The SAB Foundation has pledged R1.5 million ($119,000) to the Bertha Centre for Social Innovation and Entrepreneurship at the University of Cape Town (UCT) Graduate School of Business (GSB), which will be invested in student-run social innovations.
The fund is open to social entrepreneurs registered at the University of Cape Town. This year the Student Fund will be awarding up to R20 000 to students who have ideas and up to R100 000 to students who have new social ventures and can show clear budget/financial projections.
The latest donation follows an initial grant of R1 million from the SAB Foundation in 2015, which the Bertha Centre managed and allocated to 26 early stage student ventures. The fund has supported new innovations within various sectors, including educational technology, financial inclusion, township economy revitalisation, last-mile product and service delivery, and agro-processing.
“We are incredibly excited about the opportunities this new funding presents to growing and encouraging the student community to take responsibility for solving social problems through innovative business models,” Bertha Centre project manager Bakang Moetse.
“We believe that social entrepreneurship and innovation hold the keys to South Africa’s development, and we hope that other institutions around the country will join us on this journey.
The fund is open for applications until 24 June.
