(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 R30 million investment).
- Support Programme for Industrial Innovation (promotes 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 businesses, 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 of 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 requirements of each. Some options are debt capital or pure financing and others grant offerings, as managed for national government. In general, 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 than R1 million.
Call: +27 (0)11 269 3000 / 0860 693 888 (Make sure that you quote the exact fund you would like to apply for.)
An online application platform is available. Visit www.idc.co.za and click on ‘Login to IDC Direct’
Find more and specific information on each fund here.