MultiChoice an internet distribution service, supports young and passionate entrepreneurs through its “The MultiChoice Innovation Fund” initiative.
This support was critical during the COVID-related difficulties of the previous year.
The Fund offered much-needed financial assistance to the eight recipients, all of whom are black majority-owned small businesses, allowing them to create 47 new jobs.
The following are the eight companies that have been added to the MultiChoice Innovation Fund’s growing list of beneficiaries.
- Bubblegum Club is a multimedia publication and content creation studio that began as a cultural intelligence agency.
- Duma Collective is a creative communications agency run entirely by black women.
- Mzansi Live: Mzansi2Cario is a broadcast media marketplace founded by Mzansi Live, a pan-African independent multimedia management company.
- Swypa Deliveries delivers products and services for township-based companies using door-to-door scooters for orders made through their app.
- The Plug is a 100% black woman-owned multimedia publication that covers all facets of urban culture.
- The Throne is a black woman-owned boutique agency that specializes in influencer marketing, social media strategy, talent management, and is home to The Throne Magazine.
- Whoosh Innovations, headquartered in Tshwane, is a 100% black, youth-owned payment solutions provider.
- Yellowbone Entertainment is a film and television production company based in Johannesburg, South Africa, that specializes in bringing authentic black South African content to international markets.
“Working with the MultiChoice Innovation Fund has allowed us to realize our ambitions.
We were able to adapt to market changes much more quickly, and we were also able to hire more people. That’s saying something in these difficult times,” said The Throne’s founder, Caron Williams.
Empowering and partnering with online content creators in order to scale up to meet this the demand The Plug, The Throne, Bubblegum Club, and Duma Collective are vibrant digital businesses that are changing the way South Africans consume content.
The Fund’s goal is to help entrepreneurs in the technology, e-commerce, digital content, film, and production industries achieve industry leadership.
It provides the resources, expertise, and financial support that black majority-owned start-up entrepreneurs and existing SMEs need to bring their business ideas to life.
Priority is provided to businesses led by women and young people.
More entrepreneurs have been added to the Fund since its relaunch in early 2020. Over half of the portfolio is currently held by women, and a third is owned by youth.
“South Africans take pride in devising creative solutions to today’s problems; these companies exemplify that spirit, and we are proud to assist them in realizing their ambitions.
Small businesses are critical to our economic development because they provide much-needed jobs.
That’s why our Innovation Fund is focused on this industry; we’re committed to doing our part to help our economy grow,” said Nyiko Shiburi, CEO of MultiChoice SA.
For more information visit Multichoice Website.
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