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Funding

“Seed Funding or Angel investors have always been a challenge in the South African landscape. Stories are often heard of people with great ideas being frustrated by the lack of financial resources that becomes a barrier preventing the dream to become a reality.

The SmartXchange Incubator therefore invites qualifying projects to submit proposals to the SmartXchange TIA Innovation Seed Fund for Media; Information Communication Technology & Electronics (MICTe) innovations. The fund is focused on applied research that will lead to the creation of products, processe s and/or series that can commercialize and advance the South African MICTe agenda”

The fund is aimed at assisting technology based SMME’s in bridging financing requirements to take their innovative ideas to market by supporting SMME’s and entrepreneurs in the MICTe innovation space. In order to qualify for this fund, applications must meet the following criteria:

  • Be an entrepreneur or SMME based in KZN .
  • The technology or business must be at a pre-revenue stage
  • There is a clear market need and technology is commercially viable
  • The technology is innovative and will result in competitive IP position for the business
  • Does not qualify for funding from traditional banks or other funding agencies
  • Funding for pre-determined seed fund activities that are listed in the application template will only be considered

The funding for innovation projects is provided as a grant, with a minimum investment of R50 000 (fifty thousand rands) and a maximum of R500 000 (five hundred thousand rands) per innovation opportunity. Successful projects will have to demonstrate the intent to further develop or commercialize the technology”.

Contact Person:  Abegail Ndlovu

E-Mail:  abegail@smartxchange.co.za