The funding will be for developing 60 growth-oriented SME’s and 20 innovative technological solutions – and to create 600 permanent jobs in the process over three years. The funds are managed by the CDI investment arm, CDI Capital.
Craft and Design Institute Grant Funding Opportunity
APPLICATIONS FOR GRANT FUNDING NOW OPEN
R33million boost for job creation and innovation in SA
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The Craft + Design Institute (CDI) has launched R33million in funding to boost SME growth, job creation and innovation.
This funding has been enabled by the National Treasury’s Jobs Fund through the Government Technical Advisory Centre (GTAC), the Technology Innovation Agency (TIA), and the Western Cape Department of Economic Development and Tourism (DEDAT).
The Growth Fund is open to businesses with turnover or assets of more than R1m with the ability to create permanent jobs.
Applications open on the 27th of November and close on the 31st of December 2017.
DISF CRITERIA – THIS FUND IS OPEN TO:
- Western Cape based early-stage small and medium enterprises/entrepreneurs/researchers
- Students at Western Cape tertiary institutions as long as the institution does not already have an
- Intellectual Property claim to the product/service. Please consult institution’s Intellectual Property policy
- Pre-revenue businesses in incubation or entering incubation OR
- Existing SMEs with new products/innovation that is still pre-revenue.
SECTOR FOCUS 2018/2019:
- Water Conservation
- Alternative Building Materials
- Wild Card* (*projects outside these sectors can be considered)
ALL APPLICATIONS MUST:
- Declare all IP rights on the innovation, the implications thereof and/or show freedom to operate
- Be tax compliant
- Be prepared to match 20% of the contribution of the Fund through cash contributions
- Show the design development process and how this has been informed by customer needs
- Be prepared to sign a contract and report on progress and impact to the Fund administrators on a quarterly basis during and for a defined period after the project completion.
- Only fully completed applications will be considered
- No company or individual can access more than R650 000 of the fund
- Fund allocations will be made on an activity/intervention basis linked to co-developed delivery milestones
- All IP rights remain with the applicant
- TIA retains the right of first refusal to support further technological development, as informed by the outcomes of the DISF seed funding, and TIA’s own criteria
- No staff member or associate of the CDI or TIA may apply
- CDI funding decision is final and no correspondence will be entered into
- Online applications can be made on this page – see below for application button.
APPLICANTS NEED TO DEMONSTRATE SUFFICIENT EVIDENCE OF:
- Innovation in design, technology and/or the application thereof
- Market appetite or sufficient evidence of market potential
- Competitive advantage
- Management team capability to drive the process.
For more: Click Here to GROWTH FUND
The Design Innovation Seed Fund (DISF) is open to inventors who believe they have protectable innovative technological solutions that could impact on specific sectors and could create permanent jobs.
Applications open on the 27th of November and close on the 31st of December 2017. APPLICATIONS OPEN: 27 November 2017
DEADLINE: 31 December 2017
Click Here to INNOVATION FUND: DESIGN INNOVATION SEED FUND (DISF)