Sage launches $1m fund to inspire African innovation

The Sage Foundation recently launched a $1m enterprise fund open to non-profits in Africa with enterprising ideas to help improve the lives of military veterans, young people or women and girls.

The funds will be split between two rounds of $500,000, with the second round ready for release in July 2017. Applications for the first round are open until 5 April; grants between $5,000 and $35,000 will then be awarded to successful applicants.

All applications that fulfil the eligibility criteria will be considered. However, Sage Foundation is especially keen to support organisations that are currently small but have ambitions to expand, grow and deliver sustainable change. It is also hoped that the fund will support needs such as capital projects, core running costs or new innovations.

Innovative yet practical ideas

“Sage Foundation’s Enterprise Fund is designed to help organisations generate further income, create new initiatives or enhance existing activity,” says Joanne van der Walt, Sage Foundation manager, Africa at Sage. “There are some wonderful charities across Africa who have innovative yet practical ideas about how they can solve some of the socio-economic challenges their communities face each day. We want to help them turn these exceptional ideas into reality.”

Sage Foundation’s Enterprise Fund was originally announced at Sage Summit in Chicago in July 2016, part of a series of new initiatives to mobilise Sage colleagues, partners and customers around a common vision for change. As part of 2017’s new Sage Summit Tour, Sage Foundation will be working with Sage’s network of business builders, to take action together.

The Sage Foundation is powered by the ‘2+2+2’ model. Through this, Sage Foundation donates 2% of employee time each year (five volunteer days), 2% of free cash flow in grants and two donated software licenses to eligible partners.

Click here to check if your non-profit is eligible for Sage Foundation’s Enterprise Fund.

Source: Bizcommunity

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