CDH Investment Bank contributed K16.9millon towards the 2024 establishment of Technology Transfer Office (TTO) by Lilongwe University of Agriculture and Natural Resources (LUANAR).
The support is the second activity this year, under the memorandum of understanding the bank and university signed that is earmarked to support agri-innovation challenge for three years from 2023-2025.
During the official opening of the training workshop and establishment of the Technology Transfer Office which took place at Manach Motel, CDH Investment Bank Account Relationship Manager responsible for Corporate and Public Sector, Mrs Jennie Madinga said they were proud to be part of LUANAR’s history by supporting the workshop and organization of the Technology Transfer Office.
“We are committed to supporting innovation which is instrumental to adapting and thriving in all aspects of business or life,” she said, adding that an investment in innovation will develop the nation as the initiatives contribute positively to the overall growth.
“These innovations will assist to address societal agriculture related challenges and support exceptional innovations that will help the nation to grow” she said.
Speaking at the training, Mr Isaac Chingota, Director of Technology Transfer at the National Commission for Science and Technology (NCST) applauded LUANAR for the workshop citing that he establishment of a TTO is necessary and will ensure that innovations identified are compliant with NCST acceptable standards.
LUANAR Director of Research and Outreach Dr Samson Katengeza thanked CDH Investment Bank for the support, saying it will go a long way in setting up the offices, “we are grateful for the financial support we have received from CDH Investment Bank which will support the commercialization of identified innovations,” he said.
He shared the background of the program citing that the innovations are identified from the Vice Chancellors awards that recognize different people who have done well in different categories of innovations, published international recognized journals, submitted excellent essays, research, and individuals who have done well in their departments among others.
CDHIB partnered with LUANAR through a memorandum of understanding (MoU) worth USD57, 901.62 for three strategic initiatives to be undertaken yearly for the period of three years from 2023 to 2025. The Bank supports the execution of tree-planting initiative, agri-innovation challenge and provision of scholarships to at least 5 innovative, talented and unique students per year under the LUANAR innovation scholarship program.
The first activity under the MoU in 2024 was exceuted in March 2024 through tree planting exercise in which CDHIB provided K5.7 million which the university channelled to the Forestry Department aimed at fighting climate change. The establishment of the TTO is an initiative under the innovation challenge strategic initiative.
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