ISPA has set up a non-profit Section 21 company with the support of UniForum SA, WAPA and ISOC-ZA called IDEA (Investing in the Development of Enterprise Advancement) as well as a beneficiary fund called the Foundation for Internet Development.
These two entities will enable ISPA members to donate time, money and skills towards enterprise development and socioeconomic development.
They will be able to contribute towards the growth of black-owned ICT businesses through these vehicles in a manner that will benefit their broad-based black economic empowerment scorecards.
Said Jenny King of ISPA’s eDev Working Group, “ISPA is deeply committed to the growth of entrepreneurial Internet businesses in South Africa, particularly those owned by black-owned entrepreneurs. Through these new vehicles, we hope to seed the next generation of BEE technology entrepreneurs while helping our members to meet their scorecard targets.”
The Foundation for Internet Development is ready to start facilitating and accepting enterprise donations from ISPA members and is currently in the process of building its website.
ISPA members can support both projects through rendering professional services for free or at discounted rates as well as by donating money to the beneficiary fund. The Foundation will in turn make financial contributions to qualifying enterprises through grants, interest-free loans or minority equity investments. Any assistance provided by members will be claimable against a BBBEE scorecard for both Enterprise Development and Socioeconomic Development.