CSIR SCIENCE FOR IMPACT FUND (CSIF)
CSIF write-up
ABOUT THE FUND
The endowment fund has been dubbed the CSIR Science for Impact Fund (CSIF). It is set up to support innovative demand-driven research and technological innovations to drive industrial development generally, as well as support developmental projects in communities through technology transfer. The target of the community developmental projects is to drive social inclusion and sustainable development in Ghana. The Fund has a target of Twenty Million US Dollars (US$20 million) and the tag name is “Supporting Science, Transforming Communities”.
OBJECTIVES OF THE FUND
The main objectives of the Fund is to generate a consistent and stable flow of financial resources to support scientific research and technological innovation to drive social inclusion and sustainable socio-economic development through the implementation of technology transfer and developmental projects towards wealth creation in industries and local communities.
Specifically, the Fund seeks to:
- Mobilize both financial and non-financial resources to support transfer of specific CSIR technologies toward industrial development
- Drive the process of innovative technology development and transfer for national and local developmental programmes and projects;
- Establish incubation hubs for specific CSIR technologies to support industries and communities towards wealth creation;
- Conduct innovative demand-driven research to support industrial development
- Partner with industries and corporate organizations to deploy CSIR technologies to maximize the impact of their Corporate Social Responsibilities.
- Support early to mid-career scientists and administrators in specific priority areas of career development.
- Support the sustainability of impactful projects toward socio-economic development of Ghana
COMPELLING CASE FOR THE FUND
The CSIR Science for Impact Fund is expected to facilitate scientific research and the development of innovative technologies to significantly impact industries and communities by:
- Driving Innovation, Technology Development and Transfer
- Empowering Scientific Research
- Enhancing Reputation and Global Standing
- Ensuring Institutional Resilience and Continuity
- Promoting Social Inclusion and Sustainable Development
- Amplifying Social Impact of CSIR
- Supporting Corporate Social Responsibilities of Industries/
- Companies to Maximize Impact
- Ensuring Sustainable Financial Stability
In this process, CSIR will build partnerships with the Private Sector, Not-for-Profit and Civil Society Organisations, and other companies and organisations to co-develop and implement projects to fulfil their corporate social responsibilities.
It is hoped that the Fund will bridge the research funding gap and spur inclusive socio-economic development by addressing local needs. The research areas will be updated annually to reflect emerging issues and changing societal needs in line with international, regional and national development agenda.
FUND RAISING STRATEGIES
Various strategies will be adopted to mobilize funds. There will be three main avenues for the fundraising exercise: Internal fund mobilization from the CSIR; corporate/ government/ international organizations; and Individual donors.
MOBILIZATION FROM WITHIN CSIR
- All 13 Institutes of the CSIR and the CSIR Head Office have agreed to
- contribute 2% of net IGF towards the Fund for five (5) years.
- Researchers have agreed to contribute 2% of benefits they receive
- from project incomes, consultancies, etc. to the Fund.
- CSIR staff have also agreed to make voluntary contributions to the
- Fund
MOBILIZATION FROM THE PRIVATE SECTOR
CSIR would like to invite the following to come and support the Endowment Fund:
- Our numerous stakeholders and clientele.
- Private Companies, Industries and Businesses
- Civil society organizations
- Donor Agencies, International Organizations, Foreign Missions
- Individual philanthropists, and groups resident in Ghana and abroad
- All friends and well-wishers of CSIR, including especially those who benefit from the CSIR technologies.
- CSIR will enter into public-private-partnership agreements to establish businesses that will financial yield returns to support the Fund.
- CSIR will build stronger partnerships with the media with the aim of sensitizing industry and the general public to access CSIR technologie and at the same supporting the Fund.
RECOGNITION OF INCENTIVES FOR DONORS
Recognition and rewards will be given to donors, companies, individuals and staff of CSIR who make significant contributions to the Fund. Recognitions and awards will incude Certificates of appreciation, Public acknowledgement, or tangible tokens of gratitude, etc will be offered to different groups.
CSIR will consider naming facilities, strutures and monuments after philantropists and companies who will make significant donations in cash or in kind to support the Fund
