the dti initiated the ISP as a grant to develop incubators into successful enterprises with the potential to revitalise communities and strengthen local and national economies. The ISP encourages partnerships in which big business assists SMMEs with skills transfer, enterprise development, supplier development and marketing opportunities.
- The objective of the programme is to encourage private-sector partnerships with Government to support incubators to develop SMMEs and nurture them into sustainable enterprises that can provide employment and contribute to economic growth;
- The programme aims to provide funding for incubators that can generate revenue through the provision of services and initiatives that can be self-sustainable;
- The ISP will be available on a cost-sharing basis between the Government and private sector partner(s). It is available for infrastructure and business development services necessary to mentor and grow enterprises to ensure that within two to three years they will graduate to a level of self-sustainability by providing products and services to the market; and
- The programme is effective from 1 September 2012 to 31 March 2022.
The following costs are eligible for support:
- Business development services (e.g. business advisory services, coaching and mentoring, training, facilitation of funding, production efficiency and improvement, quality and standards acquisition);
- Market access;
- Machinery, equipment and tools;
- Infrastructure linked to incubators (buildings, furniture);
- Feasibility studies for establishing and expanding incubators;
- Product or service development;
- Information and Communication Technology (ICT); and
- Operational costs.
The Adjudication Panel may consider for support any other costs related to the activities of the incubator.