As global challenges grow more complex, the demand for innovative, inclusive technology has never been more urgent. The Greater South Fair for Endogenous Technologies (GreSFET), scheduled for 2nd-3rd December 2024, stands as a crucial platform for innovators from across the Greater South to present transformative solutions that address both local and global challenges. Organised by the Organisation of Southern Cooperation (OSC) in collaboration with Ethiopia’s Ministry of Innovation and Technology (MINT), GreSFET aims to accelerate technological growth through homegrown innovations, fostering development across the region.

Transforming the Role of Technology in the Greater South

Historically, many countries in the Greater South have primarily been consumers of technology, despite the region’s vast potential for innovation. According to UNCTAD, a significant portion, over 80% of the world’s technology exports comes from a handful of regions (UNCTAD, 2022). GreSFET seeks to address this gap by providing a platform where innovators from the #GreaterSouth can scale their technological solutions and, crucially, transition from consumers to producers of technology.

At a diplomatic briefing earlier this year, the OSC emphasised the need for OSC Member States to progress from technology consumption to local solution development. This transition is vital for fostering sustainable development and enhancing economic resilience.

Why GreSFET is Critical for the Greater South

GreSFET is more than just a technology exhibition, it is a pivotal platform that allows local innovations to become solutions that create widespread impact. The event focuses on key sectors such as Fintech, Agriculture, HealthTech, and Clean Energy, which are all essential for both economic and social growth across the #GreaterSouth.

Key Statistics:

• Despite the global fintech market reaching $167.55 billion in 2023, only a small portion of investments are directed toward the #GreaterSouth, indicating a significant investment gap in emerging markets. (Mordor Intelligence, 2023).
• In Sub-Saharan Africa, over 65% of smallholder farmers remain disconnected from digital agricultural services, despite agriculture representing over 30% of GDP in many countries (World Bank, 2023).

These figures demonstrate the pressing need for homegrown technology that directly addresses local challenges. GreSFET provides the platform to showcase innovations that have the potential to improve access to financial services, healthcare, and clean energy.

Driving Local Innovation

 At GreSFET, locally developed technologies will take centre stage, addressing the specific needs of the Greater South. The event will create a space where entrepreneurs and startups can expand their solutions, engage with investors, and collaborate on technologies that benefit both their communities and the global economy.

Local innovations, such as advancements in mobile banking and renewable energy, have already demonstrated the transformative power of locally-driven technologies. These innovations have facilitated financial inclusion and energy solutions for millions, particularly in rural and underserved regions (GSMA, 2022; IEA, 2023). GreSFET aims to foster further advancements that are tailored to the region’s needs.

The Significance of GreSFET for OSC Member States

 For OSC Member States, GreSFET represents an invaluable opportunity to move towards self-reliance in the technology sector. The event allows each country to showcase breakthroughs that will not only benefit their immediate regions but also the wider #GreaterSouth.

As As Dr. Shumete Gizaw, Under-Secretary-General for Technological Innovation and Digitalisation Enhancement (TIDE) of the Organisation of Southern Cooperation (OSC), noted: “GreSFET highlights the immense creativity and potential within the Greater South. The solutions we seek are already being developed by innovators here, tailored to our unique challenges.”

GreSFET: A Platform for Sustainable Innovation

GreSFET will unite tech leaders, startups, and investors with a focus on providing sustainable, scalable solutions tailored to the needs of the #GreaterSouth. By fostering collaboration and promoting local talent, GreSFET enhances both innovation and the region’s ability to compete on the global stage.

With the application deadline fast approaching, now is the time for innovators and entrepreneurs to seize this opportunity to drive lasting change. Whether you are working in Fintech, HealthTech, Clean Energy, or Agriculture, GreSFET offers a platform that can help shape the future of the Greater South.

For further information and updates on GreSFET, please visit the official website: https://gresfet.osc.int/