19 Jun Taking IDC to the youth in Youth Month
The IDC shared tips and advices on its mandate and funding philosophy, to over 800 young entrepreneurs, environmental leaders and aspirant entrepreneurs during the 6th annual Green Youth Indaba held in Pretoria last Wednesday. Supported by development funding institutions and private sector investors, one of the Indaba’s objectives is to explore and unpack necessary strategies that can create an easy access to support and funding for green innovation and the skills transfer needed to eradicate youth unemployment and poverty.
Addressing the audience, IDC’s Daniel van Vuuren said the corporation’s development funding mandate encourages it to fund businesses against the rejection downturn that businesses usually get from traditional funding institutions, “We offer finance to youth entrepreneurs, because our focus is to finance and invest in youth owned enterprises that have the ability to create and grow jobs,” he said. “In cases where the IDC does not fund an applicant, we do not simply reject them, but advise them of other funding options from our partners, where they can be eligible for funding,” he added. Young entrepreneurs from around Gauteng and Tshwane in particular, wanted to understand the IDC’s funding criteria, ease of application process, and the type of jobs that the corporation intends on helping businesses to create.
“The IDC has digitised its application process to make it easy for applicants to see the application requirements and to apply,” van Vuuren explained. Under the theme “Sustainable Development and youth unemployment eradication through green skills”, the Indaba was also addressed by other state-owned entities such as the Small Enterprises Development Agency, Department of Environment, Fishers and Forestry, Energy SETA, and the DTI.