The Technology Innovation Agency (TIA) was established in terms of the TIA Act 26 of 2008, with the objective of stimulating and intensifying technological innovation in order to improve economic growth and the quality of life of all South Africans.
Lending criteria: The NEF provides business loans from R250 000 to R75-million across all industry sectors, for startups, expansion, and equity acquisition purposes.
Priority sectors: Focus areas include health, agriculture, bio-economy, natural resources, energy, ICT, and manufacturing.
Funds:
- The Seed Fund grant is non-repayable and is provided to support projects run within a higher education institution (a level of outsourcing to third-party suppliers is permitted) or to spin-off companies that are based on IP emanating from this institution.
- The Technology Development Fund provides funding to advance technologies from proof of concept to technology demonstration.
- The Pre-Commercialisation Support Fund assists existing or potential individual entrepreneurs and Small Micro and Medium Enterprises to obtain funding to support pre-commercialization activities including the development of production/service capacity to levels that will support operational sustainability.