Calling all Technology Innovators!!
Smart Xchange in partnership with the Technology Innovation Agency has made seed funding challenges a thing of the past.
Stories are often heard of people with great ideas being frustrated by the lack of financial resources which becomes a barrier to their dreams becoming a reality. The Smart Xchange Incubator, in response to this challenge, therefore invites qualifying projects to submit proposals to the Smart Xchange TIA Innovation SEED Fund Programme for Media; Information Communication Technology & Electronics (MICTe) Innovations. Th fund is focused on applied research that will lead to the creation of products, processes and/or series that can commercialize and advance the South African MICTe agenda.
The fund is aimed at assisting technology based SMME’s in bridging financing requirements to take their innovative ideas to market.
To qualify for this fund, applications must meet the following criteria:
Be an entrepreneur or SMME based in KZN
The technology or business must be at a pre-revenue stage
There is a clear market need and technology is commercially viable
The technology is innovative and will result in competitive IP position for the business
Does not qualify for funding from traditional banks or other funding agencies
Funding for pre-determined seed fund activities that are listed in the application template will only be considered
The funding for innovation projects is provided as a grant, with a minimum investment of R50 000(fifty thousand rands) and a maximum of R650 000 (six hundred and fifty thousand rands) per innovation opportunity. Successful projects must demonstrate the intent to further develope or commercialize the technology.
All applications are to be emailed to email@example.com. Application forms can be obtained from www.smartxchange.co.za and questions can be directed to Abegail Ndlovu by email or by phone om 031 307 1988.
Call for innovations closes on 15 MARCH 2019