The Department of Trade and Industry (dti) introduced the Innovation Support for Electronics Scheme (ISE) in October 1989 to promote the local design and manufacture of innovative electronic products. Due to the need to offer a wider support structure, this programme was replaced by the Support Programme for Industrial Innovation (SPII) on April 1st 1993. The Industrial Development Corporation of South Africa Limited (IDC), on behalf of the dti, manages the programme.
The SPII is designed to promote and assist technology development in South African industry through the provision of financial assistance for projects that develop innovative products and/or processes. The SPII is focussed specifically on the phase that begins at the conclusion of basic research (at the stage of proof of concept) and ends at the point where a pre-production prototype has been produced.
On the last day of the VeloCITI bridging course Dr Areef Suleman presented the VeloCITI business acceleration group with mor einformation about SPII and how it could benefit your business…
Financial assistance is provided for small, very small and micro enterprises (employees <50; turnover
25%Ã¢â€°Â¤50% black shareholding – the grant amount is 75%, and for enterprises with black shareholding >50% – the grant amount is 85%.
SPII have a R100million budget to support Industrial Innovation anually, have you heard about spii before? Unlikely, why? According to Dr Suleman, he blames the attitudes/mindset of those companies most likely to benfit from spii. They do not tell others about spii because they fear that there will not be anough to go around. Cmon people, sharing is caring. This is a grant, they do not want anything in return so they will not be asking for a percentage of your company. If you’re reading this, know about spii and have not told anyone else that could benefit from the Support Program for Industrial Innovation, shame on you. The more quality applications spii receive the more eveyone will benefit.
Money for Innovative Jam. Interested? Read more about spii… The 15 companies that will be participating in the VeloCITI business acceleration program will be revealed on Monday. Hou duim vas.