https://www.engineeringnews.co.za
Africa|Business|Financial|Technology
Africa|Business|Financial|Technology
africa|business|financial|technology

Nzimande announces help for technology innovators

Higher Education, Science and Technology Minister Blade Nzimande

Higher Education, Science and Technology Minister Blade Nzimande

9th July 2019

By: African News Agency

  

Font size: - +

Higher Education, Science and Technology Minister Blade Nzimande said on Tuesday his department has made progress towards setting up a fund that will ease the risk of bringing new technological innovations onto the market.

Nzimande told a media briefing in Cape Town the fund would receive R1-billion per year for five years, with the aim of making these new business ventures more attractive for investors.

"The fund is designed to largely de-risk the early stages of technology commercialisation and/or business development. An injection of R1-billion per year for five years is expected to make a significant impact in making these businesses more attractive to investors for significant scale-up," he said.

Nzimande said the past decade has seen a significant increase in applications for intellectual property rights licences and in the number of start-ups coming out of the country's higher education institutions.

He said his department planned to use its budget increase for the current financial year -- up to R8.15-billion from R7.79-billion -- to support new research and the development of new industries that could serve to beneficiate raw materials exported by South Africa.

Nzimande was addressing journalists on his department's budget vote.

Edited by African News Agency

Comments

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.07 0.121s - 163pq - 2rq
Subscribe Now