28 Jul 2019

Assistant Minister of Tertiary Education, Research, Science and Technology, Mr Moiseraele Goya says Botswana Innovation Fund was launched in February  2018. 

Mr Goya said subsequent to its launch the first call was made the same year where a total of 57 applications were received and only seven approved for funding in October 2018 at a cost of P5.6 million. Furthermore, Mr Goya said in December of the same year another call was made and 234 applications were received and they were currently being assessed.

He said the assessment was expected to be concluded by September 2019.

Regarding applicatios that were not successful, he said such proposals were not successful because they were outside the confines of the call guidelines.

He said two calls required proposals seeking to develop prototypes whilst the majority of applications received were either at basic research stage or beyond prototype stage seeking working capital for growth.

However, Mr Goya indicated that the fund had not yet attracted equity from financial institutions.

Francistown East MP, Mr Buti Billy had asked whether Botswana Innovation Fund had received any applications for funding since inception.

He also wanted to know the number of applications approved. Mr Billy further asked if the fund had been able to attract equity from financial institutions and why there were many unsuccessful applications. Ends