Seed Engine – Rare opportunity for South African Startups

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Getting  venture capital funding is a rare opportunity for South African startups.  The ideal situation for early stage companies seeking funding would have the following:

  1. Some funding (without losing a massive chunk of equity based on a fair valuation) and support;
  2. Mentorship and coaching;  and
  3. Networking with other funding opportunities and hard-to-reach networks.

They are opening a new round of applications on the 1 September 2013. Our advise is that you arrive early and take time to carefully fill out the form early. Demand is likely to be great.
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Black Business Supplier Development Programme (BBSDP)

The Black Business Supplier Development Programme (BBSDP) is a cost-sharing grant offered to black-owned small enterprises to assist them to improve their competitiveness and sustainability to become part of the mainstream economy and create employment.
The programme provides grants to a maximum of R1 million:

  • R800 000 for tools, machinery and equipment on a 50:50 cost-sharing basis; and
  • R200 000 for business development and training interventions per eligible enterprise to improve their corporate governance, management, marketing, productivity and use of modern technology on a 80:20 cost-sharing basis.

Objectives of the grant

  • To improve the sustainability of black-owned enterprises by providing funding to increase the competitiveness of the businesses.
  • To fast-track existing Small, Medium and Micro Enterprises (SMMEs) that exhibit good potential for growth into the mainstream economy;
  • To grow black-owned enterprises by fostering linkages between black SMMEs and corporate and public sector enterprises;
  • To complement current affirmative procurement and outsourcing initiatives of corporate and public sector enterprises; and
  • To enhance the capacity of grant recipient enterprises to successfully compete for corporate and public sector tenders and outsourcing opportunities.
  • Qualifying criteria of the incentive scheme

Eligible Enterprises

  • Fifty-one per cent black majority shareholding;
  • R250 000 to R35 million turnover per year;
  • One year in operation and trading as a business;
  • Fifty per cent management positions held by black people (historically disadvantaged individuals);
  • Enterprises formally registered for VAT;
  • Be operating and trading for at least one financial year

Contact Details

Website Details: Department of Trade and Industry