The Department of Science and Technology has been allocated an additional R350 million in a bid to stimulate the economy and create jobs.
As part of an economic competitiveness and support package, the department will receive R60 million to support local and technology-intensive manufacturers, and a R110 million internship programme aims to support placement of post-graduate students at small companies.
Another R180 million has been set aside for research to commercialise new technology in satellite development, titanium, nanotechnology, renewable energy and waste.
The funding forms part of an economic competitiveness package that aims to stimulate more rapid economic recovery and job creation. The six-year plan will receive a total of R9.5 billion across government over the first three years.
According to National Treasury's Estimates of National Expenditure, R535 million was spent on research, development and infrastructure between 2008/9 and the latest financial year. Some R1.4 billion has been allocated over the medium-term.
The budget for research infrastructure will be used to provide state of the art research equipment and infrastructure to the scientific community "to ensure global competitiveness in research, development and innovation", says the estimates document.
The DST's expenditure increased from R3.7 billion in the 2008/9 financial year to R4.4 billion in 2011/12, at an average annual rate of 6%.
Finance minister Pravin Gordhan said in his budget speech, presented in Parliament this afternoon, that total spending on science and technology increases over the medium-term expenditure framework period to R12.1 billion in the 2014/15 year.
The DST will receive a total of R10.8 billion in the new financial year, rising to R11.3 billion in 2013/14. In total, over the next three years, it has been allocated R34.2 billion.
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