Environment, Science and Innovation Minister, Prof. Frimpong Boateng has disclosed that his Ministry is working towards setting up a National Science, Technology and Information (STI) fund.

The fund, when established, is expected to support science-related innovations and also serve as a funding source for private universities to undertake research activities.

“The President has promised to channel one percent of GDP into this STI fund so that private universities can also access funding for research,” he stressed.

Prof Boateng made these revelations when he was responding to a question on what his Ministry was doing to support universities to go into satellite technology on the floor of Parliament on Thursday.

Prof Boateng also said his Ministry has planned to establish a satellite ground receiving station to receive satellite information and data for national resource development, environmental monitoring and for the security of the country.

He also disclosed that the Ministry is working on some key initiatives that will support the introduction of new technologies and innovations in research and technology institutions, including universities.

He cited the establishment of the national high-performance computing centre at the Council for Scientific and Industrial Research’s Institute for Scientific and Technological Information.

Prof Boateng also revealed that his Ministry will also “establish technology incubating centres and technology commercialisation unit."

“We also plan to establish the presidential advisory council for science technology and innovation and build foundries and CnC machine top centres that will give engineers the capacity to develop machine and equipment such as satellites,” he added.