Kenyan small and medium-sized enterprises (SMEs) in the manufacturing are set to benefit from a digital transformation offered by the Korea Technopark Association (KTPA) and the International Trade Centre (ITC).
This is after the two have signed a Letter of Intent to promote the digital transformation for manufacturing SMEs in developing countries, starting with Kenya.
“We are delighted to sign this partnership agreement with ITC. KTPA will contribute its knowledge and expertise in creating innovative ecosystems where manufacturing SMEs can flourish in developing countries, and by sharing Korean best practices, KTPA will contribute to the objective of the Government of Korea to help developing countries reach the Sustainable Development Goals,” said Korea Technopark Association,Chairman, Youngjib Kim.
The institutions will work closely to develop joint initiatives that favour small business skills, technology transfer and foster innovation.
The partnership is a response to the need of adapting businesses’ production operations in the context of the fourth industrial revolution.
“With this partnership, ITC strengthens its relationship with the Government of the Republic of Korea. ITC and KTPA will build on the strengths of each institution to support small businesses in developing countries on their digitalization journeys and in creating more resilient and robust economies,” said International Trade Centre, Executive Director, Pamela Coke-Hamilton.
By sharing Korean experiences and best practices, ‘the Korea Technopark Operational Model’, or K-TP Model in short, will serve as an innovative ecosystem that will promote partnerships between government, industry, Research and Development institutions, and academia.
Among the joint initiatives under the Letter of Intent is the implementation of Technoparks in developing countries, strengthening the innovation and technology ecosystems in developing countries, and creating linkages between Korean institutions and businesses in developing countries.
As its first initiative, ITC and KTPA, supported by the Ministry of SMEs and Startups of Republic of Korea, commit to support the digital transformation of Kenyan manufacturing SMEs and energizing Kenya’s industrial innovation ecosystem.