Risk Funding Schemes

TIA offers three risk funding schemes aimed at directly financing technology development projects with commercial potential.

The access points to the funding schemes are differentiated based on a combination of the amount of funding the applicant requires for technology development, the stage of technology development as defined by the technology readiness level (TRL) and whether the applicant’s funding request aligns with the purpose of the TIA funding schemes.

Seed Fund - To assist researchers from higher education institutions, science councils, technology entrepreneurs and SMMEs to advance their research outputs and ideas for proof of concept, development of prototypes and business cases that could be used for further development.

Technology Development Fund - To assist innovators to advance technologies along the innovation value chain, from proof of concept to technology demonstration.

Commercialisation Support Fund - To prepare innovators for follow-on funding, through limited support for market testing and validation. In this instance, TIA’s role is to connect technology innovators to onward business and investment opportunities.

What we Fund

TIA will provide funding for ideas developed from any sector of the economy where:

• there exists innovative technology-based ideas for either new or improved products, processes or services;
• technologies are developed from proof of concept (TRL3) to pre-commercialisation demonstration (TRL7);
• technologies require facilitation for commercialisation at (TRL8);
• inbound technologies can be further improved, developed and exploited by South Africans themselves or in collaboration with international partners. Further technology development work must be performed in South Africa and in compliance with the Intellectual Property from Publicly Financed Research and Development Act 2008 (Act no 51 of 2008);
• there is an opportunity for the promotion and development of capacity to reduce barriers to technological innovation in South Africa through the Technology Stations and Technology Platforms Programmes.

Assessment criteria

The assessment criteria for all applications will consider the following, among others:

• the innovativeness of the technology and/or envisaged product/process/service;
• the current stage of technology development;
• the planned path of innovation;
• the feasibility and viability of the technology being developed;
• the attractiveness of the product or service in the targeted market;
• the viability of the business model;
• the competence, capability and readiness of the team or entity to commercialise the opportunity;
• alignment with TIA strategy and national policy objectives;
• the availability of funds.

Use of Funds

The application of TIA funding is for the sole purpose of achieving the objectives of the project investment and in line with the Guideline on Allowable Costs [Add link to Allowable Costs Document].

Notwithstanding any legal recourse that TIA may have, funding disbursed by TIA is required to be repaid immediately in full, with interest, on discovery of fraudulent or unauthorised use of funding, fraudulent non-disclosure or any other material dishonesty on the part of the recipient, its members, shareholders, employees or other persons acting on its behalf.

Restrictions

Recipients of TIA funds may not encumber, assign or cede the rights, title or interest in the intellectual property without the prior written approval of TIA.

The following will be restricted from applying to TIA for financial assistance:

• Any business where trade is forbidden by law (e.g. recreational drugs or sex trade);
• Any religious organisation;
• Any political organisation;
• Any business having directors and/or shareholders who are in contravention of any provisions of the Companies Act (Act No 71 of 2008);
• Restricted suppliers and tender defaulters on National Treasury’s list;
• Any business not in good standing with the South African Revenue Service;
• Parties that have previously misused and/or defrauded TIA, and where applicable other related government departments and agencies; and
• Applicants seeking funding for co-funding where another government agency has undertaken the same project costs (double dipping).

How to apply for Funding

Eligibility

Who is eligible?

• Science Councils and Higher Education Institutions
• Start-up companies
• Small, medium and micro-sized enterprises
• Large companies participating within the Innovation Support Programmes.

Minimum requirements

Applicants other than Science Councils and Higher Education Institutions applying for financial assistance from TIA must fulfil the following requirements:

• Applicants must be South African citizens with valid South African identity documents or legal entities registered with CIPC;
• Applicants must have the necessary contractual capacity to engage with TIA;
• All primary business operations, including but not limited to projects / programmes / enterprises, must be operated within South Africa and be registered with the CIPC;
• Applicants must meet the dti’s Localisation Framework requirements of a minimum of 20% equity ownership by a South African entity and B-BBEE requirements as per the B-BBEE Act.
• The enterprise must be compliant with generally accepted corporate governance practices appropriate to the client’s legal status; and
• For foreign owned IP, the IP should be licensed or assigned to a South African institution such as a university, science council or a legal entity registered with CIPC.

Apply online

Refer to the Manual for instructions on how to apply for funding

Should you still require assistance you can contact our Help Desk

Source: http://www.tia.org.za