Western Cape Funding Fair calling for businesses seeking funding

The Western Cape Funding Fair, to be held next year in May, is calling for local businesses seeking funding of between R2-million and R20-million.

The initiative aims to stimulate local economic growth by connecting businesses that require funding with suitable investors, as well as to educate applicants on best practices to follow to turn ideas into bankable business plans.

A second year running, the Funding Fair is also adding a R20-million-plus category for medium and large businesses.

“The Funding Fair is a unique public and private partnership that aims to assist entrepreneurs to unlock the economic potential of our province,” said Alan Winde, the Minister of Economic Opportunities.

“Its purpose is to kickstart business initiatives across the Western Cape, providing impetus for job creation in urban and rural areas and ultimately contributing to the growth of the economy,” Winde continued, adding that the Western Cape is spearheading entrepreneurial growth in South Africa, with an average of 300 new businesses registered in the province each month.

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“By putting the right fund-seeking businesses in front of the right funders, we hope to pave the way for sustainable business growth in the province,” said Marius Alberts from Deloitte Western Cape, which is a partner of the Funding Fair.

Successful applicants will have the opportunity to attend a preparation workshop at Deloitte leading up to the Funding Fair, which will be followed by a 15-minute private pitching session with funders at the Fair 25 May 2016.

The Funding Fair will consist of various entrepreneur-focussed presentations as well as an exhibit, open for free to the public.