South Africa plans to establish 250 new incubators
South Africa is getting ready to set up a program to encourage private sector / government partnerships to establish new small business incubators. On Sunday (Sept. 16) Trade and Industry Minister Rob Davies will launch the Incubation Support Programme (ISP) targeted at small, medium and micro enterprises.
"This is one of the best platforms that a country can use to promote broader economic participation, uplift the country's entrepreneurial base and encourage start-up activities," said Davies (pictured here).
The program starts immediately and South Africa intends for it to continue until March 2022. The support the incubators will receive can be used for infrastructure and business development services necessary to mentor and grow enterprises. The government support will be on a cost-sharing basis, specifically 50:50 for large businesses and 40:60 for small micro and medium enterprises.
The government plans to establish 250 new incubators by 2015. Applications can start on 1 October 2012.
For more information, see: http://www.sanews.gov.za/news/12/12091409351001