The fund aims to promote and stimulate the culture of innovation and entrepreneurship amongst young people by providing access to financial and business support resources. It will be offered to researchers from science councils and high education institutions, individuals, students, and school leavers.
"Our aim is to see South African innovations through from research stage to commercialisation. By aiming at young people, we are hoping to tap into cutting-edge innovations and technologies to find solutions to South African challenges, while boosting the economy," said Dr Margaret Mkhosi, GM: special projects of TIA.
The YTIF is an addition to the regular services that TIA offers and is targeted at young people between the ages of 18 to 30 who are not already funded through the normal TIA process. The application process is detailed on the TIA website (www.tia.org.za), where the registration form and proposal template can be obtained.
The fund will offer successful applicants services, such as the use of the SABS services for product certification; business coaching; use of TIA technology stations and platforms; incubation services at recognised TIA partner organisations for up to two years, and intellectual property protection.
"We are excited to introduce this fund as we believe that it is vital for the country to encourage a new crop of researchers, innovators and entrepreneurs. This will also bolster human capacity development in our quest to create a knowledge economy driven by innovation," concluded Dr Mkhosi.
