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I'm Building my Prototype!

Many of us have excellent ideas and have even taken these ideas through to the technology development phase and built a prototype. This is usually where the problems arise as lack of project funding prevents these prototypes from being developed into marketable commodities. This is where the Innovation Fund steps in and can help you take your ideas forward.

The Right Project Funding from the Innovation Fund.

The Technology Advancement Programme (TAP) is the primary funding instrument of the Innovation Fund and is ideal for those looking to finance technology development of an idea. This instrument aims to fund proof-of-science to proof-of-concept research and development carried out by start-up companies, small to medium enterprises, higher education institute and science councils or a consortium of these entities. TAP serves to feed the Seed Fund with commercialisation opportunities from Intellectual Property created or developed during the TAP projects.

What About Intellectual Property Due Diligence?

Simply because you have an idea and a prototype does not mean that you are automatically guaranteed project funding from the Innovation Fund. The Innovation Fund is committed to supporting technology development that will assist in business growth for the benefit of all South Africans. For this reason, project funding is granted to those ideas and prototypes that are considered novel, inventive and value-adding. The correct Intellectual Property due diligence is carried out on all prospective project funding applicants, ensuring not only the legitimacy of the applicant and idea, but also the value that such technology development would add to our country.

Find out more about how the Innovation Fund can help you with your invention patents.