| Preamble Long Title |
The Bill proposes a law to provide for the framework to encourage
growth and sustainable technological development and new
entrepreneurship; employment; to create a more favourable
environment for innovation; to attract Kenyan talents and capital;
and for connected purposes. |
The proposed law seeks to govern the interactions and relationships
between the government, incubators, startups, investors, and the
ultimate consumers of innovative products. |
| Clause 2 Interpretation |
Credit Guarantee |
Means the guarantee of monetary liabilities, excluding technology
guarantee borne by an enterprise. |
| Innovation (Defined as is in the Science, Technology and Innovation
Act, 2013) |
Includes:
- a technovation model, utility model or industrial design within
the meaning of Industrial Property Act, 2001;
- a product, process or idea which is novel;
- an improved use of new product, service, or method in industry,
business or society;
- indigenous or traditional knowledge by community of beneficial
properties of land, natural resources, including plant and
animal resources and the environment; or
- any other non-patentable creations or improvements which may be
deemed as deserving promotion or protection or
sui generis intellectual property rights and innovator
shall be construed accordingly.
|
| Startup |
Includes technology-based innovative entity, legally recognised by
the laws of Kenya, with strong growth potential and a disruptive
economic model. |
| Startup incubator or Incubator |
Means a company, partnership, non-governmental organisation or
limited liability partnership, whose principal object is the support
of the birth and development of start-ups, innovation, and
activities related to the transfer of technological and research,
development, and innovation process, through the offer of dedicated
physical spaces and services advice. |
| Clause 3 Object of the Bill |
The Bill proposes the following object:
- Fosters a culture of innovative thinking and entrepreneurship;
- Registration of startups;
- Linkage of start-ups with private investors, financial
institutions, the private sector, research institutions and such
other institutions at the county, national and international
level;
- Facilitate investments in startups;
- Facilitate the provision of fiscal and non-fiscal support to
startups in Kenya;
- Promotes an enabling environment for the establishment,
development, conduct of business, and registration of startups;
- Establishment of incubation facilities at the National and
county levels of government;
- Establish an environment that promotes the establishment of
startups; and
- Monitoring and evaluation of the legal and regulatory framework
to encourage the development of startups.
|
The overarching role of the Bill is to set up an ecosystem where
startups may be created, supported, and to enhance them spill over
into the various sectors of the economy. The National economic
blueprint is heavily reliant on the technology and innovation which
so far remains unregulated. The proposed regulation of disruptive
startups is a means to an end. It is meant to support the digital
economy and the knowledge economy. |
| Clause 4 Role of National and County Governments |
The Bill proposes that the County and National Governments shall:
- Promote innovation;
- facilitate the transfer of technology innovation;
- create and develop a sustainable, globally competitive
technology innovation sector that contributes towards the
accelerated growth of the economy;
- promote the creation of employment and wealth creation; and
- promote the linkages between universities and research
institutions and the business community.
Further, the Agency and the county executive committee members
shall:
- put in place a national and county incubation policy framework
for the development of the business incubation sector and
startup system;
- enter into partnerships with local and international business
incubators in order to promote the establishment and growth of
startups in Kenya;
- establish programmes for the certification and admission of
incubators into the incubation programmes;
- put in place mechanisms that promote the development of business
incubation programmes;
- create an enabling environment for the promotion of business
incubators including fiscal and non- fiscal incentives to
incubators and startups;
- establish public online and other platforms for access to
information including the establishment and development of
startups, existing incubation programmes, access to fiscal and
non-fiscal support;
- keep and maintain a directory of startups and incubators;
- support any research and development activities undertaken by
startups;
- put in place mechanisms for preincubation of entities and for
this purcpose, provide training and capacity building programmes
for registered startups;
- put in place mechanisms to enable access to entities from
marginalized groups through the use of quotas or mechanisms that
match them to unused capacity in existing programmes; and
- put in place facilitative structures that ensure the protection
of the innovations of startups at the national and international
level for the protection of the intellectual property.
|
Innovative entrepreneurial activities do not happen randomly or in a
vacuum but requires enabling conditions hence, the Bill proposes to
mandate the National and County Governments to provide economic
conditions such as incentives, opportunities, and to remove barriers
to innovative businesses, thinking and ideas. |
| Clause 5 Establishment of the Incubation Programmes |
The Bill proposes the establishment of incubation programmes and
empowers the agency and the members of the county executive
committee to:
- develop standards and guidelines to regulate the relationship
between an incubator and a startup;
- establish an online platform setting out information on existing
incubator programmes, incubators and startups and the process of
registration and admission into the programmes; and
- prescribe a criteria for the evaluation of entities, programmes
and structures set up for the purposes of implementing the Act.
|
As the country moves away from resource driven economy to a
knowledge driven economy, there is a huge incentive in setting up
incubation programmes that will assist startups to grow. These
programmes will provide an enabling environment for infant
technologies, ideas, and industries to grow. |
| Clause 6 Appointment and functions of Registrar and other officers |
The Bill proposes to task the Agency with the registration of
startups and establishes the Registrar of Startups who shall be:
- Competitively recruited by the Public Service Commission;
- Appointed by the Agency on such terms and conditions as the
Agency may, in consultation with the Salaries and Remuneration
Commission, determine;
- The Agency in consultation with the Public Service Commission
appoint a Deputy Registrar and such number of County Registrars
in the counties as shall be necessary for performance of the
functions of the Registrar and who shall be subject to the
directions of the Registrar.
|
The Science and Technology Innovation Agency (“the Agency”) is well
suited to register innovative startups due to its immense expertise
in innovative and technological programmes.Registration helps in
monitoring startups with various compliance requirements such as
maintaining a certain level of growth objective and other business
laws. |
| Clause 7 Functions of the Registrars |
The Bill mandates the Registrars of startups to:
- Keep an updated database of all registered startups and startups
under review indicating;
- Business development stage;
- Ownership;
- Description of the innovative aspects of the company,
including intellectual property rights;
- Products and services offered;
- Investment support received;
- Financial needs; and
- Target market.
- Register and supervise startups registered under the Act to
ensure compliance with its provisions;
- Maintain the Register of all the startups in the country;
- Keep all document and records of registered startups;
- Enforce the decisions of the Board of the Agency with respect to
the registration, regulation, and supervision of startups under
this Act;
- Coordinate the functions of the County Registrars;
- Perform such other functions as may be necessary for the
implementation of the Act or as may be specified under any other
law.
Further, the County Registrars and Assistant Registrars shall—
- facilitate the registration and development of startups;
- receive applications for registration of startups;
- monitor and evaluate startup projects; and
- carry out such duties as may be delegated from time to time
|
This proposal is in line with the Companies (Beneficial Ownership
Information) Regulations, 2020 which required all companies whether
public or private to provide sufficient company details to the
registrar including the details of its beneficial owners. |
| Clause 8 Eligibility for admission into the incubation programme |
An entity shall be eligible to be registered as a startup and for
admission into an incubation programme if the entity;
- is registered company under the Companies Act; or partnership
firm under the Partnership Act; or limited liability partnership
under the Limited Liability Partnership Act; or non-governmental
organization under the Non-Governmental Organizations Co-
ordination Act;
- is newly registered or has been in existence prior to the coming
into force of the Act; for a period of not more than seven years
from the date of its incorporation or registration; and in the
case of startups in the biotechnology sector, the period shall
be up to ten years from the date of its incorporation or
registration;
- has as its objects; the innovation, development, production or
improvement and commercialization of innovative products,
processes or services or if it is a scalable business model;
- has its headquarters or a branch in Kenya;
- is at least one third owned by one or more citizens of Kenya;
and
- at least fifteen percent the entity’s expenses can be attributed
to research and development activities.
The Agency may develop alternative criteria for startups that do not
satisfy the requirements of subsection (1) for registration as
startups and for admission into incubation programme The Act shall
not apply to an entity which is established or formed as a result of
the split, reconstruction, merger or reconstitution of an existing
business; or a holding company or subsidiary of an existing entity
which is not registered as a startup. |
Incubation is meant to support nascent ideas, innovations, and
technologies financially. Not all startups necessarily have the
potential or ability to disrupt any sector of the economy, there
must be a means of identifying qualifying startups that are
innovative, researched based and with technological components.
Although the proposed qualifying criteria are good, there is need to
narrow the scope to reduce the number of startups that may qualify
for admission into the incubation programme. As it stands, the
floodgate for admission is wide open and may thus be misused and
ultimately defeat the purpose. For example:
- there should be a cap on the amount of turnover for an entity to
qualify for admission into the incubation programme.
- there should be a cap on permissible sectors of the economy
which may be determined through exclusion method; and
- Research and development with a technological edge should be a
major factor.
|
| Clause 9 Application for admission into an incubation programme |
An entity that qualifies for admission into an incubation programme
under section 8 may submit an application, in the prescribed form:
- in the case of an incubation programme managed by the Agency,
Ministry or any other entity on behalf of the National
Government, to the Agency; or
- in the case of an incubation programme managed by a county
government, to the county registrar.
An applicant for admission shall be accompanied by:
- a statement setting out the following information: the name of
the entity; the general nature of the proposed business of the
entity; a declaration form stating whether an entity has
complied with eligibility requirements; the proposed registered
address of the entity; the entity’s place of incorporation or
registration; the entity’s registration number; and the
registered address of the entity to which all communications may
be addressed;
- a letter of recommendation or support which may include a
letter: a patent or trademark registered in Kenya; statement on
information regarding the elements inherent in the economic
model of said entity including-
- innovation aspects;
- factors differentiating the factors of realization of the
strong potential of economic development;
- scientific and technical qualifications and the experience
of the project team;
- a prize or reward obtained and any patent for invention
filed;
- the certificate of incorporation or registration of the entity;
and
- a brief description of the innovative nature of the product or
service.
The Agency and the county executive committee members shall put in
place mechanisms to ensure that the admission process of an entity
under this section is simple, efficient, accurate and transparent
and shall, for this purpose —
- establish an online platform for the submission of the documents
and information specified under subsection (1); and
- devolve and decentralize the registration process to the lowest
devolved unit and may establish such registration desks as may
be necessary to enable access to registration
|
This means that admission into the incubation program will not be
automatic for all startups. Startups requiring incubation support
must, as pointed out above, demonstrate;
- innovation aspects;
- factors differentiating the factors of realization of the strong
potential of economic development;
- scientific and technical qualifications and the experience of
the project team;
- a prize or reward obtained and any patent for invention filed;
This way, the Agency is able to sieve startups that are innovative,
disruptive and have the potential to create massive employment upon
fruition. |
| Clause 10 Consideration of Application and Registration |
The Registrar or the County Registrar, as the case may be shall,
within thirty (30) days upon receipt of an application for admission
into the incubation programme:
- examine the application together with the documents;
- if the Registrar or the County Registrar considers it necessary,
call for such further information or carry out such inspections
as he or she may consider necessary for the determination of the
application.
Where the Registrar or the County Registrar is satisfied that an
applicant meets the requirements for registration, the Registrar or
County Registrar shall, subject to the provisions of the Act, enter
the name and particulars of the applicant in the register of
startups kept for that purpose. |
The registration process is fast-tracked to facilitate ease of
starting the business and doing business. Reducing legal formalities
and bureaucracy is itself an incentive. |
| Clause 11 & 12 Certificate of Registration And Effect of
Admission into the Incubation Programme |
The Registrar or County Registrar, as the case may be, shall, upon
entering the name of the applicant in the register, issue to the
entity, a certificate in the prescribed form and certificate of
admission into an incubation programme shall be conclusive evidence
that the startup—
- has met all the requirements for registration specified under
the Act;
- has been duly registered in accordance with the Act unless it is
proved that the registration of the startup has been cancelled.
|
This is in line with business operation policies and consumer
protection imperatives, all businesses must have certification
certificates of operation or licenses. It also helps the startup to
benefit from the exemptions afforded to the startups admitted into
the incubation program. |
| Clause 13 Refusal to Admit an Entity into the Incubation Programme |
The Registrar or county registrar may reject an application for the
admission of an entity where—
- the entity has submitted false or misleading information in its
application;
- the application does not comply with the provisions of the Act;
- the entity does not meet the criteria specified under the Act
for the registration of a startup; or
- the objects of the entity are likely to be pursued for an
unlawful purpose or used for a purpose incompatible with public
interest.
The Registrar or county registrar, as the case may be, shall notify
the applicant, in writing, of the decision to reject an application
for admission within fourteen days of such rejection. |
Since admission into the incubation programme is not automatic,
fairness and natural justice requires prompt feedback that is clear
and unambiguous. Where an application is refused for not meeting the
criterion, the registrar must give reasoned decision so as to enable
the applicant to gauge their case and determine if they should
resort to a higher authority or court process. This prevents
discrimination. |
| Clause 14 Application from an order of refusal or de-registration |
A person who is aggrieved by the decision of the Registrar or county
registrar under this Part may, within thirty (30) days of being
notified of the decision, apply to the Cabinet Secretary for a
review of the decision. An application for review shall be in such
form as the Cabinet Secretary shall prescribe. The Cabinet Secretary
shall determine an application under subsection (1) within sixty
(60) days of receipt of the application under subsection (1) and may
confirm, vary or reverse the decision under review. |
Although this proposal may be deemed fair and just in an open
democratic society, it is not enough. There should be recourse to a
judicial authority to examine the actions of these administrative
offices. For instance, if the Cabinet Secretary confirms the
decision of the Registrar and the Applicant does not agree with both
decisions, there should be a right of Appeal to the High Court, or
any tribunal established for that purpose. |
| Clause 15 Register of Startups |
The Registrar shall keep and maintain a register of —
- all startups registered under the Act specifying; the name of
the startup; the members of the startup; the address of the
startup; and such other particulars as the Registrar may from
time to time determine; and
- all de-registered startups; and all startups which have
voluntarily deregistered under the Act.
Any person may inspect the register and obtain a copy of, or an
extract from the Registrar upon payment of such fee as the registrar
shall determine. |
The office of the registrar of startups just as the registrar of
companies plays an essential role in fostering business culture and
monitors compliance with laws and government directives. It serves
as a true record of the activities of the company which help
investors and consumers to make their decisions. |
| Clause 16 Alteration of Register |
The Registrar or County Registrar, as the case may be, may, from
time to time, make changes or corrections in the register relating
to any entry. Any change or correction in relation to an entry made
pursuant to a notice issued by a startup shall be made to the
Registrar as soon as it is practicable after receipt of an
authenticated notification thereof. |
This is good law as it protects consumers and the investors who deal
with the startups in official capacity. The records of the startup
must reflect what is in the office of the registrar. |
| Clause 17 Change of Particulars |
A startup that makes a change to any of its particulars shall,
within thirty (30) days of such change submit to the Registrar
information regarding the change. Upon receipt of the information
under subsection (1) and where the Registrar is satisfied that the
change does not affect its status of registration as a startup,
enter the changes in the register kept by the registrar under this
Act. |
This proposed law is in harmony with the various laws which requires
companies, partnerships, NGOs, societies and saccos to regularly
update the registrar either where there are changes or yearly as
required by law. Further, beneficial owners must always be
registered with the office of the registrars of companies, hence it
is important for startups to abide by the law. |
| Clause 18 Obligations of Registered Startups |
A startup registered under the Act shall—
- be encouraged to achieve growth goals related to the number of
human resources, total assets and the annual turnover set by a
regulations;
- maintain accounting in accordance with the legislation and
arrangements in place for the work and submit its annual
financial budgets to the Agency no later than thirty first day
of March in each financial year; and
- inform the Agency of a change in its structure, composition or
object within a period of one month from the date of the change
|
These obligations are important to ensure the startups are monitored
in terms of development, and growth. It also helps the Agency to
ascertain or determine if a startup should be admitted into the
incubation programme or removed. |
| Clause 19 Eligibility for Admission into an incubation programme |
An entity may be certified as an incubator, if the entity—
- is registered as a public limited company, a non- governmental
organization, a private limited company, a limited liability
partnership or a partnership;
- has its principal object the delivery of services to support
establishment and development of innovative startups;
- has in place: facilities, suitable to accommodate innovative
startups; and adequate equipment for startup activities
innovation;
- is administered or directed by persons of recognised competence
on business and innovation and has a structure at its disposal
for technical and managerial consulting;
- has established collaborative relationships with universities,
centres of research, public institutions and financial partners
that carry out activities and projects related to innovative
startups.
|
The set criteria ensures that there is a threshold of supportive
infrastructure that can help startups access skillset talents,
finances, and technological capacity. |
| Clause 20 Certification of Incubators |
An entity that meets the criteria specified under Clause 19 may
apply for admission as an incubator by submitting an application
together with a statement. setting out information under subsection
(2) —
- in the case of an incubator programme managed by the Agency, to
the Registrar; and
- in the case of a programme managed by the County government, to
the County Registrar.
A statement complies with this subsection if it contains the
following information relating to the incubator—
- address of the incubator;
- principal object;
- brief description of the projects carried out;
- expenditure on research and development;
- list of shareholders;
- list of investor companies;
- educational qualifications and professional experiences of
members and staff;
- the existence of professional relationships, of collaboration or
commercial with other incubators, investors institutional and
professional, universities and research centers;
- last financial statements filed;
- list of industrial property rights and intellectual property
rights.
|
Incubators’ certification is a prerequisite since it ensures that
incubators meet all the technical capacity, technological knowhow,
and the right conditions or environment to support startups. |
| Clause 21 Withdrawal from an Incubation Programme |
The Agency shall, in consultation with the county executive
committee members, prescribe standards and guidelines to be adhered
to by a startup or an incubator that intends to withdraw from an
incubation programme established pursuant to the Act. The Agency or
a county executive committee member may, where an incubator fails to
adhere to or meet the requirements under the Act, revoke the
admission of the incubator in accordance with the guidelines
prescribed by the Agency. |
An entity cannot remain in incubation forever, thus, there must be
compulsory means of expulsion from incubation. Either by attaining a
certain capital threshold or specified number of years. The
baseline, however, should be if joining an incubation program is
voluntary through application, then withdrawal should equally be
voluntary. This ought to be done in a systematic manner to avoid
wastage of resources and that a startup is able to sustain itself
once out of incubation. |
| Clause 22 Obligations of an Incubator |
An incubator registered under the Act shall:
- support novice technological entrepreneurs at the earliest stage
of technological entrepreneurship;
- have a defined minimum and maximum technological innovation
projects it can handle simultaneously;
- facilitate technological innovators to implement their ideas and
form new business ventures;
- determine the technological and marketing applicability of a
technological innovation idea;
- have a viable research and development plan and expertise;
- provide secretarial and administrative services to startups;
- create investment opportunities for the private sector,
including for venture capitalists; and
- transfer technologies from research institutions and into the
technological startups’ industry.
|
An incubator must have the capacity, technological knowhow, and the
favourable conditions to enable it to support startups. |
| Clause 23 Incentives for Incubation |
The National and County governments shall support incubators through
capital grants, fiscal and non fiscal support. |
Innovative entrepreneurial activities do not happen randomly or in a
vacuum hence, the bill proposes to mandate the National and County
Governments to provide economic conditions such as incentives in
form of grants in addition to removing barriers. |
| Clause 24 Support to Startups |
The Agency and the county executive committee members shall put in
place measures to support the establishment and development of
startups and shall, for this purpose
- subsidise the formalisation of startups;
- facilitate the protection of the intellectual property of
innovations by startups in Kenya and with international
organisations;
- provide fiscal and non-fiscal support to startups admitted into
incubation programmes under the Act;
- provide support in the form of research and development
activities; and
- provide such other support to enable the development and growth
of startups registered under this Act
|
The easier the creation of startups the better for the investors in
startups. The ease of doing business determines the startups spill
over. |
| Clause 25 Credit Guarantee Scheme |
The Cabinet Secretary may, in consultation with Board of Trustees of
the Fund and where necessary for the development and growth of
startups under the Act, establish a credit guarantee scheme. Where
the Cabinet Secretary establishes a credit guarantee scheme under
subsection (1), it shall have as its objectives—
- the provision of accessible financial support to startups;
- a framework for credit guarantee for startups;
- guarantee for investors in startups;
- availing of financial and credit information to startups;
- capacity building on financial and risk management to startups.
Where a credit guarantee scheme is established pursuant to
subsection (1), the Cabinet Secretary shall ensure that there is in
place—
- a strategy and operational goals that are aligned to the
objectives under subsection (2);
- a criteria for eligibility and qualification for recipients of
funding under the Scheme;
- a criteria for the monitoring and evaluation of projects
undertaken under the Scheme and the efficiency of the operations
of the Scheme;
- mechanism for transparency, accountability and reporting on the
activities of the Scheme
|
This is a good initiative to attract talent and investors in the
startups ecosystem in the country. |
| Clause 26 Training and Capacity Building |
The Agency shall put in place a programme for the training and
capacity building of startups under the Act and shall, for this
purpose establish a platform setting out information at the National
and County level of government, on—
- existing incubators;
- available training programmes;
- mentors and resource persons;
- projects under existing incubation programmes;
- available fiscal and non-fiscal support services;
- business information necessary for the management and
development of startups;
- such other information as the agency shall, in consultation with
the county executive committee member consider necessary.
|
Startups are part of the move to knowledge economy from resource
driven economy. As such, it is very important to ensure continuous
training and facilitate acquisition of skills that are innovative
and novel. |
| Clause 27 Application for Grant or Revocation of Patents |
The Agency shall facilitate startups in the —
- application for registration, grant, revocation and institution
of legal action for infringement of intellectual property
rights; and
- filing and registration of intellectual property at the
international level.
|
This is a good initiative because startups are business
organizations that must comply with the patents rights and equally
benefit from the protection of brand or patents infringements. |
| Clause 28 Fiscal Incentives |
The Cabinet Secretary shall, in consultation with the Cabinet
Secretary responsible for matters relating to finance, put in place
measures for the granting of fiscal incentives including tax
incentives as shall be considered necessary for the development of
startups in the country |
Incentivization is crucial for startups since most of the time they
lack capital and tax burdens make them dwindle instead of growing
especially in the early stages. |
| Clause 29 Growth Objective |
A startup shall be encouraged to cumulatively achieve growth
objectives as set out by the Cabinet Secretary by regulation. |
So far, it is unclear how the law will regulate the growth
objectives for the startups. Nonetheless, startups need to have
projections on the expected yearly turnover, employment creation,
and expansion. |
| Clause 30 Regulations |
The Cabinet Secretary may make regulations generally for the better
carrying out of the provisions of the Act and may make regulations—
- on the conditions and process for the exemption of startups from
registration fees;
- on workplace and labour issues with employees, independent
contractors, and service providers;
- on commercial transactions, including product development,
production, corporate partnering, advertising, marketing, and
sales;
- on employee benefits and compensation;
- on protection of intellectual property rights;
- on the relationship between founders and employees;
- on the exemption of startups from competition laws;
- on the intergovernmental support for startups;
- for the reporting and accountability by startups, under the Act,
of the funds utilised by them;
- for the de-registration of startups;
- for the grounds and process on refusal to admit an entity into
an incubation programme;
- for th eadvertising and impact assessment of the measures of
startups; and
- for incentives to invest in innovative startups
|
It is unclear who shall be responsible for the making of the
regulations between the Agency and the Cabinet Secretary since the
Bill contradicts itself by mandating both the Agency and the CS to
make regulations. It is our view that the Agency owing to its
expertise should draft the regulations in consultation with Cabinet
Secretary. |
| Clause 31 Amendment of the Science, Technology, and Innovation Act,
2013 |
The Science, Technology and Innovation Act is amended—
- in subsection (1) of section 29 by inserting the following new
paragraph immediately after paragraph (p)— (pa) provide
financial support to technological innovations registered under
the Startups Act;
- in section 32 by deleting subsection (4) and substituting
therefor the following new subsection— (4) The Fund shall be
managed by a Board of Trustees which shall consist of eleven
members to be appointed by the Cabinet Secretary as follows:
- a chairperson, being a person with knowledge and experience
in matters related to finance, investment and fundraising
related to science, innovation and technology;
- the Principal Secretary in the Ministry responsible for
finance;
- the Principal Secretary in the Ministry responsible for
science and technology;
- one person nominated by the Kenya Private Sector Alliance;
- one person with knowledge and experience in finance and
investment nominated by the Capital Markets Authority;
- two persons with knowledge and experience in the fields of
innovation, technology and entrepreneurship;
- two persons representing startups in the country nominated
by the most representative organisations representing
startups;
- the Director of the Kenya Innovation Agency, who shall be an
ex officio member; and
- the Secretary to the Commission, who shall be an
ex-officio member.
- by deleting the words “subsections (4)(a), (d), (e) and (f)”
appearing immediately after the words “Trustees referred to
under” in subsection (5) and substituting therefor the words
“subsection (4) (a), (d), (e), (0 and (g)”.
- in subsection (2) of section 33 by inserting the following
new paragraph immediately after paragraph (b)— (ba)
financial support to technological innovations;
- in subsection (1) of section 36 by inserting the following
new paragraph immediately after paragraph (g)— (ga) provide
financial support to technological innovations;
|
The proposed amendments seek to include innovative startups to
benefit from the Fund created under the Science, Technology, and
Innovation Act and to increase the member of the Board of the Fund. |
