The grant is calculated on a scale method that can be explained as follows:

The grant is payable over 3 years for projects up to R5 million and 2 years for projects larger than R5 million.

All applications must comply with the following requirements:

• - The project must be a legal registered entity.
• - Must be a tax payer.
• - The project MUST apply for and receive approval BEFORE any equipment can be bought.
• - The project may acquire land before approval but under no cirumstances start construction of any buildings.
• - Minimum BBBEE level 4 (Any business with a turnover of less than R5-million is defined as a micro enterprise and automatically qualifies as a Level 4 contributor.)

Additional requirements: Projects up to R5 million (New Projects):

• - Businessplan
• - Financial projections for 5 years (Income, Balance and Cash flow)
• - The finance structure of the project.
• - The projects wil also be evaluated on its BBBEE score, area where situated and employees.

Additional requirements: Projects with investments from R5 million to a max of R200 million (New projects):

• - These projects has additional evaluation criteria that include the BBBEE score, manufacturing sectors and the Industrial Development Zones (IDZ's) in which it is situated.

INCENTIVE CONSULTANTS ASSOCIATION (ICA)
VERSATEX-INVESCO is proud to be a founder member of the ICA that was formed on July 12th, 2005. The ICA was formed in order to regulate the interaction between the Government and Consultants who provide services in the investment incentive field.