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Tech innovation to drive Cape Town's growth

Cape Town - A collaborative, synergistic approach by both business and government with a focus on technology and innovation is key to Cape Town's economic future, according to Chris Whelan, CEO of think tank Accelerate Cape Town.

“We’re calling for robust engagement around the role of business, the importance of possibility-thinking and the necessity of innovation and creativity in helping to address the collective national challenge of eradicating poverty across the country,” said Whelan at the organisation's annual general meeting (AGM).

To achieve this vision, he introduced a number of pipeline projects that could jumpstart Cape Town’s economy and address the youth unemployment crisis engulfing the country.

One of these is the possibility of connecting Saldanha – Africa’s deepest natural harbour – with Cape Town via rail, road and high-speed broadband, thereby creating a dynamic business network hinged around the gas energy supplies off Africa’s west coast.

The ocean-based economy brings a considerable injection into the national coffers - about R200m every time a single rig arrives at a South African port to be refurbished.

As guest speaker at the AGM, Minister for Science and Technology Derek Hanekom endorsed Whelan’s innovation focus.

He spoke out strongly in favour of a collaborative approach between government and business.

“The common thread between such collaboration must be the shared goal of making the country a better place for all its citizens as outlined in the National Development Plan,” he said.

“To enable an environment that meets the needs of business to innovate, it is necessary to dream big and develop appropriate technology for addressing the country’s challenges.”

Hanekom mentioned a future plan to invest about 1.5% of gross domestic product in research and development by 2022. Currently, that national investment figure sits below 1%.

One such funded project is investigating enhancing SA's rich titanium reserves by a process of "additive manufacturing" – 3D printing.

This holds tremendous potential in a range of areas including aerospace, housing and biomedical engineering.

Hanekom also announced the government’s intentions to proceed with exploring the mining of shale gas in the Karoo region.

While being cognisant of engaging with all stakeholders, Hanekom made the point that shale gas could be a “game changer”, and therefore all avenues need to be explored in efforts to achieve energy security, he said.

- Fin24

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