Khoebo Innovation Promotion Programme (KIPP)
OBJECTIVE
Assisting local Entrepreneurs and Small to Medium Enterprises with commercialization funding, the IDC Khoebo Innovation Promotion Programme (KIPP) fund offers capital and business support to SMME’s during the early stages of commercialization with particular emphasis on Township and Rural Entrepreneurs.
A Department of Trade Industry and Competition (the dtic) programme, managed by the Industrial Development Corporation (IDC), the objective of the Khoebo Innovation Promotion Programme (KIPP) is to enable early stage innovative SME’s to penetrate the market with their locally developed innovations resulting in a more competitive economic environment and thereby facilitating economic growth in the South African Economy.
BENEFICIARIES
- Only locally developed innovations that are already fully developed and market-ready, will be considered
- Innovative products, processes, and technologies across all sectors, that have the potential of a significant developmental impact on the SA economy will be considered
- With a focus on grassroots innovators/innovations these locally developed innovations will be prioritized
BENEFITS
- The KIPP Fund is not an Incentive Scheme but rather an investment by means of equity, quasi-equity, loans, and other hybrid instruments, whichever is best suited on a case by case basis and is approached as a partnership between the KIPP and the Investee, with the aim of working closely and cooperatively with the Investee management to build long term value
- The fund will provide medium to long term funding at a low cost
- The maximum funding per transaction is currently set at R7 million
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Implementing agency
Contact details
Tel: 011 269 3000
Email: KIPP@idc.co.za
