Act No. 26, 2008
TECHNOLOGY INNOVATION AGENCY ACT. 2008
" M i n i s t e r " m e a n s the Minister responsible for Science and T e c h n o l o g y ;
" p r e s c r i b e d " m e a n s prescribed by regulations m a d e in terms of section 16;
"technological i n n o v a t i o n " m e a n s the application in practice of creative new
ideas, which includes inventions, discoveries and the p r o c e s s e s by which new
products and services enter the market and the creation of new businesses;
"this A c t " includes the regulations.
E s t a b l i s h m e n t of A g e n c y
2. (1) There is hereby established a juristic
Innovation A g e n c y which is capable of suing and
performing, subject to this Act, such acts as are
carrying out of its objects.
(2) T h e Public Finance M a n a g e m e n t Act, 1999
Agency.
person k n o w n as the T e c h n o l o g y
being sued in its own n a m e and of
necessary for or incidental to the
(Act N o . 1 of 1999), applies to the
O b j e c t of A g e n c y
3. T h e object of the A g e n c y is to support the Stale in stimulating and intensifying
technological innovation in order to i m p r o v e e c o n o m i c growth and the quality of life of
all South Africans by developing and exploiting technological innovations.
P o w e r s a n d duties of A g e n c y
4. (1) The A g e n c y m a y —
(a) on such conditions as the Board m a y d e t e r m i n e —
(i) provide financial and any other assistance to any person, for the p u r p o s e
of enabling that person to d e v e l o p any technological innovation:
(ii) establish a c o m p a n y c o n t e m p l a t e d in the C o m p a n i e s Act, 1973 (Act N o .
61 of 1973). or in collaboration with any p e r s o n , establish such a
c o m p a n y for the purpose of d e v e l o p i n g o r exploiting any technological
innovation:
(iii) acquire any interest in any person u n d e r t a k i n g the d e v e l o p m e n t or
exploitation of any technological innovation supported by the A g e n c y ;
(iv) d r a w together and integrate the m a n a g e m e n t of different technological
innovations, incubation and diffusion initiatives in South Africa;
(v) d e v e l o p the national capacity and infrastructure to protect and exploit
intellectual properly derived from research financed by the A g e n c y : and
(vi) acquire rights in or to any technological innovation supported by the
A g e n c y from any person, or assign any person any right in or to such
technological innovation:
(b) apply for patents or the revocation thereof and institute any legal action in
respect of any infringement of intellectual property rights;
(c) p u r c h a s e or hire land or buildings or erect buildings and alienate such land or
terminate or assign any such hire and. in the case of buildings in w h i c h the
business of the Agency is being c o n d u c t e d , let such portions as are for the lime
being not required for the business of the A g e n c y ;
(d) establish such offices, including regional offices, as the Board in consultation
with the Minister may d e t e r m i n e :