Thundafund wants to see innovation and creative driven development in South Africa. It is well known that traditionally start-up funding for new ideas is extremely hard to come by, and often is accompanied with unnecessary baggage. Including: Put your house / assets / family jewels on the table and ‘they’ will consider a loan or investment, with interest, of course. And frequently, if you do not have the collateral, then it is an outright, ‘No’.
Through crowd activation, Thundafund is changing this.
Thundafund allows people with great ideas to access capital, test whether they have a saleable idea and establish an initial market for their products and / or services.
Importantly, Thundafund does not just provide a route to access capital, but through networked partners provides levels of business support and mentorship. The ‘Thundavettors’ and ‘Thunda-champions’ – who are category-specific industry professionals’ – both review and guide project creators, creating an enabling environment for budding entrepreneurs. Thundafund’s focus is initially on projects with a creative or innovative base, while also encouraging a strong positive social or environmental impact.
R155 million to be raised in 3 years for 3 300 projects creating 10 000 job opportunities.