Sage Foundation launches $1 million Enterprise Fund to inspire innovation and change in Africa
Integrated accounting and payment systems company Sage has launched $1 million Sage Foundation’s Enterprise Fund which is open to non-profits in Africa with enterprising ideas to help improve the lives of military veterans, young people or women and girls.
Every day, across Africa inspiring non-profit leaders, volunteers and their supporters are working tirelessly to make their communities better places to live. Sage Foundation’s Enterprise Fund has been designed to support those organisations generate further income, create new initiatives or enhance existing and proven activity.
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; 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.
“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.”
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 brilliant network of business builders, to take action together.
Since January 2016, Sage Foundation has been taking action to build sustainable social, economic and entrepreneurial opportunities in Sage’s local communities around the world. By investing and supporting non-profit partners that are helping people reach their true potential, and committed to doing business the right way.
Sage Foundation is powered by the ‘2+2+2’ model. Through this, Sage Foundation donates: 2% of employee time each year (5 volunteer days), 2% of free cash flow in grants and 2 donated software licenses to eligible partners.
At the Sage Summit Tour in Johannesburg from 7-9 March this year, Sage will update delegates about how the Sage Foundation is making a difference for communities and non-profit organisations across Africa with its approach to social investment. It will also disclose how the Enterprise Fund will benefit the region’s charities.