Gauteng Funding Fair to select best entrepreneurial projects in the province
Gauteng Provincial Government and Deloitte initiative to support growth in SA’s economic hub.
The inaugural Gauteng Funding Fair got underway today, 25 March at Emperors Palace, Ekurhuleni, and forms part of a two-day effort to boost the provincial government’s aim of helping to create entrepreneurs and stimulate economic development.
“Having undertaken the rigorous selection of project promoters, and a host of funders committed to attending the fair, we are set to stimulate robust and fruitful conversations between funders and project promoters,” says Mandla Nkomfe, MEC for Finance in Gauteng.
Following the submission of their project plans up to the first week of February, a total of 50 applicants have been shortlisted. They now have an opportunity to meet potential funders in a 15 minute presentation. According to the organisers, projects that have been selected fall into the manufacturing, construction and energy and resources sectors, an indication of the business innovation in the province.
The inaugural of the three fairs, the corporate fair, focuses on projects seeking funding in excess of R20 million. The dates for the SMME and Infrastructure Fairs will be announced later on in the year.
The Gauteng Funding Fair is a partnership between professional services firm Deloitte and the Gauteng Provincial Government and is aimed at facilitating face-to-face contact between project promoters, entrepreneurs and business development bodies, venture capital and private equity investors as well as debt funders.
The event aims to educate and empower project promoters and entrepreneurs on the holistic approach and process to follow in turning ideas into bankable business plans that have a higher probability of attracting the right type of funding and investment whilst simultaneously providing a pre-screened pool of projects for potential funders seeking bankable projects to fund.
In helping to achieve this, there will be panel discussions to discuss challenges that entrepreneurs face such as capital structuring and developing a bankable business plan. There will also be an update on taxation and government incentives and the revised B-BBEE Codes of Good Practice.
“The staging of the Gauteng Funding Fair is very important for the growth of Gauteng province as the economic hub of Africa,” says Gaba Tabane who serves as Consulting Public Sector Industry Leader at Deloitte. Tabane notes that following its establishment in KwaZulu-Natal and now Gauteng, the aim is to eventually spread the event to all provinces.
The Funding Fair is a two-day event open to the general public and will include project pitches for the successful pre-selected projects, panel discussions, topical presentations as well as interactive exhibitions.
For aspiring project promoters who may not have been shortlisted, the fair allows an opportunity to hear first-hand what funders are looking for, pick up tips on what a successful project pitch entails and even start conversations with funders, which may in time, lead to a successful funding partnership.
Government funding bodies, including the Gauteng Enterprise Propeller, will be represented at the fair. The Department of Trade and Industry will also be present and will showcase its incentives packages.
Experts from Deloitte will be offering advice on areas that range from tax and auditing to project finance and advisory services.
Contact:
Thami Mthembu
Magna Carta (PR)
Tel: +27(0) 11 784-2598
E-mail: thami@magna-carta.co.za
John Sukazi
Head of Marketing and Communication
Gauteng Provincial Treasury
Tel: +27837724885
E-mail: john.sukazi@gauteng.gov.za
Kerry Naidoo
Senior Manager: Communication
Deloitte & Touche
Tel: +27 (0)11 209 8630
E-mail: kenaidoo@deloitte.co.za
