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Join the Samsung Enterprise Development Programme Growing South Africa through entrepreneurship

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Samsung South Africa has announced its EEIP (Equity Equivalent Investment Programme) plans, aimed at empowering previously disadvantaged South Africans, with a focus on women and youth-led startups. The programme initiatives are set to strengthen black economic empowerment through enterprise development, thus boosting economic growth and job creation.

The programmes are formulated to make a measurable difference and are aligned to the overarching objectives of the NDP Vision for 2030 and the Gauteng Township Economy Revitalisation Strategy. The aim is to find and support — through grant funding — high potential entrepreneurs to help them grow their businesses sustainably. In addition, a focus on establishing black businesses in the heart of townships has been prioritised.

The R280 ($16.7mn) million Equity Equivalent Investment Programme, launched in May 2019, is aligned with Samsung’s global mission of Enabling People which helps them discover and develop their full potential. The EEIP initiative is projected to have a measurable impact on job creation and a contribution of nearly R1-billion to the South African economy at large.

South Africa And Nigeria Top Africa's Startup Fundraising Chart In ...
Samsung ‘s Equity Fund hopes to assist more startups in South Africa to find their footing.

Building township business

Two accredited service centre entrepreneurs: The Service Centre programme will bring skilled black engineers to townships and peri-urban areas, with sufficient retail footprint to tackle the repair of mobile devices and consumer electronics that are subjected to rapid technological advancement and changing consumer needs. Samsung will provide two selected entrepreneurs grant funding to support their operations, including specialist business development support and access to Samsung’s service repair network.

Are you an entrepreneur? Share your story with us and get featured on our platform send us an email nichole@getfundedafrica.com

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Two marketing and advertising entrepreneurs: The Enterprise Development programme will contribute to transformation in the marketing and advertising industry, contributing to job creation through entrepreneurship. Samsung will provide support to successful entrepreneurs in the form of grant funding and access to supply chain opportunities to help grow their businesses.

One ICT entrepreneur: The Samsung SA EEIP is searching for a talented black software development business with potential, which can help overcome the challenges faced in the era of the fourth industrial revolution. Samsung will provide grant funding to capitalise the business and access to specialist business development support services.

Ultimately, The Samsung SA EEIP will make a measurable difference to the socioeconomic development of black South Africans.

How to Apply:

Follow the application process below to submit your application

Applications will be facilitated by Samsung’s partner Business Doctors:

Step 1: Apply online by submitting the required documentation (as stipulated on the Business Doctors website)

Step 2: Business Doctors will evaluate all submissions against the published qualifying criteria and shortlist applications for second round of evaluation.

Step 3: Shortlisted candidates will be notified by Business Doctors regarding the next steps in the evaluation process.

Step 4: Successful candidates will be publicly announced.

Apply here

Source: https://afrikanheroes.com/2020/07/19/new-16-7-million-equity-fund-for-startups-in-south-africa-by-samsung-here-is-how-to-go-about-it/

GetFundedAfrica is a technology-based, business information platform operated by Afriscaper Research & Consulting Limited with a mission to reduce barriers to funding for African businesses. GFA matches investor ready, African & African-Diaspora owned companies with global investors, leveraging market research, industry data and news aggregation

Are you an entrepreneur? Share your story with us and get featured on our platform send us an email nichole@getfundedafrica.com

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Entrepreneurs and businessmen alike have a crucial and pivotal role in the unemployment and collective required economic output crisis in Africa. Securing investment and funding to facilitate growth and economic impetus thus lies heavily in the minds of businessmen. The challenges of creating the right business plan, a realistic budget to gain traction and identifying adequate potential investors can sometimes be such a daunting process, and creates an avenue to be blindsided without proper guidance, representation or advice. Read more

Nichole Manhire

Is the productive executive for the media department at GetFundedAfrica

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