30 June, 2008

Endowment fund for research and innovation

A report in the Nation reveals that the government will in the next financial year establish a Ksh 250 million endowment fund to support research and innovation. The disclosure is attributed to the Permanent Secretary in the Ministry of Higher Education Science and Technology Prof Crispus Kiamba who was opening a regional scientific workshop organized by the Kenya National Academy of Sciences. Prof Kiamba is also reported to have disclosed that a Science, Technology and Innovation policy paper will be presented to the cabinet for deliberation.

It is not clear whether this fund is the same or is a supplement to the fund outlined by the Minister for Finance during the budget speech (see earlier post here) to promote science, technology and innovation.

However it may appear that the two funds are separate components since the budget speech proposal was for Ksh. 300 million and in the current financial year whereas the latest proposal will be implemented from the next financial year.

IP Kenya can only (re)reiterate what the Minister for Finance said during the budget speech that science, technology and innovation will play an important role in driving the country’s growth through promotion of efficiency, productivity and competitiveness.

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