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Working with Government to promote Science and Technology

The Innovation Fund is an initiative of South Africa's Department of Science and Technology and is managed by the National Research Foundation. It receives funding from the Department of Science and Technology.

As an instrument of the Department of Science and Technology, the Innovation Fund is mandated to promote technological innovation through investing in late-stage research and development of novel and inventive South African science and technology ideas. The team at the Innovation Fund is also present to follow through the setting up of a business, supporting it from the commercialisation of such technology until it is established in the market place.

Innovation Support for Nearly a Decade

In the nine years that the Innovation Fund has been in existence, it has invested over R1 billion in research and development projects that have potential social and economic benefit and that promote the economic competitiveness of South Africa. These projects vary across the science and technology spectrum, ranging from biotechnology to aeronautics.

A Working Partnership

Setting up a business is not easy and requires assistance from all sides. The South African government also recognises how important science and technology is to the future business growth of the country. The government funds and relies on the team at the Innovation Fund to facilitate this growth in business. This unique partnership essentially provides South African's with innovation support and shows what can be achieved when two institutions work together.

Annually the Innovation Fund holds a function presided over by the current Minister of Science and Technology to report on all the work and achievements of the organisation for the preceding financial year. This yearly showcase allows for the celebration of a successful partnership that promises to extend far into the future.

Find out more about the Innovation Fund and its important work in science and technology in South Africa.