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Black-owned tech SMEs get R10m support

Applicants will be required to complete an eight-step selection process, says Allon Raiz, CEO of Raizcorp.

Applicants will be required to complete an eight-step selection process, says Allon Raiz, CEO of Raizcorp.

The South African Communications Forum (SACF) has formed a partnership with business incubator Raizcorp to advance business skills development in small to medium enterprises (SMEs) in the South African ICT industry.

The partnership is offering R10 million worth of business development support to black-owned (51% or more) SMEs in the ICT sector.

This business growth programme will provide access to business specialists, markets, funding institutions, entrepreneurial learning and back-office support. It aims to reach a broad spectrum of SMEs in the local ICT industry and to achieve this, Raizcorp has partnered with SACF, which has a wide membership in the ICT industry, for distribution of the programme's application form.

Allon Raiz, CEO of Raizcorp, says applicants will be required to complete an eight-step selection process, which includes writing an assessment, due diligence, submitting required documents, and a panel interview. Raizcorp will review all the applications and then select 15 entrepreneurs for the business growth programme, he adds.

The SMEs will join a business growth programme, valued at R260 000 per entrepreneur, that will provide them with access to entrepreneurial learning, business guides (coaches and mentors) and specialists, he says, adding the businesses that are at the right stage and are funding-ready, will then be put in touch with funding institutions.

Raizcorp's enterprise development programme is available to SACF members and suppliers. "Most of our members are rated as level-two BEE supporters hence distribution of the Raizcorp SME enterprise development application form by SACF will enable broad access to the development programme by local SMEs," says SACF CEO, Loren Braithwaite-Kabosha.

"This is an excellent opportunity to expand the impact of SACF, and for members to contribute to the development of ICT entrepreneurs in South Africa," she adds.

Raizcorp's strategic relationship manager, Jeanne Renou, states that applications for the programme are open until the end of the year. She points out that screening and selection has already started and the programme is expected to kick off in the first quarter of 2015.

To take part in the programme, click here.

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