Support Programme for Industrial Innovation
The Support Programme for Industrial Innovation is designed to promote technology development in South Africa’s industry, through the provision of financial assistance for the development of innovative products and/or processes. The Support Programme for Industrial Innovation is focused specifically on the development phase, which begins at the conclusion of basic research and ends at the point when a pre-production prototype has been produced.
The Support Programme for Industrial Innovation is made up of three different schemes:
• The first being the Product Process Development scheme, which provide financial assistance to small, very small and micro enterprises and allows for a maximum grant of R2 million for cost incurred in precompetitive development activities.
• The second scheme and probably the most accessed scheme of the three is the Matching Scheme. The maximum grant is R5 million and is based on a percentage of development cost incurred. Depending on BEE ownership the grant starts at 50% of qualifying development cost incurred and increases to 75% if BEE ownership is more than 50%. The grant from the Matching Scheme is not repayable.
• The last scheme is the Partnership Scheme which has a R10 million limit. However, the grant in this scheme is repayable over a fixed period based on a percentage of the project. The repayment period will be agreed up front. The percentage contribution is 50% of qualifying development cost incurred.
The SPII offers two schemes namely, the:
- SPII Product Process Development (PPD) Scheme; and
- SPII Matching Scheme.
Criteria for SPII Support:
- Development should represent significant advance in technology;
- Development and subsequent production must take place within South Africa;
- Intellectual Property to reside in South African registered company;
- Participating businesses should (must) be South African registered enterprises;
- Government funded institutions (e.g. CSIR) do not directly qualify for support but may participate as subcontractor(s) and;
- No simultaneous applications from the same company
Should you be interested in applying for the business grant, Dream Team Capital can assist you. Contact us today for professional assistance in streamlining your application for the The Support Programme for Industrial Innovation.