The impact of skills and social networks on the South African biotechnology sector

Abstract

South Africa may expand their biotechnology industry through increased foreign direct investment. However, the main challenges facing South Africa are human capital development and social networking The objective of this report was to gain a better understanding of the value that human capital development and social networks have on the biotechnology sector in South Africa. Used correctly, this understanding could enhance the success rate of foreign direct investment and provide a platform to increase South Africa’s contribution as a serious global contender. The researcher’s objectives were to answer research questions on skills and social networks. Twenty eight respondents were interviewed via e-mail and face-to-face surveys, using a structured questionnaire for the skills survey. For the social networking survey, the same approach was adopted but only 8 responses were received. Although the research only uncovered specific answers related to the research questions, delving into the various sources on information improved the current understanding of the role of skills and social networks in the biotechnology sector. These additional findings relate to the importance of clusters, female participation in the industry, collaboration efforts over geographically dispersed areas as well as which skills are important now and which will become important in the future. Copyright