INVESTING IN TECHNOLOGICAL INNOVATIONS IN SOUTH AFRICA: THE CASE STUDY OF SPII PROGRAMME

摘要

It is generally accepted that innovation strategies underpinned by enabling policies stimulate economic growth. The South African government has placed a premium on technology innovation, committing to increase its budget allocation to 1.5% of GDP over the next 5 years. The Support Programme for Industrial Innovation (SPII), an incentive by the government, promotes exploitation of technological innovation. In this paper, we examine case studies of industrial projects, issues reported by programme beneficiaries and contextualise local impact of SPII relative to European Community Innovation Statistics and European Innovation Scoreboard. Our analysis concludes that while policy and legislative frameworks are set, and SPII is a successful initiative (generating R4.8b revenue encompassing 12 years), there exists room for improvement. Challenges are identified, that if addressed, could elevate the programme into another tier of economic success. Instrumental among these are penetration to a marginalized society, access to private equity sector funding and successful commercialization.