Annual seed funding of R7million created for R&D projects

The Third India, Brazil and South Africa (IBSA) meeting of Minister of Science and Technology was held in Angra do Reis, Brazil earlier this week. The s&t ministers from the respective countries signed an agreement to create a seed fund of R7 million annually in each country to support research and development projects that have potential for industrial applications and are of mutual interest.

Minister Kapil Sibal from India, Minister Dr Sergio Rezende from Brazil and Minister Mosibudi Mangena from South Africa agreed to create an IBSA intellectual property platform capable of enhancing the competitive advantage of the three countries. The platform will also aim to convert the intellectual property into design and development of specialised products.

The Ministers also reaffirmed their commitment to ensure that science and technology is included in the broader IBSA agenda. In this regard they agreed that the Minister of S&T of Brazil will represent the group at the IBSA Summit on the 11-13 September in Brazil.

The mechanism and the implementation of this agreement will be finalised within the next six months.

Issued by the Department of Science and Technology.

For media enquiries, please contact:

Nhlanhla Nyide, Chief Director: Science Communication, Department of Science and Technology, cell: 082 871 6767, or email: nhlanhla.nyide@dst.gov.za

SA Science and Technology Ministry:

Nelvis Qekema, Ministerial Liaison, cell: 082 571 2571, or email: nelvis.qekema@dst.gov.za