Sponsoring Agency: Barloworld
Type of Fund: Seed Money
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 05/14/2021
Size of the Fund: Not Available
Applicants are invited to apply for the Barloworld Mbewu programme to provide seed funding, access to finance and incubation to social enterprises for the next three years. The incubation entails training and mentorship, elements that will give you, the Social Entrepreneur, the much- needed support to grow and scale your business for greater social impact.
The Barloworld Mbewu programme will individually assess the needs of the applying social enterprise and the individual stage and development of the enterprise is taken into account. Support is tailored to each social enterprises' individual stage of business and its readiness to scale.
How Long Does the Programme Run for?
The Barloworld Mbewu incubation will be tailored to the social enterprise stage of development and starts with committed incubation for at least 12 months. At Barloworld, they believe that the social enterprise, the entrepreneur and environment (which includes beneficiaries of product and service) must work hand in hand and that an enabling ecosystem remains our biggest opportunity
The successful applicant will enter into a relationship with Barloworld and will be supported through the targeted interventions:
• Tailor made capacity building and business incubation support specifically designed for the social enterprise
• Funding based on the enterprise ability to scale up their positive impact on communities
• Facilitated access to additional support from our strategic partners
• Current employees of Barloworld and its affiliates are not eligible for participation.
• Political organisations, political groups, or organisations or officials related to any politician, to the campaign of any candidate for elected office or in support of any elected official, either directly or indirectly through a third party, will not be eligible for participation.
• Organisations and projects with a history of mismanagement of funds or whose grants have been suspended due to mismanagement of funds or maladministration are not eligible for participation.
• If your business’s sole operations are alcohol-related i.e. tavern, shebeen, bottle store or pub, you will not be eligible for participation.
• If your business or project’s primary operations are sex, gaming, gambling, tobacco or illegal activities, it will not be eligible for participation.
• If your business or project is a franchise: you are a franchisor or franchisee etc. you may not enter the programme.
• If the project requires sponsorship for an event, a launch, a conference, a forum, a seminar, a party or a fundraising function, or land and building acquisitions, it may not enter.
• If you require a bursary, a scholarship, an internship, or funding in the form of studies, exchange programmes or textbooks, you will not be eligible for participation.
• Organisations that unfairly discriminate on the basis of race, ethnicity, nationality, religion, gender, sexual orientation, age or disability are not eligible for participation.
• Large-scale infrastructure projects that are the responsibility of national, provincial or local government will not be considered eligible for participation.
• Conferences and individual research projects are not eligible for participation.
• Open to South African citizens only.
Applicants must note the following:
• Organisation must be in existence for at least 1 year
• The social enterprise must serve marginalised and previously disadvantaged communities
• The social enterprise must blend "for profit" and "for social impact"
• First round applications will be in the form of a video submission on www.barloworld.com/mbewu
• All shortlisted candidates will be notified via email and receive instructions for round two of the application process.
A winning social enterprise must be able to meet the three broad selection categories with additional team capabilities and innovation as additional consideration:
• Social Impact
o Is able to demonstrate clearly defined social, economic and environmental problem with a strong economic opportunity
• Likelihood for Success
o The organisations should be able to have a fit within their target market and understanding of the local community landscape and the social/environmental problem they are solving using a sound business model
• Business Potential
o The intervention should be financial feasible, fundable and scalable and or replicable
• Team Capability
o There is a good match between the team and the idea that can support significant value creation. The following are true of the strongest ideas:
The team inspires confidence in potential investors
Team members have relevant experience and skills that form the basis of their initiative offering
The organizational plan for managing the initiative is clear and credible
More information at: https://www.barloworld.com/mbewu/