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•  Intro  Application Process  Rules  Application Form  Application Form Part2

•  Intro  Application Process  Rules  Application Form  Application Form Part2

•  Intro  Application Process  Rules  Application Form  Application Form Part2

APPLICATION AND EVALUATION PROCESS

Submission of Application

The client submits an application to SPII via email, post or physical delivery to the IDC Head Office (19 Fredman Drive, Sandton). As soon as an application is received, an Administrator of the SPII will send a letter of acknowledgement of receipt of application to the client, informing the client that the application is being processed.

Basic Assessment

Basic Assessments (BAs) are conducted on each SPII application and a BA Checklist is completed to ensure that all the required information has been furnished and that the application meets SPII funding criteria. After completion of the BA, one of the following actions will be taken:

• If it is determined that the information provided by the applicant is inadequate, a SPII Administrator will issue a letter to the applicant requesting further information and specifying such information. The requested information, including all documents responsive to such request, should be furnished to SPII within four (4) weeks of receipt of the letter. Failure to do so within the specified time period will result in withdrawal of the application, without prejudice to the applicant re-applying for SPII funding.
• If the application is complete and the application meets SPII funding criteria, the responsible SPII Fund Manager will allocate to a consultant and a SPII Administrator will issue a letter informing the applicant of the due diligence process and the appointed consultant to conduct such due diligence.

Due Diligence

Technical consultants are appointed by SPII to conduct the due diligence on applications and submit reports to the SPII Evaluation Panel with their recommendations. This process should take a maximum of eight (8) weeks to complete. The applicant is strongly advised to cooperate with the consultant in furnishing all the required information. Failure to complete the due diligence due to inadequate information from the applicant will result in withdrawal of the application.

Report Review

Subsequent to the due diligence process, the consultants will prepare and submit reports, detailing the innovation and technical aspects of the projects as well their recommendations, to SPII Management within three (3) weeks. The reports, which are going to be submitted to the SPII Evaluation Panel for resolution, will then be reviewed by SPII Management. Projects that are highly specialised will be reviewed by specialists (consultants).

Evaluation Panel

The SPII Evaluation Panel meets once a month. The consultant presents the project and recommendations to the SPII Evaluation Panel for approval. The applicant will be informed of the outcome within one (1) week of the SPII Evaluation Panel meeting.