INNOVATION SUPPORT FUND 2024

what is the innovation support fund ?

The Innovation Support Fund is a prototype and testing fund developed by Innovate Durban in 2019/2020. The fund is open to all innovators, applications from women and people with disabilities are encouraged. Innovate Durban has also worked on enabling the ecosystem with technical and business support and funding partners to increase your success rate to prototype and offer holistic support to your innovation.

MINIMUM REQUIREMENTS 

Meeting the minimum requirements does not guarantee funding being awarded.

 

  • Proof of Concept: Applicants should have a well-defined proof of concept for their idea or technology
  • Market Analysis: Applicants should have conducted some level of market analysis to assess the viability and potential demand for their idea or technology.
  • Scalability and Impact Potential: Applicants should demonstrate the scalability and potential impact of their idea or technology.
  • Intellectual Property Protection: Having Intellectual Property Protection is an added advantage
18 November 2024
Close of Applications
Call out is now closed.
18 November 2024
18 Novemeber - 6 December 2024
Adjudication of Applications
The Innovation Committee goes through each application looking at the viability of each application.  
18 Novemeber - 6 December 2024
13 December 2024
Successful Applicants Notified
Applicants are contacted and notified of the next steps.
13 December 2024
17 January 2025
Disbursement of Funds
Applicants are called in to sign agreements.
17 January 2025

We reserve the right to modify, amend, or change the criteria at any time without prior notice. Such changes will take effect immediately unless otherwise specified.

oTHER FUNDING OPPORTUNITIES

FUNDING MAP ​

In partnership with Human Scientific and Research Council and local innovators, the Funding Map was developed to map out various funding mechanisms available to support innovators across the country. It identifies the gaps and highlights where funding exists and how innovators can access funding. It also mapped out various funding mechanisms available to support innovators across the country.