The CSIR, the state-owned science and industrial research agency, has launched a new enterprise called CSIR C3 – pronounced CSIR C-Cubed – to commercialise its employees’ technology innovations.
CSIR C3 will drive all aspects of technology commercialisation, including securing access to financial resources.
The standalone enterprise will hold all CSIR IP and act as an incubator for start-up enterprises, underpinned by technical and other non-financial support.
It will allow for the commercialisation of CSIR IP through a network of investors and entrepreneurs with the aim of re-industrialising South Africa. It will do this, it said, by establishing new technology-based enterprises and collaborating closely with investors, entrepreneurs and innovators.
CSIR board chairman Vuyani Jarana – he previously led Vodacom Business and South African Airways – said the CSIR had developed many technologies and products that are ready to be “de-risked”, scaled up and taken to market.
The CSIR has raised R100-million as an initial investment into the project. During the launch, several of the research agency’s top technologies were showcased to potential investors. They included formulations for biodegradable plastic; a biomanufacturing process for lactic acid from sugar by-products; “green” cement technologies; a kit for the early detection of kidney injury; a smartphone-based diagnostic tool to detect diseases; a gunshot-detection camera; and a tool that forecasts the motion of moored ships in a port.
Faster pace
CSIR CEO Thulani Dlamini said the new company will monetise the organisation’s IP at a greater and faster pace than in the past.
Read: CSIR receives R88-million in funding from Gates Foundation
“The decision to establish a standalone, special purpose technology commercialisation company was driven by the necessity to work with industry and to accelerate the commercialisation of the IP the organisation generates. Through this initiative, we will collaborate with various partners to create innovation-based companies and support the reindustrialisation of our economy,” he said. – © 2023 NewsCentral Media