The Industrial Development Corporation (IDC) was established in 1940 and is a self-financing, self-sustaining, state-owned national development finance institution. The primary objectives are to contribute to the generation of balanced, sustainable economic growth in Africa and to the economic empowerment of the South African population, thereby promoting the economic prosperity of all citizens.
The IDC achieves this by promoting entrepreneurship through the building of competitive industries and enterprises based on sound business principles. Supporting industrial development capacity and promoting entrepreneurship are therefore key objectives of the IDC. The IDC funds start-up and existing businesses up to a maximum of R1 billion.
The Industrial Development Corporation (IDC)
IDC is owned by the South African government under the supervision of the Economic Development Department. The mission of the Industrial Development Corporation is to contribute to the creation of balanced, sustainable economic growth in South Africa and on the rest of the continent, and to promote entrepreneurship through the building of competitive industries and enterprises based on sound business principles.
IDC’s primary outcome is to facilitate sustainable direct and indirect employment. Its secondary outcomes are to: improve regional equity, including the development of South Africa’s rural areas, poorer provinces, and industrialisation in the rest of Africa; promote entrepreneurial development and grow the Small and Medium Enterprise (SME) sector; advance environmentally sustainable growth; grow sector diversity and increase localised production; and support the transformation of communities and development of black industrialists.
The IDC’s funding is generated through income from loan and equity investments and exits from mature investments, as well as borrowings from commercial banks, development finance institutions (DFIs) and other lenders. The IDC remains committed to promoting environmentally sustainable growth and increasing sectoral diversity to boost the local production of goods.
Industries and Sectors that will be funded by the The Industrial Development Corporation
Qualifying Criteria for the Industrial Development Corporation
At DTC we understand the complexities of the various funding agencies and the unique application criteria for each. We have assisted thousands of entrepreneurs through the application process to access funding for businesses, and we can assist you with the same.
Contact us for funding through the Industrial Development Corporation (IDC).