Industrial Development Corporation – under the Economic Development Department of National Government
THe IDC is a financially self-sustainable entity and plays a major role in entrepreneurship development. The following sector/industry/development area specific funding options exist.
Gro-E Scheme: (Green industries: renewable energy, energy efficiency, pollution mitigation, waste management and recycling and biofuels)
Risk Capital Facility Programme: PDI below R30million investment
Support Programme for Industrial Innovation and technology development: In the form of non repayable grant of between 50% and 85%
Transformation and Entrepreneurship Scheme: Finance for marginalised groups in start-up business, expansions or expansionary acquisitions. This fund also embraces the:
- Women Entrepreneurial Fund
- People with disabilities fund
- Equity Contribution Fund
- Development Fund for Workers and
- Community fund.
Green Energy Efficiency Fund: Supports the introduction of self-use renewable energy technologies
Women Entrepreneurial fund: Finance for Women-based businesses with total asset base fo up to R80 million and up to R30 million per transaction
Distressed Fund: Structured funding format: debt or equity with minimum of R1 million
Manufacturing Competitiveness Enhancement Programme: Funding for existing manufacturers to induce competitiveness and job retention. Working capital facility of R50 million, term – up to four years, 6% interest
Each programme has very specific criteria and one should assess the set of requirements of each.
Tel: 011 269 3000 or 086 693 888 (Make sure you quote the exact fund you would like to apply for.
Online application: www.idc.co.za – click on to IDC Direct
More specific info on the funds: www.idc.co.za/developmentfunds
Information gathered from: Entrepreneur Magazine