The TIA’s mandate is to stimulate and intensify innovation and inventions in order to improve the economic growth, as well as to enhance the quality of life of all South Africans.
According to the Department of Science and Technology (DST), this would be achieved by developing technological innovations, and creating an enabling environment where these innovations could be commercialized.
In a statement, the DST said: “The TIA will be managed and controlled based on the provisions of the TIA Act, which was signed into law by President Kgalema Motlanthe in December 2008. The DST has since established a Project Management Office in preparation for migration of the various entities to TIA,”
Existing entities that will be incorporated into the TIA are the Biotechnology Regional Innovation Centres (BRICs), the Innovation Fund, AMTS, and the Tshumisano Trust.