Harnessing the potential of innovation through an improved business climate for startups, skilled immigration, trade facilitation and competition in information and communication technology (ICT), as well as easier access to research and development (R&D) tax incentives, would significantly help to create jobs and reduce poverty,” international finance institution the World Bank 2017 South Africa Economic Update ‘Innovation for Productivity and Inclusiveness’ report states.

Innovation can improve the lives of millions of people, particularly poor people, by improving the quality of goods and services, while introducing disruptive technologies can lower barriers for competition and expand economic opportunities.

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