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:
- Some funding (without losing a massive chunk of equity based on a fair valuation) and support;
- Mentorship and coaching; and
- 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.
Continue reading “Seed Engine – Rare opportunity for South African Startups”
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
- 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
Website Details: Department of Trade and Industry
South African exporters get can receive a roundup of international business opportunities from a network of DTI’s foreign economic representatives and other reliable sources.
Continue reading “Trade Lead Bulletin for South African Exporters”