How To Apply For Funding For Small Business Startups At The PIC?

4
Startup funding
Startup funding. soi7studio / Shutterstock.com

We have received several queries from readers on how to apply for funding for small business startups at the Public Investment Corporation (PIC), the state-owned pension fund manager?

Last December, the South African government launched a R2 billion fund to help small business start-ups that are geared towards creating employment opportunities and contribute to the growth and development of the economy.

The Project Development Partnership Fund (PDP) has been established through a joint venture between the Public Investment Corporation (PIC) and Unemployment Insurance Fund (UIF) – an entity of the Department of Labour.

For more read: SA Government Launches R2 Billion Fund For Small Business Startups

The PDP Fund will focus on funding early stage, investable projects, opportunities or innovations in key and targeted economic sectors. These include:
  • Agribusiness and Bioscience;
  • Mining and Beneficiation;
  • Energy and Related sectors;
  • Manufacturing;
  • Information Communication Technologies;
  • Social Infrastructure;
  • Water and Waste; and
  • Financial and Related services.

We have generated from PIC website focusing on PDP a quick guide on how to apply for these funds:

How do I apply for funds?

Applicants can send through a brief summary outlining the business opportunity and complete the attached form. Incomplete submissions will not be considered.

Where do I send through my application?

Applications can be sent to PDP@pic.gov.za.

What is the maximum amount of funding one can get?

Minimum funding being R5 million and a maximum of R100 million.

What kind of business is the PDP Fund looking to fund?

Innovative companies that have delivered proof of concept (post idea phase), financially sustainable, solving a socio-economic challenge and having a potential to grow whilst creating employment.

Please click here for the application form.

A strong focus of the fund will be to drive woman and youth-led entrepreneurs.

The PDP Fund, an Impact Investing Fund, seeks to invest directly into the economy to contribute to South Africa’s socio-economic objectives, such as job creation, inclusive growth and transformation; whilst generating financial returns.

Projects that meet the Fund mandate, whilst being innovative, aligned to the PIC sectoral strategies and contributes to alleviating socio-economic challenges, will be considered for funding.

Advertisements

4 COMMENTS

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.