SA lacks culture of innovation – Goldstuck
New technology listings on the local exchange in South Africa have been far and few between due to a lacks of a culture of innovation according to Arthur Goldstuck, industry analyst and MD of technology research group World Wide Worx.
“A key factor in the lack of new listings of tech companies in South Africa is the lack of a culture of innovation. Many start-ups see innovation as being able to create a South African copy of what has been successful elsewhere,” he told BusinessTech.
He notes that there is always a possibility of a company or visionary thinker latching onto the next big thing and building it up into a giant corporation.
“However, most entrepreneurs who make good are happy to sell out to a multi-national or local giant if the price is right, preventing promising start-ups from becoming big in their own right.”
On current trends in the technology space, Goldstuck says that he biggest innovations are happening invisibly to the traditional tech sector.
“These include Smarts TVs, led by Samsung and, and to a lesser extent, LG. Because we see a TV set as a household appliance, people do not associate it with hi-tech, and therefore do not see it as having an impact. But now the TV set itself will be content-rich and connected to the internet, and that will change far more than only the TV-watching experience.”
In terms of home-grown innovation, Goldstuck believes that a new disruptive technology is unlikely in 2012.
“LTE is the potential game-changer, and already underpins most new data and collaborative technology and offerings being launched in the USA this year. However, the slow pace of our licensing regime means it will probably only arrive in 2013,” he said.
He opines that the Ultrabook computer format, as introduced last week at the International Consumer Electronics Show may do in 2012 what the tablet did in 2011, as it offers similar portability with far greater functionality, although at a much higher price.
“The biggest potential game-changer, however, will be the penetration of smartphones into lower-income groups. So it’s not a new technology as such, but a new way that existing technology will be used,” Goldstuck concluded.
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