Orange Corners Innovation Fund GROW Programme (South Africa)

OCIF GROW, the newly launched fund of the Orange Corners Innovation Fund (OCIF) in South Africa, is an extension of the Orange Corners incubation and acceleration programmes internationally, designed to address the financing needs of young entrepreneurs in Africa, the Middle East and Southeast Asia. OCIF supports young entrepreneurs to scale their businesses, create jobs and address local social challenges. OCIF is proudly managed by CDI Capital in South Africa.

Aims

• The OCIF GROW financial product aims to help you catalyse your youth-owned, impactful, innovative business by investing in growth.

Funding Information

• You can apply for the hybrid financial product (50% grant and 50% interest-free loan) for between R200,000 and R1m. The loan must be repaid over 18 months. Along with the financial support you will also receive specialised financing and investment-readiness training.

Benefits

• Support your innovative products, processes, business models, or marketing strategies
• A chance to scale up and grow your workforce
• The opportunity to drive positive change through alignment with the Sustainable Development Goals (SDGs)

Ineligible Activities

• The following business activities will not be considered by the CDI Capital OCIF-funded Ignite and Grow products:
  • Any businesses involved in the following: illegal trade, armaments or speculative real estate.
  • Businesses/business owners under debt review and/or technically insolvent businesses and individuals and/or directors (or equivalent) who are un-rehabilitated insolvent individuals
  • Any political organisation
  • Ventures inconsistent with the mandate of CDI Capital, or any business whose trade or operations may prejudice the reputation and good standing of CDI Capital

Eligibility Criteria

• All youth (18-35) graduates of the Orange Corners Designs programme and Orange Corners Trust programmes in South Africa, as well as any youth-owned innovative business based in South Africa
• South African citizens with valid South African Identity Documents or legal entities controlled by South African citizens with valid South African Identity Documents or permanent residents who hold a valid RSA ID document
• Must be youth-owned (majority shareholders and/or CEO must be 35 years or younger when applying for funding). They strongly encourage female owned businesses to apply
• Business must be in first 7 years of operation
• Post revenue – minimum 6 months trading history
• ZAR 250,000 to ZAR10 million annual turnover or sales
• Clear, well defined innovation addressing a local challenge with proven market traction
• Must address the Sustainable Development Goals
• Must be able to demonstrate how you will be able to repay the loan portion of the funding support provided
• Must be able to demonstrate how additional funding will enable you to grow your business, sales and create impact (including job creation)
• Must be willing to provide the Fund with ongoing reports to measure the impact during the life of the project
• Businesses must be located in South Africa

For more information, visit CDI Capital.