Three SA startups received $175K debt, grant funding from SAB Foundation

The SAB Foundation’s Social Innovation Accelerator and Fund (SIF) has awarded debt and grant funding totalling ZAR3 million (US $175,000) to three South African startups: Respo, Syked, and Word of Mouth.

Some of the most creative social enterprises in South Africa receive funding support and investment readiness from the SIF, which was established in 2017 and is overseen by Impact Amplifier.

Before being assisted in obtaining investment support from the SAB Foundation and other investors, chosen ventures take part in Impact Amplifier’s Investment Readiness Program.

Following three startups’ pitches to the SAB Foundation, the seventh edition of the program ended with ZAR3 million (US $175,000) in funding.

These were Word of Mouth, an end-to-end e-commerce platform that promotes trade in the informal economy by enabling low-income South Africans to become private ambulance drivers; Respo, an online wellness platform that offers virtual counseling sessions to clients over a secure video platform; and Syked, an end-to-end e-commerce platform that unlocked the potential of informal entrepreneurs.

Impact Amplifier and the SAB Foundation will choose the eighth cohort of the SIF in the coming weeks.