Greenlight for Innovation Technology Agency

The National Assembly approved the Technology Innovation Agency ( TIA ) Bill on Wednesday 5 March 2008 and the President will now sign the Bill into an Act of Parliament. The TIA is a new Government initiative seeking to fill the innovation chasm and bridge the gap between basic research output and commercial implementation, technology transfer and proliferation, by focussing on innovation financing. The chasm exists as the zone represents high risk and uncertain return.

Parliament issued a directive that the TIA be up and running within six months, so there will be considerable development in this area as the Board and CEO are appointed. It is hoped that the TIA will bring a number of Government funding instruments, such as the Innovation Fund, Biotechnology Regional Innovation Centres ( BRICs ) as well as Centres of Competence, under one roof where it is hoped that entrepreneurs will be able to be steered effectively, cohesively and seamlessly through the appropriate types of funding as they progress through the innovation space.

Although it is known that the TIA will commence operation with the funding already allocated by Government to its building blocks, that are being pulled together, it is hoped that after Treasury approval, additional funding will also be available to support innovation.

The TIA will also importantly house the National Intellectual Property Management Office ( NIPMO ) which will provide intellectual property support for the protection of intellectual property and capacity building at university Technology Transfer Offices, such as UCT Research Contracts and Intellectual Property Services ( RCIPS ).

After getting the approval from cabinet for the TIA process to commence on 25 July 2007, following wide engagement with the public, the Draft Bill was published for comment on 2 December 2007, followed by a series of public hearings on 28/29 January 2008. RCIPS coordinated comment from UCT on the Bill and is current participating in workshops reviewing the draft Intellectual Property Rights from Publically Funded Research Bill. This Bill is closely linked into the operations of the TIA and NIPMO.