Call for Proposals: Bioindustries Funding
Programme Context
The Innovation Hub Management Company (TIHMC) has established the Start-Up Support Programme (SSP) aimed at increasing access to finance for innovative, knowledge-based small businesses (SMMEs) and projects. TIHMC has partnered with the Department of Science and Innovation (DSI) through their Strategic Industrial Bio-innovation Partnership (SIIP) Programme, which serves as a national coordinating, implementing and investment instrument to drive research, development, and innovation priorities in support of the growth of the industrial and environmental sectors of the Bioeconomy.
Funding Details
The funding ranges from a minimum of R51,000 up to R300,000 per yearly project. Applicants must clearly articulate their total funding needs for the next three years, including any Year 1 requirements exceeding R300,000. The funding is specifically for SMME support, product development and demonstrations.
Focus Areas
Funding is available under the following Research, Development, and Innovation Programmes:
- Bioconversion and manufacturing
- Industrial Biocatalysis
- Bioremediation technologies
- Microbial bioprospecting
- Biorefineries
Eligibility Requirements
This phase of funding is limited to:
- Companies currently incubated at TIHMC
- Companies interested in being part of TIHMC's incubation programme
Investment Criteria
The overriding investment criteria includes, but is not limited to:
- Innovation and/or knowledge-based business (Bioeconomy/Bioindustries)
- Job creation with demonstrable potential to result in the creation of good quality jobs
- Proof of concept demonstrated, or proof of concept will be demonstrated with funding provided (TRL3)
- A duly registered entity
- Economic growth and national benefit - the extent to which the business will contribute to economic growth and socio-economic development must be detailed
- Commercial potential - market appetite or sufficient evidence of market potential
- Defendable and demonstrable competitive advantage and/or intellectual property position and potential
- Project team profile- the team's ability to successfully implement the project must be demonstrated
- Applications from women, youth and people with disabilities are encouraged
Fundable Activities
The fundable activities include but are not limited to:
- Initial proof of concept (the concept must be available at TRL 3)
- IP Support (Patent Protection, Sourcing of IP opinions)
- Production of market samples and/or associated testing
- Conducting field studies to test assumptions made about the technology, market and/or customer need
- Refining and implementing designs
- Support of certification activities
- Piloting outputs and technology scale-up and techno-economic evaluation to TRL 8
- Detailed primary market research
- Business Plan Development
Application Requirements
Proposals must include at minimum:
- Description of the business: clear articulation of the value proposition, problem statement, and how the business addresses the gap compared to current options
- Novelty of the Project: description of what makes the product/offering unique compared to existing market options
- Market Analysis: information on market size, competitors, target market/beneficiaries, barriers to entry, penetration, and market development strategy
- Details of Market and Buyers/Beneficiaries: information on target customers and any off-take agreements
- Budget: detailed budget breakdown including other sources of funding, with 3-year cash flow projections showing income and expenditure
- Details of the team: demonstration of the team's ability to carry out the project and commercialize the innovation
- Contact Information: names, emails, telephone numbers, postal address
Adjudication Process
Applications will be adjudicated based on merit, with particular emphasis on the SSP's investment criteria. Applications should demonstrate compatibility with the goals of the SSP, both in terms of developmental impact and from a financial strength and growth perspective. SSP processes take up to at least 3 months.
Important Notes
- No late or incomplete applications will be considered under any circumstances
- TIHMC reserves the right to accept any application that meets the SSP mandate
- Further correspondence will only be made with shortlisted applicants
Click HERE for the official proposal document.