Much can be achieved with the right combination of skills between funder and entrepreneur, says Christo Fourie, head of Industrial Development Corporation’s (IDC) Venture Capital Strategic Business Unit (SBU).
After a flurry of activity in the late nineties, the venture capital industry suffered massive decline after the tech crash. Even though it has since seen some recovery, there remains a gap in the funding of unproven technologies.
The IDC’s Venture Capital SBU was established in 2007 to help bridge that gap and has a portfolio of twenty-one companies across different industries.
36 EDGE | November 2011
Having allocated the SBU R250 million to invest over a five year period, the IDC surpassed their original target when the SBU invested the total amount in less than four years. Last year it allocated another R500 million for investment in promising start-ups over the next five years.
While private venture capital funds tend to invest in young companies with proven technologies and
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