Photo by: Reuters
Western Cape entrepreneurs have just four days before applications close to secure cash injections of at least R10-million by pitching their business ideas to major funding bodies at the Western Cape Funding Fair – the province’s own “Dragon’s Den”.
A statement on Tuesday noted that the deadline for applications was January 31.
The inaugural Western Cape Funding Fair, a joint initiative between the Western Cape Department of Economic Development and Tourism, and professional services firm Deloitte, would be held at the Cape Town International Convention Centre on March 18. The event would provide a platform for Western Cape-based bankable, sustainable, profit-seeking projects and businesses that required a minimum of R10-million in funding to connect with funders.
Economic Opportunities Minister Alan Winde encouraged local entrepreneurs to apply for the pitching sessions. “This is a great opportunity for our entrepreneurs to . . . convince investors and funders to make [significant] investments in their business, [while enabling] them to grow their businesses and employ more residents,” he said.
The top-50 qualifying entrepreneurs and project promoters would be given the opportunity to pitch their business propositions and funding requests to a panel representing major funding bodies. These sessions would be closed to the public.
Qualifying projects would be contacted by February 16 and would be invited to attend preparation workshops in early March.
The Western Cape Funding Fair comprised three elements, namely project pitches, entrepreneur-focused presentations and an exhibition.
The public could attend the topic presentations and exhibition free of charge, but were required to register through the official Western Cape Funding Fair website for access.