MultiChoice Launches Fund To Promote New Content Ideas

27 February 2020

Investment

The MultiChoice Group has launched a multi-million rand fund to help in the development of innovative small, medium and micro-enterprises that produce media content.

The Innovation Fund will target innovators within the video entertainment industry and technology sectors, allowing them to bring their ideas to life.

The commercial satellite services broadcaster explained in a media statement that the Innovation Fund would focus exclusively on investing in South African entrepreneurs, start-ups and businesses.

MultiChoice added that the Innovation Fund was an extension of MultiChoice Enterprise Development Trust, established in 2012 to contribute towards enterprise and supplier development in the Information and Communications Technology sector.

Thus far, the MultiChoice Enterprise Development Trust has invested in over 25 businesses and created 1,000 direct and indirect jobs, according to the company.

MultiChoice’s Group Chief Executive Calvo Mawela said that the video entertainment industry is on a fascinating digital trajectory and MultiChoice wants to ensure that it stays ahead of the pack if Africa’s entertainment industry is going to continue to grow sustainably and be globally competitive.

Source: Sowetan Live