Applications open for the TIA x Savant Seed Fund.

Savant, a technological incubator and venture capital firm, and the Technological Innovation Agency (TIA) last week opened up applications for the latest round of the TIA x Savant Seed Fund.

The Venture Capital firm stated that it has been a TIA partner since 2017, helping to fund and nurture South Africa's most promising early-stage tech ventures.

"Over the past 8 years, we've walked the journey with dozens of deep tech founders - from first prototypes to market-ready products," Savant said in a statement.

The Pre-Seed Fund focusses on early-stage technology development projects such as proof-of-concept studies, prototype creation, and market research.

Its goal is to ensure that inventors achieve technical feasibility for their technologies or innovations, which are currently at the TRL3 or TRL4 stage.

Savant stated that the permissible sum per application for this call is R800,000 including VAT, with a maximum term of 12 to 18 months.

TRL 3 demotes the "critical function or proof of concept established" stage, whereas TRL 4 represents the "lab testing/validation of alpha prototype" stage in technology development.

Savant added: "The Seed Fund is open to applicants who have previously completed a pre-seed funding project and are seeking follow on funding for their technology or innovation to achieve a minimum viable product ready for piloting and market testing with clear regulatory pathway and route to market."

It went on to state that this grant is appropriate for technologies or developments that fall between TRL 5 and TRL 6.

The maximum allowable amount per application for this call is R1,200,000, including VAT, over a period of 12 to 24 months.