TIA Mandate to provide funding(extracted from draft Investment Framework Policy) The TIA Act establishes the TIA with the objective of: “… stimulating and intensifying technological innovation in order to improve economic growth and the quality of life of all South Africans by developing and exploiting technological innovations.” In giving effect to this objective the TIA recognises that it must straddle the gap between scientific research on the one end, where scientific or technological ideas originate, and established business on the other end. The TIA will achi...Read more >>

Funding Philosophy and Assessment Criteria

TIA will seek out and catalyse opportunities for investment funding where they exists: Creative new technology based ideas for either new or improved products, processes or services; or Existing technology based ideas for new or improved products, processes or services that can be further improved, developed and exploited by South Africans, whether directly or in collaboration with foreigners where a win-win partnership can be forged; or Development of infrastructure and capacity that will reduce the barriers to technological innovation in South Africa; and The stage of development of the i...Read more >>

Investment Audit and Compliance (Investment Audit)

The Technology Innovation Agency (TIA) is bound by the Public Finance Management Act as well as Treasury Regulations to ensure that public funds are managed economically, efficiently and effectively. It is therefore TIA’s policy to perform an Investment Audit on:all investments that have been inherited from the previous entities that were integrated into the TIA with effect from 1 April 2010; andAll funding provided by TIA to investments and projects since the inception of the TIA.Investment Audit is a Business Unit that is positioned within the TIA Finance Business Unit, to serve as a supp...Read more >>

Summary of activities and objectives

Our activities include the application of specific risk based audit procedures, with an objective of determining if funds disbursed by TIA (or any of the previous entities) have been used economically, efficiently, effectively and solely for the purpose agreed to between the TIA (or the previous entities that were inherited by the TIA). Our procedures include (but are not limited to) the following: Review the internal control environment and systems of internal control; Verify and evaluate the use of the public funds by the investment (this includes, but may not be limite...Read more >>