INNOVATION FUND: DESIGN INNOVATION SEED FUND (DISF)
Please note that applications are currently closed for the DISF.
DISF CRITERIA – THIS FUND IS OPEN TO:
- Western Cape based early-stage small and medium enterprises/entrepreneurs/researchers
- Students at Western Cape tertiary institutions as long as the institution does not already have an Intellectual Property claim to the product/service. Please consult institution’s Intellectual Property policy
- Pre-revenue businesses in incubation or entering incubation OR
- Existing SMEs with new products/innovation that is still pre-revenue.
- South African citizens with valid South African Identity Documents or legal entities controlled by South African citizens with valid South African Identity Documents or permanent residents who hold a valid RSA ID document.
SECTOR FOCUS 2018/2019:
- Water Conservation
- Alternative Building Materials
- Wild Card* (*projects outside these sectors can be considered)
APPLICANTS NEED TO DEMONSTRATE SUFFICIENT EVIDENCE OF:
- Innovation in design, technology and/or the application thereof
- Market appetite or sufficient evidence of market potential
- Competitive advantage
- Management team capability to drive the process.
THE BUSINESS/PRODUCT/IDEA NEEDS TO:
- Have a knowledge focus
- Include technological innovation/design
- Should not easily be able to raise funds from traditional banks or funding agencies because of the inherent risks involved
- Strong preference will be given to businesses that have at least 25% black ownership and/or have good job creation potential.
The rules of the fund are as follows:
ALL APPLICATIONS MUST:
- Declare all IP rights on the innovation, the implications thereof and/or show freedom to operate
- Be tax compliant
- Be prepared to match 20% of the contribution of the Fund through cash contributions
- Show the design development process and how this has been informed by customer needs
- Be prepared to sign a contract and report on progress and impact to the Fund administrators on a quarterly basis during and for a defined period after the project completion.
- Only fully completed applications will be considered
- No company or individual can access more than R650 000 of the fund
- Fund allocations will be made on an activity/intervention basis linked to co-developed delivery milestones
- All IP rights remain with the applicant
- TIA retains the right of first refusal to support further technological development, as informed by the outcomes of the DISF seed funding, and TIA’s own criteria
- No staff member or associate of the CDI or TIA may apply
- CDI funding decision is final and no correspondence will be entered into
For queries please contact: Ryan Rode – email@example.com