By: Van
Soul Addey
South Africa must close the
funding gap that prevents promising scientific research from being converted
into commercially viable products and services, Department of Science,
Technology and Innovation Director-General Mlungisi Cele has said.
Speaking on the sidelines of
the 19th Pujiang Innovation Forum in Shanghai, China, Dr Cele said South
African researchers were producing potentially valuable technologies, but many
projects struggled to move beyond the laboratory and into the economy.
He described the difficult
transition from research and development to commercialisation as the “valley of
death”, saying it required a significant increase in funding to help promising
projects progress through the stages needed to reach the market.
“The challenge in South
Africa is that many projects are unable to progress. Some may reach the early
stages of financing, but they cannot secure the funding required to move
further,” Cele said.
According to the
Director-General, the funding shortfall remains a major barrier to transforming
scientific research into products and services that can contribute to economic
development.
Cele said addressing the gap
would require what he described as a “massive injection of funding” to enable
research projects with commercial potential to move beyond early-stage
development and attract the resources needed for further growth.
The comments were made
during South Africa’s participation in discussions at the Pujiang Innovation
Forum, as the country continues to consider ways of strengthening the
connection between scientific research, innovation and economic activity.
