inclusion, was opened last week.

Symbiosis Innovation and Accelerator Centre (Symbiosis), the re-purposed former South African Manufacturing Technology Demonstration Centre (SMTDC), opened its doors with the immediate creation of almost 360 immediate jobs for young people in the area.

Differentiating itself from traditional accelerators, Symbiosis uses a hybrid-innovation model at the core of its business, under the principle of Innovating Inclusive Impact (I3). Symbiosis looks to develop specific business functions and expertise in certain areas, such as a particular technology, an industry vertical (such as manufacturing, agriculture, low carbon economy) as well as leverage its existing capabilities and assets and making it accessible to various stakeholder groups. This ensures that the Symbiosis portfolio has access to unique capabilities, not just the capital and guidance that conventional incubators offer.