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respectively, a senior official has said.
The Innovation Fund is a Government initiative that seeks to assist Zimbabwean inventors with funding as part of efforts to develop science and technology in the country.
Science and Technology Development permanent secretary Professor Francis Gudyanga said the delay in releasing the funds was preventing promotion of innovation and creativity among citizens, many of who did not have the financial resources to develop and commercialize their inventions.
“In 2011, we were allocated US$1 million towards the fund but received only US$500 000.
In 2012 we were allocated US$1,5 million but we did not receive anything while this year we were allocated US$250 000 and we are yet to receive the money,” he said.
Prof Gudyanga said failure to release the funds could have been a result of the competing commitments that the Government had to deal with this year.
“The just ended referendum and the upcoming elections require a lot of money and these could be some of the reasons why the Government has not released the money due to the Innovation Fund,” he said.
Some of projects that the Innovation Fund is assisting include production of low-cost geyser using selective absorbers, solar icemaker, which is being handled by the Harare Institute of Technology and plastic manufacturing.
Prof Gudyanga said despite the world-class invention ideas that young Zimbabweans might have, many lacked the financial resources and project management skills to commercialize their ideas.
He said the ministry was working to utilise the funds left over from the US$500 000 released in 2011 which was availed to 17 recipients. – New Ziana.
Online Reporter