In South Africa, there are a number of government agencies such as the Development Bank of South Africa job fund, the Technology Innovation Agency (TIA), Industrial Development Cooperation (IDC), Growth Fund, Enablis Khula Loan Fund, etc., which are providing funds to young bioenterpreneurs for their innovative projects. The Development Bank of South Africa Jobs Fund has plans to create 150,000 jobs in next three years using its funds. This fund is working as a source of encouragement for young entrepreneurs, companies and non-governmental organizations to implement some innovative projects for expansion and growth of enterprises.
Similarly, the Technology Innovation Agency (TIA) was established in 2008 to stimulate and intensify technological innovation, in the hopes of improving economic growth and the quality of life of South Africans across the board. The agency has six key sectors (health, agro and industrial biotechnology, and in the industrial area, mining, ICT and advanced manufacturing). Funds could be for idea development and establishing new start-up companies.
The oldest of all the funding institutions is the Industrial Development Corporation (IDC), established in 1940. The IDC is a national development finance institution set up to promote economic growth and industrial development. The IDC operates many funds but the most accessible to young entrepreneurs is the Support Program for Industrial Innovation Fund (SPII). This fund is designed to promote technology development in manufacturing industries in South Africa through support for innovation of competitive products and/or processes.
The Development Bank of Southern Africa invites proposals from entrepreneurs and NGOs to implement innovative projects in South Africa.
Areas to Focus:
- – Enterprise Development
- – Infrastructure Investment
- – Support for Work Seekers
- – Institutional Capacity Building
Last date for submitting the application is July 30, 2011.
For more information and details, please visit this link.
