Project: Support of the IDC Social Enterprise Programme
Partner: Industrial Development Corporation
Periode: April 2017 – March 2022
Budget: 3.000.000 euro
The programme of the Industrial Development Corporation promotes social entrepreneurship in South Africa. By fostering the creation of companies with a clear social or environmental purpose, they integrate the most vulnerable groups into the economy. The programme focuses on the allocation of funding to social entrepreneurs who wish to develop a proven business model. At the same time they also help them to develop critical skills and knowledge, e.g. with regard to impact measurement. In addition, the programme devotes attention to the ecosystem which a social entrepreneur needs, viz. policy, awareness-raising and practice-oriented research.
South Africa is one of the three partner countries of Flanders in Southern Africa. This project grant falls within the scope of the 2012-2016 Country Strategy Paper which focuses on entrepreneurship and social innovation to reduce poverty and inequality. In 2013, Flanders already allocated a project grant of €4 million for the development of the social economy fund at the Industrial Development Corporation. After a positive evaluation, Flanders decided to continue the cooperation.