YTIP was created in order to accommodate young innovators who may not necessarily be directly linked to any SCs, HEIs and SMMEs. This programme is designed to assist young innovators to access risk funding, mentorship and business skills support. YTIP seeks to play the connector role in supporting the development of new technologies by the youth, which can be taken to the market to solve various social and technological challenges. In addition, it contributes to delivering on a pipeline of innovative technologies for various TIA programmes.
YTIP is targeted at youth between the ages of 18 and 30, who are currently not funded by any of the other TIA funding instruments.
The Programme uses a voucher system with the following six offerings:
- Prototype development at TIA Technology Stations and Technology Platforms;
- Intellectual Property Protection;
- Testing and Product Certification;
- Stipend per person per annum for up to four people, for use towards establishing an enterprise;
- Business coaching; and
- Incubation services for two years at an incubator recognized by TIA.
The outputs from the programme include youth-based businesses that are eligible to receive funding from other government initiatives as well as contributions towards development of a pipeline of investment opportunities.
- Be a South African or have permanent residency
- Be between the ages of 18 to 30
- Should not have received funding from TIA before
- Technology innovativeness
- Socio-economic impact
- Grant funding up to R 1 million per transaction