JumpStarter Crowd / Youth Funding in South Africa
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Black Umbrellas for Development of Entrepreneurs
In 2009, the Cyril Ramaphosa Foundation, then the Shanduka Foundation, partnered with Black Umbrellas to position the project on a national level. With a R5.2 million investment, Black Umbrellas set up and started operations in its Gauteng main office.
Cyril Ramaphosa, Chairperson of Cyril Ramaphosa Foundation, is deeply committed to the vision of Black Umbrellas as a catalyst in the development of entrepreneurs, a sector he has identified as critical to the empowerment of historically marginalised South Africans.
National Youth Development Agency (NYDA) Our Youth, Our Future
The National Youth Development Agency (NYDA) is a South African-based agency established primarily to tackle challenges that the nation’s youth are faced with. The NYDA was established by an Act of parliament, Act no 54 of 2008.
The objective of the Grant Programme is to provide young entrepreneurs an opportunity to access both the financial and non-financial business development support to establish their survivalist businesses. The programme focuses on youth entrepreneurs who are just coming into existence and beginning to display signs of future potential but are not yet fully developed. The grant finance starts from R1 000 to a maximum of R100 000 for any individual or youth co-operative.
National Empowerment Fund
NEF (growing black economic participation) anticipates future youth funding and investment requirements to help black individuals, communities and businesses achieve each element of the Codes of Good Practice. These include a focus on preferential procurement, broadening the reach of black equity ownership, transformation in management and staff and preventing the dilution of black shareholding.
Established by the National Empowerment Fund Act No 105 of 1998 (NEF Act), the National Empowerment Fund (the NEF) is a driver and thought-leader in promoting and facilitating black economic participation by providing financial and non-financial support to black empowered businesses, and by promoting a culture of savings and investment among black people.
Isivande Women’s Fund
Isivande Women’s Fund (IWF) is an exclusive fund that aims to accelerate women’s economic empowerment by providing more affordable, usable and responsive finance than is currently available. The IWF targets formally registered, 60% women-owned and/or managed enterprises that have been in existence and operating for two or more years with a loan range of R30 000 to R2 million.
The women enterprises have to meet the following criteria:
- At least 6 months in operation;
- Requires early stage, expansions and growth capital;
- 50% plus one share owned and managed by women;
- Have potential for growth and commercial sustainability; and
- Improved social impact in the form of job creation.
Technology Innovation Agency Funding Youth in South Africa
The Technology Innovation Agency (TIA) was established in terms of the TIA Act 26 of 2008, with the objective of stimulating and intensifying technological innovation in order to improve economic growth and the quality of life of all South Africans.
The mission of the Agency is to facilitate the translation of South Africa’s knowledge resource into sustainable socio-economic opportunities, with the following strategic goals: to position the Agency as a thought leader in technological innovation in South Africa; to provide South Africa with appropriate and effective support for innovation, with high social and economic impact; and to support and enhance technological innovation in Africa, and globally, through partnership initiatives.
IDC Gro-E Youth Scheme
Who should apply for funding?
- Start-up businesses, including funding for buildings, machinery, and working capital;
- Existing businesses for expansionary purposes;
- Businesses with greater than 25% ownership by persons under the age of 36;
The Industrial Development Corporation (IDC) has set-up the Gro-e-Youth Scheme to offer financial and non-financial support to youth enterprises that contribute towards the creation of jobs and growing South Africa’s economy.
The IDC has committed itself to funding youth-empowered and youth-owned enterprises to the value of R4.5 billion over 5 years. The funding is available to businesses that operate in industries that are in line with IDC’s mandate and have the potential to create jobs. The Gro-e-Youth Scheme is available to South African citizens or permanent residents and the minimum amount for finance is R1 million.
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