A key stage in the establishment of the Technology Innovation Agency (TIA) is under way, with the call for board nominations by the Department of Science and Technology (DST).
The TIA Bill was recently passed by Parliament and signed into law by president Kgalema Motlanthe. The legislation forms part of the DST's 10-year innovation plan and its key role is to provide venture capital to fund research through the establishment of an innovation agency.
It also allows for the creation of an agency board, which will be responsible for the management and control of the agency. The board members would also have to draw up an Investment Framework Policy, which would be reviewed annually.
The minister of science and technology will begin the process by appointing a panel, which will then compile a shortlist of candidates from nominations received. Nominations will close on 12 January. All board members would serve a four-year term on the agency.
The minister, in consultation with the National Assembly, will then appoint members of the board based on their knowledge and experience in the areas of technological innovation, technology management, intellectual property and business skills. Between seven and nine candidates will be elected to sit on the agency board.
Once nominations have been received and the board selected, the agency will then begin the task of establishing important terms of reference for itself and consolidating existing state research and funding structures into it to help it achieve its mandate.
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