Sage Foundation launches $1 Million Enterprise Fund for African non-profits
Sage has today launched a $1 million enterprise fund open to non-profits from Africa. The fund according to Sage is to help nonprofits with enterprising ideas improve the lives of veterans, young people or women, and girls.
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 fulfill the eligibility criteria will be considered. However, Sage Foundation is especially keen to support organizations that are currently small but have ambitions to expand, grow and deliver sustainable change. It 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 organizations 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 mobilize 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, the Foundation has been taking action to build sustainable social, economic and entrepreneurial opportunities in Sage’s local communities around the world. It has been doing this by investing and supporting non-profit partners that are helping people reach their true potential and committed to doing business the right way.
All application details can be found on www.Sage.com/enterprisefund). 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.
Featured Image: Joanne van der Walt, Sage Foundation Manager, Africa
