Government is planning to create a public funding agency to bridge the innovation gap between the local knowledge base and the productive economy.

The Technology Innovation Agency Bill, published in the Government Gazette in August 2007, intends to establish an agency under the auspices of the Department of Science and Technology (DST) to support government in stimulating and intensifying technological innovation, enhancing the country’s capacity for local innovation and invention.

The Bill is open for public comment by stakeholders and all interested parties.

Public hearings will be conducted in Parliament on 15 and 16 January 2008.

The creation of the Technology Innovation Agency (TIA) is part of the DST's Ten-Year Innovation Plan, and will allow the DST to fulfill its mandate with regard to technology more effectively.

The key objectives of the new agency are, among other things, to ‑

• stimulate the development of technology-based products and services;
• stimulate the development of technology-based enterprises – both public and private;
• develop a significant technology base for the South African economy;
• facilitate the development of human capital for innovation; and
• provide the primary bridge between the formal knowledge base and the real economy.

The TIA will not engage in fundamental scientific research, but will be concerned with identifying and evaluating available and new technologies, and with providing shared research and development, as well as technical business and commercialisation services for existing and emerging industries.

It is envisaged that the Agency will have the latitude to raise further revenue for reinvestment in the system through the establishment of subsidiary companies and equity shareholding.

The TIA will build on existing capacity, incorporating institutions and initiatives (such as the Biotechnology Regional Innovation Centres, the Innovation Fund, the Advanced Manufacturing Technology Strategy, Advanced Minerals Initiative and the South African Inventions Development Corporation (SAIDCOR) currently housed by the Council for Scientific and Industrial Research), extracting synergies from existing relationships and infrastructure to improve service delivery 

Issued by the Department of Science and Technology

For media enquiries, contact:

Celeste Tema

Deputy Director: Communication and Media Liaison

Department of Science and Technology

Tel.: 012 843 6784/083 399 0765

Email: celeste.tema@dst.gov.za

or

Kristin Klose

Director: Communication and Media Liaison

Department of Science and Technology

Tel.: 082 902 9503

Email: kristin.klose@dst.gov.za