The Industrial Development Corporation managed (on behalf of the Department of Trade and Industry) the Regional Industrial Development Strategy (RIDS) fund. The RIDS objectives include restructuring spatial disparity; ensuring growth in industrial poles are catalytic; creating partnerships in order to promote regionally-based economic development strategies in a systematic and formalised manner; and creating convergence in investment and development planning between different local stakeholders. We evaluated 18 of the RIDS funded projects using an impact framework and also examined the fund administration mechanisms to identify opportunities for improving fund management and impacts.