Funding Fair application deadline extended

Marius Alberts & Alan WindeThis year’s Western Cape Funding Fair application deadline has been extended, offering entrepreneurs from the province the opportunity to learn about getting your business investment ready, and to pitch for funding. Applicants who wish to pitch their businesses for funding at the fair, have until 24 March 2016 to apply.

The fair, a partnership between Deloitte and the provincial Department of Economic Development and Tourism, is now in its second year.  It will be held at the Cape Town International Convention Centre on 25 May 2016 and shortlisted applicants will be announced on 19 April 2016.

The initiative aims to connect businesses that require funding of between R2 million and R20 million with suitable investors, and educate applicants on best practices to follow to turn ideas into bankable business plans. However, businesses looking for funding of above R20 million may also apply.

Marius Alberts, Deloitte Western Cape said that “due diligence is often overlooked by businesses that require funding. However, this is a vital step in the application process.” This is why the fair’s shortlisted applicants will attend a workshop in May 2016 on getting a business funding-ready. The workshop will contain both theoretical and practical learning in investment selection, due diligence, intellectual property protection, valuation principles and legal closing

Minister of Economic Opportunities Alan Winde, is keen to see how such a fair contributes to job creation. “The creation of opportunities for jobs and growth is our number one goal in this province. We know that entrepreneurs are important job creators, employing around 500 000 people in the Western Cape. Our strategy is to create an enabling environment that is supportive of businesses and entrepreneurs. This is why we have prioritised initiatives such as red tape reduction and securing a reliable and affordable energy supply,” he saud.



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