New R1m funding opportunities launched to boost Cape Town startups
The City of Cape Town invites local entrepreneurs with innovative products or services that can positively impact their communities and beyond to apply for Orange Corners’ Designs—a 12-month scale-up programme run by the city-funded Craft+Design Institute.
Source: Pexels
The project is targeted at local businesses that centre one or more of the UN’s 17 Sustainable Development Goals (SDGs). The SDGs include reducing poverty and growing inclusive economic growth and job opportunities.
As part of the Orange Corners Designs programme, participants will gain access to a range of resources and support, including workshops, mentorship, and business development tools.
"The city’s Integrated Development Plan aligns with the SDGs and as such, Orange Corners’ Designs is the ideal initiative for this government to support.
"The focused approach of the programme will include various support and upskilling mechanisms such as workshops, mentorship, and business development tools.
"In addition, those who are selected could also become eligible for prototyping grants and business loans of up to R1m from the Orange Corners Innovation Fund (OCIF),’ says the city’s mayoral committee member for economic growth, Alderman James Vos.
For those accepted onto the programme, the first round of funding available is R56,000 per business (subject to achieving specific milestones):
- A monthly business enabler grant to support operational costs, while you test for growth (over six to nine months)
- A further prototyping grant of up to R32,000, to test and build on key aspects or growth levers of your business
Eligibility criteria
- Entrepreneur must be a South African between the ages 18-35 years
- Business must be managed and/or run by the owner (entrepreneur)
- Business must be an existing business with demonstrable history and traction and/or provide credible market research that shows viability if proposing a new product or innovation
- Business must demonstrate innovation and/or unique proposition that contributes to the SDGs and address pressing needs or opportunities (in sectors such as but not limited to circular/green economy, digital sector, agriculture and creative sectors)
- Demonstrate the ability to scale in terms of impact and/or job creation
- Participants must be willing/able to take time off from business and commit for a period of 12 months
- Must be registered, or confirm a commitment to register, with the Companies and Intellectual Property Commission (CIPC)
- Applicants need to complete the application form in full providing the basic business information required
- Preference will be given to women entrepreneurs but all young people between 18-35 years are encouraged to apply
Applications close on Thursday, 20 February 2025. To apply, click here.