Innovation and Technology Funding instruments
Industrial Development Corporation (IDC) development funds
The incentives in IDC funds small scale manufacturing, market entry, market development and business growth.
|Objective||Development Funds Department provides funding support to projects that have a high developmental impact and will, over time, grow our economy. The funding schemes support the aims of the New Growth Path set out by the Economic Development Department, which emphasises growth, employment creation and equity. IDC act as a catalyst, helping projects move beyond the informal sector into the economic mainstream, by providing funds to deserving projects. The development funds department has a hands-on approach. They provide the expertise and knowledge to each project; they monitor the progress of the project; and gather regular reports from the investees. The department is determined to help nurture and grow companies so that the client can maximise their potential.|
|Beneficiaries||The target beneficiaries are previously disadvantaged groups, including women, people with disabilities, low income worker groupings and marginalised communities.|
IDC support projects that will eventually contribute to the development of the economy through:
- Job creation;
- Developing small and medium enterprises;
- Developing rural areas and underdeveloped provinces and regions; and
- Boosting Broad-based Black Economic Empowerment and empowering people who were previously excluded from participating in the economy.
Because many of the selected projects are considered high risk, IDC ring-fence the funds they use.
The funds they currently manage are:
- Gro-E Scheme
- Risk Capital Facility Programme
- Support Programme for Industrial Innovation
- Transformation and Entrepreneurship Scheme
- Green Energy Efficiency Fund
- Women Entrepreneurial Fund
- Distressed Fund
- Manufacturing Competitiveness Enhancement Programme
|Benefits||Projects must show economic viability and financial sustainability; must fit into the IDC’s mandated sectors; must meet the empowerment limits set by the particular fund; and should not be less that R1-million|
Tel: +27(0)11 269 3000
Call Centre: +27(0)860 693 888