Innovation Fund finally set for unveiling

Pauline Dikuelo | Friday June 24, 2016 15:30

The fund, which has been on the cards for some time now, is expected to help innovators in Botswana achieve their dreams of participating on the same level as their international peers. Local innovators have bemoaned the insufficient seed and early stage funding for technology entrepreneurship development, which the fund is expected to address. Speaking in an interview with BusinessWeek, permanent secretary (PS) in the Ministry of Infrastructure Science and Technology, Dikagiso Mokotedi said government is working around the clock to launch the fund.

“The fund is expected to provide access to seed finance for qualifying local technology-oriented businesses to assist in their technology commercialisation and innovation support,” said Mokotedi. According to the PS, Botswana Innovation Hub (BIH) would administer the fund, which will unearth a lot of talent that locals have.

ICT has been regarded as a powerful tool for development across all sectors in the country and has been adopted as enablers for the development of a robust innovation ecosystem.

BIH also views it as an enabler for development therefore making it one of their key focus sectors to develop. They have also engaged Citizen Owned Botswana It (BOBIT) in the promotion of the ICT sector.

Government also through its initiatives has invested heavily in an enabling infrastructure such as fibre connectivity to continue to reduce barrier to entry for citizen ICT companies thereby promoting their ability to grow the sector.

BIH, which became fully operational about four years ago, was established to promote technology, entrepreneurship and commercialisation on a purpose-built Science and Technology Park.  It intends to foster commercialisation of innovations and technology transfer, attract innovative companies and institutions.