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MultiChoice establishes Innovation Fund

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The MultiChoice Enterprise Development Trust was established in 2012 to help the group’s contribution to enterprise and supplier development within the ICT sector to be more focused and streamlined. The Trust has so far invested in over 25 businesses totaling well over R180 million, creating 1000 direct and indirect jobs.

MultiChoice is continuing to invest in developing entrepreneurs with innovative businesses ideas through the newly established MultiChoice Innovation Fund, an extension of the Enterprise Development Trust. The fund will be investing in innovators in the video entertainment industry and technology sectors by allowing them to bring their ideas and dreams to life.

The grant will help successful beneficiaries with relevant financial support tailored to the specific circumstances of each business case whilst addressing the gender gap and youth unemployment, as well as ensuring increased and sustained diversity and inclusion in the tech, media and film industries. Focusing on the youth and women-led businesses, the fund is looking for businesses with a turnover of up to R50 million and are innovative in business processing, broadcast technology, innovative content, digital and internet solutions.

According Calvo Mawela, CEO of MultiChoice Group “The video entertainment industry and indeed the world as we know it, is on a fascinating digital trajectory.We want to partner with South Africa’s most exciting entrepreneurs, giving them the tools, skills and financial support to bring their original ideas to life,”. He hopes that the Innovation Fund will encourage original thinking and exciting new ideas that will lead to breakthrough moments for entrepreneurs.

As part of its search for entrepreneurs, MultiChoice Group is embarking on a nationwide roadshow, supported by various regional development and funding agencies including the Limpopo Development Agency, the Eastern Cape Development Corporation, Trade and Investment Kwa-Zulu Natal and WESGRO, to host business-tailored seminars for entrepreneurs and SMEs.

In addition, seminars will be hosted to give the aspiring entrepreneurs an opportunity to meet with key stakeholders, network with fellow entrepreneurs and learn about industry trends in the country and globally.

For more, go to www.multichoice.co.za/innovation-fund

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