South Africa's Department of Science and Technology (DST) has announced a R15-million partnership with Global Innovation Fund (GIF) for the next three years in support of innovations that tackle major health and social issues across Africa.

The agreement with the non-profit innovation fund was signed in July this year during the EuroScience Open Forum (ESOF) in Manchester according to the department.

Imraan Patel, Deputy Director-General: Socio-economic Innovation Partnership at the DST says South Africa is looking forward to implementing the partnership to support global efforts to secure sustainable development.

ʺThis partnership fits in snugly with the work that the Department is already engaged in around scaling and testing local innovations that lead to an improved quality of life for poor South Africans. I am certain that there is a lot we will learn from the GIF, and it, too, will learn from South Africa."

The Department will make available grants of up to R15 million for the duration of the MoU. Piloted and innovations that are being expanded to reach new markets are all eligible for support from the partnership.

More than 500 organisations in South Africa and across Africa have applied for access to risk capital to develop their innovation product from the GIF according to the organisation. The UK-based GIF invests in innovations that aim to improve the lives and opportunities of millions of people living on less than US$5 per day in the developing world.

Dr Alix Zwane, CEO of GIF says the decision to cooperate with the South African government represents an important step for the GIF as it focused more on innovations with the potential to impact the lives of millions of the world's poorest people.

ʺWorking with the DST, we will find, pilot, test and scale promising new African-led or African-focused approaches to dealing with major health and social issues on the continent. I hope that this new sub-fund will challenge South African entrepreneurs to think about new solutions to benefit the poorest people in society."

The DST and GIF plan to co-invest in GIF-selected innovations that are in line with key strategic priorities for South Africa under the MoU.

GIF also revealed that about 359 of the 500 applications received have been submitted by organisations headquartered in Africa, and just under 30 from organisations headquartered and implementing in South Africa.

The organisation has previously funded projects that include Kenya's PoaPower which received a £150,000 convertible loan for a pilot of a new business model that provides off-grid communities with affordable clean energy using an innovative 'pay-as-you-go" model.