UCT innovators invited to pitch for seed funding

The Bertha Centre for Social Innovation and Entrepreneurship is offering seed funding for budding UCT social entrepreneurs and innovators with ideas for tackling social or environmental problems in low-income communities.

The Bertha Centre for Social Innovation and Entrepreneurship, a specialised unit at the UCT Graduate School of Business (GSB), with support from the SAB Foundation has set up a fund that allows student social entrepreneurs to access seed funding to tackle challenges specifically faced in low-income communities. The project, which is called the SABF Seed Fund, will make funding available to successful applicants with innovative ideas that need to be developed further.

One of the startup funding awardees for 2015 was Lakheni, which was founded by UCT GSB students Lauren Drake and Nokwethu Khojane. Lakheni harnesses the aggregated buying power of low-income communities in order to give them access to discounted staple food, while developing micro retail enterprises (spazas) and supporting local Early Childhood Development Centres (crèches). The enterprise will do this through the use of a mobile group-buying platform, which builds its success on the existing social capital linked to crèches within communities.

Applications for SABF seed funding can be made in two categories: Pre-Startup and Startup.

• In the Pre-Startup category, the fund is looking for students who have researched and developed an innovative idea but require cash for further development. Typically, their solution will need validation and further work on a business model. Funds available in this category are up to a maximum of R10 000.
• In the Startup category, the fund is looking for students and recent students (who have graduated within the last two years) who have made significant steps towards product development for an idea. They will have to demonstrate that they have a clear business model that is repeatable and scalable. Funds available in this category are up to a maximum of R50 000.

There will be three funding windows this year, and the deadline for the current window is Sunday, 13 March 2016.

Please contact tsakane.ngoepe@gsb.uct.ac.za to answer any questions you may have.