The Technology Innovation Agency (TIA) an entity of the Department of Science, Technology, and Innovation (DSTI) launched an Industry Matching Fund (IMF) in 2019, as a fund-of-funds model to leverage innovation funding from industry and private sector. Since the launch of the IMF, the fund has attracted partnerships from Venture Capital, Angel Investors, Development Finance Institutions, and Corporates.
One of the recently launched instruments to bolster the IMF is the Innovation Fund meant to further enhance TIA’s commitment to the long-term sustainable funding of innovation across South Africa. The Innovation Fund, recognised by the President during the State of the Nation Address (SONA) in February, has enabled, amongst the direct investments since 2021, of a TIA commercialisable portfolio, a R300m High Impact Seed Fund of Funds launched at the end of 2024 in partnership with the SA SME Fund and E Squared Investments.
