Sage Foundation launches $1 million Enterprise Fund to inspire innovation and change in Africa

Sage has launched its $1 million Sage Foundation 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. The Fund has been designed to support those organisations generate further income, create new initiatives or enhance existing and proven activity, the company said in a press release.

The $1 million will be split between two rounds of $500,000; with the second round ready for release in July. Applications for the first round are open until April 5; grants between $5,000 and $35,000 will then be awarded to successful applicants, the company said.

Sage Foundation said applications that fulfil the eligibility criteria will be considered, but it is especially keen to support organisations that are 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.

“There are some wonderful charities across Africa which 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,” Joanne van der Walt, Sage Foundation Manager, said in the press release.

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, the statement. 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. Sage said it will update delegates about how the 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.