Over 700 innovators, academics, government officials and potential investors gathered at Gallagher Convention Centre to assess the opportunities and challenges for innovation in South Africa. It was noted that innovation can't thrive in a vacuum and that supportive ecosystems are important for helping innovators take their concepts from bright idea to sustainable business.
Speaking at the summit, Science and Technology minister Naledi Pandor said: "We recently concluded an assessment of the first Innovation Bridge event we held, and it's very interesting to see how many of those companies have become viable entities. Around 28% of the ideas are being pursued and are continuing into a business, around 12% are shelved and about 5% have failed. The relationships formed in the Innovation Bridge space are leading to some success, which we are now able to identify and monitor."