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Growth Fund 2018-01-12T10:07:41+00:00

GROWTH FUND

The Growth Fund is a new funding initiative established as part of the CDI’s three-year Jobs Fund project, funded by the National Treasury through the Government Technical Advisory Centre (GTAC), the Technology Innovation Agency (TIA) and the Western Cape Department of Economic Development and Tourism (DEDAT).

The Fund is inviting SME’s experiencing growth or poised for expansion and able to create sustainable quality jobs to apply for Grant funding.

Criteria – the fund is open to:

  • Existing businesses (preference will be given to businesses that have been trading for 2 years or more) in the craft, design and light manufacturing sectors, but other industries will be considered.
  • Businesses with turnover or assets of more than R1m and a willingness to create permanent employment must demonstrate year on year growth and/or the potential for sufficient growth and be tax compliant.
  • The Business must be willing and able to create one permanent employment job per grant investment of R21,000 and prepared to contribute an additional 20% (R4,200) of the grant amount in cash to be used in the business (R25,200).
  • The Business must be willing and able to create one permanent employment job per grant investment of R21,000 and prepared to contribute an additional 20% (R4,200) of the grant amount in cash to be used in the business (R25,200). The Fund is open to businesses able to create any number of jobs. The total number of jobs the Fund aims to achieve is 600.
  • 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.
  • Be owner manager or strong management team.
  • The controlling interest of the enterprise for an applicant which is a juristic person (51% of the issued ordinary share capital) must be held by South African citizens with valid South African Identity Documents or a South African Registered legal entity itself controlled by South African citizens with valid South African Identity Documents.
  • All business operations, including but not limited to projects, programs or enterprises, must be operated within South Africa

Online applications can be made on this page – see below for application button.

APPLICATIONS OPEN: 27 November 2017
DEADLINE: 31 December 2017
For queries please contact: Ryan Rode – ryan.rode@thecdi.org.za

Applicants need to demonstrate sufficient evidence of:

  • Sales growth or market growth potential
  • Competitive advantage
  • Management team capability to drive the process.

The rules of the fund are as follows:

All applications must:

  • Be tax compliant
  • Match 20% of the contribution of the Fund through cash contributions
  • Be an existing business with turnover or assets above R1m
  • Must create one job for every R21,000 grant investment. (maybe 10 for R210,000)
  • Must sign a contract and report on progress and impact to the Fund administrators on a quarterly basis during and for a two-year period after the project completion.
  • Must be not be insolvent or currently under debt administration
  • Must be willing to provide financial statements and all supporting documents required
  • Must commit to train new employees

In addition:

  • Only fully completed applications will be considered
  • CDI funding decision is final and no correspondence will be entered into
  • No staff member or associate of the CDI, GTAC or Department of Economic Development and Tourism may apply

The grant can be used for:

  • Advertising, Marketing & Communication
  • Building & other Fixed Structures
  • Equipment & Machinery
  • Materials
  • Market Research & Testing
  • Professional Services
  • Software & Other Intangible Assets
  • Samples
  • Training
  • Transport
  • Salaries for Key Personnel, for a specific period, to leverage growth opportunities
  • Production Process Efficiency

The grant may not be used for:

  • The purchasing of equipment or operational expenses that is not within the applicant’s scope of work pertaining to the allowable activities and objective of their application.

Non-financial support includes access to:

  • Business development training
  • Coaching and mentoring
  • Prototyping/sampling facilities and expertise
  • Market platforms to test market-ready products

Exclusions:

  • The following industries are excluded:
  • Tobacco, liquor, gambling, sex trade
  • Armaments
  • Speculative real estate
  • Leveraged buy-out funds:
  • Hedging
  • Borrowings
  • Ventures inconsistent with the mandate of CDI Capital
  • Loans to partners, the fund managers, their employees and affiliates, except for members of Financial Sector Charter
  • Any business involved in illegal trade
  • Any business whose trade or operations may prejudice the reputation and good standing of CDI Capital
  • Any political organisation
  • People under debt review
  • Any business having directors (or equivalent) who are un-rehabilitated insolvents individuals
  • Technically insolvent businesses and individuals
Please note: Applications are now closed

FUND APPLICATION PROCESS

Fund application flowchart

“The CDI has assisted us during the funding process with financial management and mentorship as well as export readiness.”— Ilundi (Jobs Fund 2012-15 recipient). The funding enabled the business to fully equip the workspace with the tools, machinery, office equipment and furniture to increase production capabilities; and they employed two more full-time staff members. Turnover increased by over 700%.

 

“We had wonderful assistance from the CDI with the Jobs Fund grant to create jobs.” –  RAIN (Jobs Fund 2012-15 recipient). RAIN’s staff complement increased from 50 to 172 during the project period. Turnover increased by over 120%.




“We appreciate CDI’s mentoring and assistance. We are also thankful to the Jobs Fund. This investment has made a big difference in our business and it will go a long way.” –  Imiso (Jobs Fund 2012-15 recipient). Imiso created four new jobs. Turnover increased by over 119%.

PROUDLY SUPPORTED BY: