Amazon Web Services (AWS) has launched an equity-equivalent investment programme (EEIP) to help more South African businesses to innovate in the information and communication technology (ICT) sector.

The AWS EEIP will result in the investment of more than R365-million in the development of sustainable, 100% black-owned small businesses within the ICT sector and support them in becoming cloud computing experts using the AWS Partner Network (APN).

The initiative is designed by AWS South Africa and Amazon Data Services South Africa, based on the EEIP of the Department of Trade, Industry and Competition.

The seven-year AWS EEIP will assist small businesses in developing advanced technology skills in the areas of cloud computing, the Internet of Things, machine learning and mobile technologies, besides others.

The enterprise development and incubation programme will last 18 to 24 months, equipping them with the knowledge, resources and skills to be successful, says AWS South Africa director Prabashni Naidoo.

This will enable small businesses to take advantage of cloud computing and other digital technologies in order to innovate and grow, while unlocking an opportunity to provide professional services for organisations in both the private and public sectors.

The businesses will also receive business enablement support, such as exposure to industry leaders, coaching, mentorship and funding to help take their business to the next stage of growth.

“The AWS EEIP will lead to the development of numerous highly skilled jobs in the local economy,” says Trade, Industry and Competition Minister Ebrahim Patel.

The training and technical education will result in the creation of new AWS certified developers and solutions architects and new APN partners and, as these businesses complete their training and gain AWS competences, they will go up a tier in the APN, becoming select or advanced partners.