THE PLIGHT OF OTHER SA IN­NO­VA­TORS

Finweek English Edition - - COVER STORY -

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

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