Company name: Industrial Development Corporation of South Africa
Contact telephone number:+27 11 269 3000
Postal address: P.O. Box 784055, Sandton, 2146
Physical address: 19 Fredman Drive, Sandown
Email address: callcentre@idc.co.za
Website address: www.idc.co.za
Company Profile
Established in 1940, we are a national development finance institution set up to promote economic growth and industrial development. We are owned by the South African government under the supervision of the Economic Development department.
Fund Overview
Developing new technologies is an important way of strengthening South Africa’s global competitiveness. Our Support Programme for Industrial Innovation is designed to help this sector by providing financial assistance to projects that create innovative products and processes. The programme focuses specifically on the phase from the conclusion of basic research – the proof of concept stage – to the point at which a pre-production prototype has been built.
There are three schemes within the support programme:
Product Process Development;
Matching Scheme; and
Partnership Scheme.
These are available to all South African registered businesses or individuals, depending on the merit of their project proposals.
Applicant criteria:
We evaluate all applications according to:
- The technical innovation of the new project;
- The marketability of the project;
- The ability to manufacture and market the processes or products developed;
- A significant portion of the development and production must take place in South Africa;
- The availability of project management skills to develop the project; and
- The financial ability to successfully complete the proposed development.