Innovation agency on the cards
15 January 2008
The South African government has unveiled plans to create a publicly funded agency to help stimulate technological innovation in the country.
The Technology Innovation Agency Bill, which calls for the creation of the agency, has been published for comment, with public hearings to be conducted in Parliament in Cape Town this week.
According to the Department of Science and Technology, the new agency will stimulate the development of technology-based products and services and technology-based public and private enterprises, and help to grow a technology base for South Africa's economy.
The agency will build on existing capacity in institutions and initiatives such as the Biotechnology Regional Innovation Centres, the Innovation Fund, the Advanced Manufacturing Technology Strategy implementation unit, the Council for Scientific and Industrial Research and the Advanced Minerals Initiative.
It will not engage in fundamental scientific research, but will identify and evaluate available and new technologies, and provide shared research and development, as well as technical business and commercialisation services, for existing and emerging industries.
The department envisages that the agency will in future have the latitude to raise revenue for reinvestment through the establishment of subsidiary companies and equity shareholding.
SAinfo reporter
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