THE PLIGHT OF OTHER SA INNOVATORS
In a country where inventors and innovat vators are embroiled in a daily struggle for survival courtesy of a lack of funding an and numerous bureaucratic obstacles, So South African innovators are proving it is hard, but not impossible, to thrive in th this country. Some top talent, however, h has seen greater opportunity elsewhere.
Elon Musk, for example, has seen m more opportunity to develop his skills an and raise capital outside our borders to fu fund the development of projects like Pa PayPal, Tesla electric cars and Space-X. Mark Shuttleworth, currently battling SARS A on constitutional grounds for wit withholding 10% of his capital following the sale of his technology security inn innovation Thawte, says he was forced to emigrate in order to conduct his global entrepreneurial and philanthropic ventures. He blames the South African Reserve Bank’s closed-door policy, which means that individuals can only communicate with it on exchange control issues through the intermediation of authorised banks.
The Lodox example acts as a beacon of hope for developers of great ideas that it is possible to do it here.
Elon Musk Mark Shuttleworth