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Helping you at each Innovation stage

Many people wonder how to start a business, but it is usually as simple as just having an idea. And that is where the simplicity ends. From IP protection to project funding, the road to starting a business is a complicated one. The Innovation Fund is a government partnered organisation that aims to make successful entrepreneurship possible for all South Africans. With funding options available at each stage of the business process, anyone with a novel and value-adding idea now has a chance at success.

How to Start a Business

There are various stages that take place when you start a business and each one has its own set of challenges from acquiring funding to IP protection. Depending on which stage of the business cycle you are in, the Innovation Fund can offer you advice and funding to keep you moving.

  • I Have an Idea - The first step in starting a business is to simply have an idea.
  • I Want to Protect My Idea - IP protection is vital in the modern world. Find out how the Innovation Fund can assist you in this area.
  • I'm Building my Prototype - Many people not only have an idea, but a prototype of that idea too. This step in the business cycle should always consider patent protection.
  • Ready to Go to Market - Having an idea, a product and a business is useless unless you know how to market it.
  • Download Tools and Resources - Find out more about everything from IP protection to how to apply for funding from the Innovation Fund in this section.

Investment Instruments

The Innovation Fund's investments are made through funding instruments that are targeted at the various stages and elements of the innovation value chain and vary from IP protection to commercialisation funds. These instruments are:

  • Technology Advancement Programme (TAP) invests in late stage research and development (where proof-of-science already exists) and is open to higher education institutions, science councils, small to medium enterprises and consortia consisting of these entities.
  • Missions in Technology Programme (MiTech) invests in public-private partnership aiming to develop technological platforms that will improve the competitiveness of South African industry. The co-investments are with industry players on projects identified and driven by industry.
  • Seed Fund is an early commercialisation fund that invests in start-up activities so as to take a technology that is at the prototype stage right through the process to the market.
  • Patent Support Funds are instruments targeted at small to medium enterprises, techno-entrepreneurs and research institutions to assist them by absorbing some of the costs of IP protection through filling, patent prosecution and patent maintenance.

Find out more about starting a new business with the Innovation Fund or contact us for more information.