Propella Business Incubator (Pty) Ltd has been contracted by the Technology Innovation Agency (TIA) to implement an SMME Seed Fund, aimed at assisting knowledge economy-based SMMEs in the Eastern Cape to access bridging finance to advance their innovative ideas to market. The monetary value of the grant funding will range from R50 000 (minimum) to R650 000 (maximum) per project.
This Proposal Call will be limited to the following sectors:
• Renewable Energy
• Energy Efficiency
• Circular Economy
• Advanced Manufacturing
• Internet of Things (IoT) / Smart City Solutions.
TIA SEED FUND PROPOSAL : PLEASE TAKE NOTE OF THE FOLLOWING BEFORE COMPLETING THE APPLICATION FORM
- Is your product / service beyond just an idea ?
- Have you developed a prototype/minimum viable product (MVP) for your product/service/idea
- Can you substantiate that there is a real need in the market for your product / service (have you done a market assessment and or viability study) ?
- Is your product / service unique ? (Is it patentable?)
- Will the product / service be developed and remain in NMB?
- Does your product / service fall within the renewable energy, energy efficiency, circular economy, advanced manufacturing, IoT sectors ?
- Are you prepared to participate in the Propella Incubation Programme if requested to do so?
Applicants must please take note of the following qualifying criteria:
• The product / service must be at TRL (Technology Readiness Level) 3
• A basic working prototype must have been developed – i.e. you must be able to demonstrate that the prototype works
• The product / service must be unique / a differentiator in the market
• Applicants must have done a market assessment to establish a clear need for their product / service
• Applicants must be prepared to enter the Propella Incubation Programme
Funding will be directed at SMMEs / entrepreneurs requiring the following activities:
• Developing the prototype / process further to market readiness (as part of comprehensive technology package);
• Intellectual property (“IP”) support and sourcing of IP opinions;
• Production of market samples and/or associated testing;
• Techno-economic evaluation studies;
• Conducting field studies to further develop the technology, market and/or customer needs;
• Refining and implementing designs;
• Support of certification activities;
• Piloting outputs and technology scale-up and techno-economic evaluation;
• Business plan development
The following activities will not qualify for funding support:
• Working Capital
• Operational expenses
• Purchasing of equipment that is not within the applicant’s scope of work and relevant to the allowable activities and objective of their application.
Projects should have the potential for further investment and development by funders.
FUNDING WINDOW IS NOW CLOSED