Industrial Development Corporation IDC Bursary

Working in industrial field becomes a dream of many people. However, due to the rapid development of the world, job-seeking becomes more and more competitive, especially in industrial field. To increase the chance of getting accepted in your dream job, it is important to pursue higher education related to the job you wish to apply. However, higher education is quite expensive and not everyone can enjoy it. Thus, various companies and organization, from both non-government and government, offers financial supports to solve this problem. One of financial support you can try to apply is IDC bursary. IDC, or Industrial Development Corporation, is a finance institution of national development that is designed to promote industrial development and economic growth. This institution was founded in 1940 and owned by the government of South Africa, under the command of Economic Development Department.

IDC has an aim to become the main source of sustainable industrial innovation and development commercially for the sake of both South Africa and other countries in Africa. The mandate if this institution is to give contribution to the production of sustainable and balance economic growth within South Africa and other countries in the continent. IDC promotes entrepreneurship via the creation of competitive enterprises and industries according to the principles of sound business. The core values of this institution is professionalism, partnership, and passion.

As the main agency of industrial policy implementation, the activities of IDC currently focus on the NDP or National Development Plan, NGP or New Growth Path, and IPAP or Industrial Policy Action Plan. This institution determine the opportunities of sector development in line with the objectives of the policy and develop various projects in collaboration with stakeholders. IDC is able to achieve particular outcomes by developing the capacity of industry. The most significant of these efforts is to create more job vacancies through the funded companies. In addition, the funding of this institution continues to promote black industrialist, economic empowerment within the communities, and regional integration and development. This institution remains to have commitment in promoting growth that is sustainable environmentally, and enhancing the diversity of various sectors to improve the local goods production. IDC also has a significant role through the sefa subsidiary and directly, in growing the sector of SME and promoting the development of entrepreneurial sector.

The main outcomes of IDC is to facilitate sustainable indirect and direct employment. The secondary outcomes are mentioned on the list below:

  • Supporting the black industrialist development and communities’ transformation.
  • Growing the diversity of sectors and increasing localized production.
  • Advancing growth that are sustainable environmentally.
  • Promoting the development of entrepreneur sector and growing the sector of SME.
  • Improving regional equity, such as the development of poorer provinces and rural areas in South Africa, and the industrialization within the continent of Africa.

For the bursaries, only the citizens of South Africa that reside within the country and are qualified for the admission to either South African University, TVET college, or University of Technology. Bursaries are not available for private university students. Applicants from poorer provinces and rural areas are preferred. The bursary will cover meal allowance, accommodation (must be approved by university), book fees, campus accommodation and tuition. The supported fields of study are engineering and applied commercial sciences. Those are brief information regarding the overview of IDC and its bursary program for those who are interested in joining the program. The application is closed on June 30th every year. Make sure to prepare all the required documents and submit it before the deadline.