Glossary of Concepts

"National System of Innovation" means interactions between public and private sector institutions as well as linkages between policies and resources that enable the production and utilization of innovation in the country.

 

"Research" means an undertaking intended to augment and extend knowledge in the scheduled fields of science or the scheduled fields of technology through a disciplined inquiry or systematic investigation, and includes the development, acquisition and transfer of expertise and technology, but excludes activities undertaken to which a legally recognised right of privilege applies;

 

"Research institute" means an organisation, institute, society or other body, whether corporate or unincorporated, and whether in the public or private sector, which engages in research in any scheduled field of science or scheduled field of technology as a regular and ordinary feature of its business or activities, and includes a researcher;

 

"Science" means the systematic study of nature, society and behaviours of material and the physical universe based on observation, experimentation and formulation of laws to describe these facts in general terms, and includes natural sciences, engineering sciences, medical sciences, agricultural sciences, social sciences and humanities;

 

"Technology" means hardware and/or software emerging from or with the application of science principles to industry or commerce or the application of total practical knowledge.

 

"Innovation" means the introduction and utilization of new products, processes, practices and services that create value in the economy and/or organization

 

"Enterprise" means any research, science or technological organisation, institute, society or other body, whether corporate or unincorporated, and whether in the public or private sector having or showing the ability or desire to try out new, unusual ways of doing or achieving business and or research.

 

"Entrepreneurship" means any research, science or technological organisation, institute, society or other body, whether corporate or unincorporated, and whether in the public or private sector characterized by the taking of financial risks in the hope of profit; enterprising and the introduction and utilization of new products, processes, practices and services that create value in the economy and/or organization.