BUSINESS MAVERICK: State fund sows the seeds of biotech investment

The founder of Apple, Steve Jobs, made a prescient comment when he said, “The biggest innovations of the 21At that point, in 2011, the

Despite South Africa’s treasure trove of fauna and flora, supported by largely untapped indigenous knowledge, and a good science base, the country has been slow to capitalise on the opportunity that biotech presents. For many reasons. to support life science entrepreneurs and innovators in their efforts to commercialise and scale biotech startups.early-stage startup companies. It will help to develop the country’s emerging biotech ecosystem and place South Africa at the front of this new age where we will see engineered biology disrupt many of the globe’s traditional industries,” says Fichardt.

Savant, is that the SA SME Fund partnered with the government’s Technology Innovation Agency to co-invest R350-million across the three venture capital funds.

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