http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.38Change: 0.05
R/$ = 11.57Change: -0.03
Au 1276.24 $/ozChange: -2.53
Pt 1262.50 $/ozChange: -7.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Sep 28, 2012

Programme to increase SA’s competitiveness

Back
Africa|Industrial|PROJECT|Africa|Brazil|China|India|Russia|South Africa|Product|Products|Ntokozo Mthembu|Sub-Saharan Africa
Africa|Industrial|PROJECT|Africa||Products||
africa-company|industrial|project|africa|brazil|china|india|russia|south-africa|product|products|ntokozo-mthembu|subsaharan-africa
© Reuse this



South Africa has moved up four places to fiftieth position in the World Economic Forum (WEF) Global Competitiveness Report 2011-12, out of 142 countries surveyed.

South Africa remains the highest-ranked country in sub-Saharan Africa and is placed second among its fellow Brics economies, namely Brazil, Russia, India and China.

With regard to innovation, however, South Africa is ranked last among them, says Department of Trade and Industry Support Programme for Industrial Innovation (SPII) senior specialist Dr Ntokozo Mthembu.

Further, according to the WEF report, South Africa was placed 111th in terms of the availability of scientists and 105th with regard to technological readiness.
South Africa ranks poorly on the global scale of innovation and, while there is some innovation under way, there is significant opportunity for growth in this sector, says Mthembu, citing SPII as one of the pathways innovative South Africans can take to develop their ideas to further the development of new technologies in South Africa.

SPII provides financial assistance to new innovators in the form of grants and it guides them through the product-development process.

“SPII assists in bridging the gap between conceptualising a product and marketing it. To engage with the market, you first need to have a physical product to show retailers,” says Mthembu.

SPII considers four main criteria for prospective grant recipients. These comprise tech- nological innovation, which indicates the product is unlike anything else on the market; economic merit, which requires the applicant to have a realistic plan in mind to prove that the product has the potential to sell well; management capability, which indicates that the incumbent has the relevant skills to develop the product; and financial ability, which is evident in the incumbent having already saved money to contribute to the development of the product, over and above the funding that he or she hopes to receive from the programme.

This not only gauges the applicant’s level of commitment, but also ensures that the project gets under way, as SPII only subsidises between 50% and 85% of the product’s total development cost.

SPII funding is available to all South African enterprises, including registered companies and individuals representing themselves.

However, Mthembu emphasises that individuals will be considered only if their products show definite potential.

“We want to be sure it is a significant technological advancement and that the product is something we can be proud of,” he says.

Edited by: Chanel de Bruyn
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Economy News
Jeffrey Immelt
Troubled South African State power utility Eskom should place emphasis on stability ahead of improvement, GE chairperson and CEO Jeffrey Immelt suggested on Monday. Speaking at the Gordon Institute of Business Science (GIBS) in Johannesburg, the head of the...
Tenders are being prepared for two major oil-services infrastructure projects, collectively valued at around R10-billion, for the deep-water Port of Saldanha, on South Africa’s west coast. The developments are being packaged as build, own, operate and transfer...
Assets under management of exchange traded funds (ETFs) will double to at least $5-trillion by 2020, consultant PwC said on Monday, as investors increase exposure to such products given their lower costs than traditional mutual funds. "Institutional investors are...
More
 
 
Latest News
Temporary power generation services provider Aggreko has extended the contract for its 200 MW gas-fired power project in Côte d'Ivoire by three years, with the option to extend this by a further two years.
Jeffrey Immelt
Troubled South African State power utility Eskom should place emphasis on stability ahead of improvement, GE chairperson and CEO Jeffrey Immelt suggested on Monday. Speaking at the Gordon Institute of Business Science (GIBS) in Johannesburg, the head of the...
A Competition Tribunal hearing into alleged cartel activity and price-fixing by several companies in the wire and wire products manufacturing industry was again postponed on Monday pending a decision by the Competition Appeal Court (CAC). Respondents Allens Meshco,...
More
 
 
Recent Research Reports
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
 
 
 
 
 
This Week's Magazine
BRUCE BRADFORD The 3D printers have a clear upgrade path to eventually print in wood, ceramics and metal-alloys
Three-dimensional (3D) printers being sold in South Africa by electronics distributor Rectron currently print in two types of plastic, but have a clear upgrade path over the next five years to eventually print in wood, ceramics and metal-alloy materials, says Rectron...
The world’s two dominant commercial aircraft manufacturers, Airbus of Europe and Boeing of the US, both recently announced that they had made record aircraft deliveries in 2014. Boeing set a global record for the industry with 723 commercial aircraft delivered, while...
The Western Cape is shifting further into the renewable-energy space with the official opening of a factory specialising in solar inverters, a key component of solar photovoltaic (PV) plants. The investment in the manufacturing facility in Cape Town aims to boost the...
Business Leadership South Africa (BLSA) last month welcomed Cabinet’s establishment of a technical team war room to undertake various interventions to improve electricity supply security over the short- and medium-term, but added that the private sector also had a...
Despite a rapid rise in mobile connections and the economic and social benefits of such connectivity, more than half of the world ended 2014 unconnected. For this reason, industry commentators believe the biggest impact of mobile technology is still to come –...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks