Foundervine, a venture which supports startup and business founders, has announced the Vine Fund, an initiative targeted at small charities and social enterprises in Nigeria and Ghana. Through this program, it aims to provide funding and non-financial aid to social impact organizations active in both countries.
The Vine Fund will provide up to $1,000 to social enterprises that have been significantly impacted by the COVID-19 pandemic. The fund aims for this financial support to help its recipients get back on their feet. Beneficiaries will also receive mentorship, coaching, and training to enable them to scale their business.
Organizations which Foundervine selects to take part in this program will benefit in the following ways:
- Receive grants of up to $1,000 to help support their business
- Get capacity-building support via masterclasses, mentorship, coaching, and training sessions, all of which will be geared at helping participants to grow their business
- A chance to join the Vine Community, and access resources that’ll aid their growth
- Be enabled to work with communities that have been hard hit by COVID-19, e.g. helping people get back to work and school, and supporting families who have been bereaved
The program is open to applicants that meet these conditions:
- Should be a social impact organization that’s active in Nigeria or Ghana
- Must be legally registered as a charitable organization or social enterprise
- Must have been in operation for 12 months prior to applying
- Should rely on income from selling goods and services
How The Program Will Unfold:Applications will remain open until July 22, 2022.
The program’s organizers will select 24 organizations—12 from each country –to pitch. A maximum of 16 organizations will receive grants of up to $1,000 each.
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