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Incubation programme creates 'entrepreneurs with real skills'

6 Nov 2012

Since the launch of the Incubation Support Programme (ISP) in September, the Department of Trade and Industry has received 60 applications for cost-sharing grants to help roll out small business incubation programmes. Allafrica.com reports that Minister of Trade and Industry Rob Davies said the applications would be presented shortly to the programme's adjudication committee.

Grants of up to R10m per financial year, payable bi-annually over three years, are available to organisations and companies that run incubators and incubation programmes. Answering questions from MPs in the National Assembly, Davies said that the project aims to "create entrepreneurs with real skills (and) real capacities to be involved in the productive economy of this country."

He added the ISP would also see more support from the government to small businesses. According to Allafrica.com, the programme offers a cost-sharing support of 50:50 for large businesses and a cost-sharing of 40:60 for small businesses that carry out incubation programmes.

Read the full article on allafrica.com.