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South Africa’s Bio Plan: Taking bright ideas to market

In another move showing its commitment to developing science and technology industry in the country the South Africa Bio Plan, kicks off this month. Driven by the Innovation Fund on behalf of the the Department of Science and Technology, the SA Bio Plan is both a training tool and a business plan competition geared at the country’s bio entrepreneurs.

Biotechnology has been identified as one of the sectors in which South Africa can build its economy and be a leading global participant.

Developed by the Innovation Fund in partnership with Emory University of Atlanta, Georgia USA to impart entrepreneurial knowledge and formation advice to would-be entrepreneurs in the Biotechnology industry, the Plan’s ultimate objective is to promote the creation of new, venture capital friendly, Biotechnological companies in South Africa in line with the country’s National Biotechnology Strategy.

The two stage process kicks off with a series of three workshops to mentor applicants followed by the submission of a business plan towards the end of the month.

Comments Mr McLean Sibanda, Acting Executive Officer of the Innovation Fund, “In short, the plan will contribute to the growth of South Africa’s biotechnology industry by unveiling good business ideas via the business plan competition and mentoring business plan competition participants by South African and international mentors.”

And, the SA Bio Plan has already begun to bear fruit.

The Innovation Fund and Emory University with participation from South Africa’s Biotechnology Regional Innovation Centres commenced with a pilot programme which ran from April to December last year. The winner of the first SA Bio Plan Business Plan Competition walked off with the first prize of R100 000 and a possibility of receiving an investment of R15 million.

GreenPharm’s winning business plan proposed a technology that will use transgenic plants to generate commercially important rabies vaccines and other competitively priced, complex therapeutic proteins such as HIV antibodies.

Sibanda says that the SA Bio Plan’s immediate goals focus on education and are:
• For participants in the program to receive world class education in the development of a Biotechnology business from the ground up;
• To create new South African based life science companies;
• For applicants to attain knowledge in Venture Capital businesses, Business Plan writing,
Intellectual Property management, leveraging intellectual property as a successful commercial tool and real right and Bio Entrepreneurship;
• To educate applicants on how to become a successful Entrepreneurs, including insight into the best ways to access funding and how to run technology start-up companies;
• Building business skills and social networks.

“The Innovation Towards a Knowledge-Based Economy Ten-Year Plan for South Africa (2008 – 2018) developed and adopted by the Department of Science and Technology recognises the movement from Farmer to Pharma as one of the grand challenges facing South Africa and one requiring our collective thought and action. The aim is to move South Africa from a country with abundant and diverse natural plant material to being a leader in biotechnology and pharmaceuticals,” concludes Sibanda.

More information:

To apply: SA Bio Plan Competition

GreenPharm's winning technology

Innovation Fund
Mr Thabiso Nkone
Marketing and Communications Manager
Tel: +27 (0)12 481 4003
Cell: +27 (0)83 49 42 322
Email: thabiso.nkone@nrf.ac.za 

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