CDH Bank supports Luanar with K16.9m towards to establish Technology Transfer Office
The CDH Investment Bank (CDHIB) has contributed K16.9millon towards the 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 (MOU) the bank and university signed earmarked to support agri-innovation challenge for three years from 2023-2025.
Speaking during the official opening of the training workshop and establishment of the Technology Transfer Office held in Dowa on Thursday, CDH Investment Bank Account Relationship Manager responsible for Corporate and Public Sector,Jennie Madinga said they were proud to be part of LUANAR’s history by supporting the workshop and organization of the 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.
Madinga believed that the innovations will assist to address societal agriculture related challenges and support exceptional innovations that will help the nation to growth.
In his remarks, LUANAR Director of Research and Outreach, Dr Samson Katengeza, commended the 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 the Bank which will support the commercialization of identified innovations,” he said.
Katengeza said 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.
Director of Technology Transfer at the National Commission for Science and Technology (NCST), Isaac Chingota hailed LUANAR for the establishment of TTO.
“This is necessary and will ensure that innovations identified are compliant with the NCST acceptable standards,” he said.
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.
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