Organization : The Jobs Fund
Head Quarters: Apply For Jobs Fund & Track Application Status Online
Status of Facility :
Website : http://www.jobsfund.org.za/FundingCriteria.aspx
Track Status : http://www.jobsfund.org.za/ApplyTrack.aspx
Apply For Jobs Fund & Track Application Status Online :
Apply For Jobs Fund :
** The Jobs Fund creates jobs by supporting initiatives that generate employment in innovative ways.
** The Fund offers once-off grants in the areas of enterprise development, infrastructure, support for work seekers and institutional capacity building.
Related / Similar Service :
Labour Compensation Claim Status
Funding Criteria :
Innovation :
** Innovation is essential to enhancing competitiveness and growing the economy.
** The NDP in particular acknowledges the role that science and technology plays in growing the economy, tackling poverty; and driving improved standards of living.
** Innovation can entail “the implementation of a new or significantly improved product (good or service), or process, a new marketing method, or a new organisational method in business practices, workplace organisation or external relations”.
** Innovation is often misconstrued to only mean “invention”, however the spectrum of innovation is far broader than simply the development of breakthrough products or services.
How do we define Innovation?
** The Jobs Fund subscribes to the definition of innovation as a new product, process or commercially viable business model that either unlocks long term job creation, or overcomes barriers to job creation.
** The product or process does not have to be new in absolute terms, but must at least be new to a given society.
** This definition includes developments of adaptations of existing products, processes and business models for use in new applications or contexts.
** To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need.
** In summary, innovation is creating new value or capturing value in a new way which consequently leads to job creation.
How do you qualify for funding?
Applicants must :
** Have a track record of more than 3 years of experience in the industry/sector that the project falls under.
** Must be able to provide or raise the required matched funding.
** Provide evidence that the lead applicant has been actively trading/operating for the past two years.
Projects must demonstrate either :
** An innovative product/service that unlocks job creation and/or reduces the barriers to job creation
** An innovative business model
** An innovative funding model
Doing business with the Jobs Fund :
** Two stage application process (Concept Note and full Business Case Appraisal) to assess eligibility and proposed impact of the projects
** Due diligence is conducted to verify validity of proposals, targets and partner details
** Partner administration systems must support good governance and robust monitoring and evaluation must be built into project design.
** FICA compliance is essential
Apply To The Fund – Apply or Track :
** The Innovation round application process closed on 1 February 2016
** All applications for funding must be completed and submitted online.
** This streamlines the assessment process and ensures that applicants provide all the required information.
** Use the link below to register on the Jobs Fund Grant Management System (GMS) online portal.
Contact details :
Tel: 012 406 9166
Email: jobsfund AT treasury.gov.za