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 achieve its vision through an emphasis on innovation at firm level in key strategic industry sectors to improve the competitiveness of regional economies. The TIA seeks to support technological ideas moving along the technology innovation value chain, reducing risk and increasing the likelihood that products and services will enter social and economic markets. Within this context, the TIA will provide funding, and other support, to persons developing and commercialising technologies, including fledgeling, small and medium sized enterprises, large private companies as well as public institutions such as science councils and higher education research institutions, as appropriate.