IDC supports new

IDC supports new

In a radical bid to boost the economy and produce

the thousands of jobs the country needs, the Industrial Development Corporation (IDC)

plans to support and set up new business sectors, some of them from scratch IDC supports new.

Through a division called New Industries that it set up earlier this year, the IDC plans to help get new sectors off the ground IDC supports new

by intervening to build up their respective supply chains, addressing key constraints that hold them back and forging partnerships.

The new division is the result of an IDC-wide restructuring exercise that the Department of Economic

Development urged the organisation to carry out recently in a bid to exact greater impact from the organisation.

 Under Christo Fourie, the former head of the organisation’s Venture Capital Business Strategic Unit, the new division initially developed a list of 18 prospective new industries to support.

This list was presented to the IDC’s executive recently,

and seven of those listed have been selected for prioritisation.

These are gas beneficiation, renewable energy inputs for solar and photovoltaic, additive manufacturing technology (including 3D printing), indigenous biodiversity, energy storage, fuel cells and medical devices.

Fourie said in deciding which sectors to back, the IDC would consider the attractiveness of each and what competitive advantage South Africa held in each of these.

The funder would consider not only each sector’s ability to generate financial returns but also what development outcomes each held,

such as the ability to create jobs, their environmental impact and the ability to generate localisation demands.

The IDC would then conduct a value-chain analysis of each new sector selected.

The assessment would contain what inputs, infrastructure, part of the regulatory environment,

parts of the supply chain and players are missing or need additional support to ensure that the new industry can take off.

Following the assessment, the IDC will engage with the private sector,

relevant government departments and agencies to address these constraints in each sector.

For more information: ฮานอยพัฒนา

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