Integrated accounting, payroll & HR, and payment systems service provider Sage has launched a $1 million fund to finance enterprising ideas from non-profits working for development and social change.
The new $1 million fund is open to non-profit organisations in Africa with enterprising ideas on how to help improve the lives of young people, women and girls. The fund will support these organisations generate further income, create new initiatives or enhance existing and proven activity.
Sage Foundation was established in January 2016, The and Enterprise Fund came soon after, announced at Sage Summit in Chicago in July of the same year as part of a series of new initiatives to mobilise the company's resources around a common vision for change.
The Foundation aims to harness Sage's resources towards building sustainable social, economic and entrepreneurial opportunities around the world, investing and supporting non-profit partners that are helping people reach their true potential, and are committed to doing business the right way.
The new fund announcement comes ahead of the 2017 Sage Summit Tour that will take place in Johannesburg from 7-9 March this year, where the Sage Foundation will showcase how it is making a difference for communities and non-profit organisations across Africa with its approach to social investment, as well as how the Enterprise Fund will benefit the region’s charities.
The $1 million 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 April 5, and grants of between $5,000 and $35,000 will then be awarded to successful applicants.
While all the applications that fulfil the eligibility criteria will be considered, particular focus will be directed towards organisations that are currently small but have ambitions to expand, grow and deliver sustainable change. The Sage Foundation also hopes that the fund will support needs such as; capital projects, core running costs or new innovations.
“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 has 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.”
Find out if your non-profit is eligible for Sage Foundation’s Enterprise Fund here.