South Africa's academic tech transfer sector will be supported by a $10.2m vehicle backed by the $96m SA SME Fund.
South Africa is set to form a R150m ($10.2m) university venture fund in August to support spinouts from the country’s tertiary academic institutions, Engineering News has reported.
The vehicle will be established by the $96m SA SME Fund, a public-private fund-of-funds partnership targeting VC, growth and impact investors, with the aim of nurturing 200 small businesses to generate 20 world-class companies.
Stellenbosch University and University of Cape Town are also thought to be weighing contributions to the fund, as is government-owned development finance institution Industrial Development Corporation.
The fund’s target segments include engineering, IT, biotechnology, space tech and medical devices, and there will be a dedicated $1.7m seed capital component to help nascent university concepts build up commercial viability.
Launched in March 2019, SA SME Fund has so far committed about $49.5m from its initial vehicle, with around half of the sum invested in tech-focused venture…
