Futura accelerates the empowerment of black-owned businesses while offering companies with B‑BBEE commitments a compelling opportunity to participate in creating sustainable, shared value within the South African economy.
Futura has been shaped in consultation with B‑BBEE experts and after extensive research in the private sector. Futura will help to address the urgent need for sustainable skills in South African business in the following areas:
- Skills development (SD)
- Enterprise and supplier development (ED)
- Socio-economic development (SED)
- Corporate social investment (CSI).
Build black business leaders and build your B‑BBEE rating
Via Futura, companies can create meaningful B‑BBEE without the need to invest in additional in-house capacity. Furthermore, companies can earn B‑BBEE points* as soon as they join the accelerator.
*Scoring B‑BBEE points with Futura, an example: A contribution of R1m to Futura will generate B‑BBEE points to the value of up to R1.35m for your company, instantly. Additional points for supplier development can be earned by appointing one of Futura’s vetted and developed SMMEs as a supplier to your company.
Get involved in Futura
Contact us today to discuss how your company can contribute to this innovative venture.
Register with Futura’s database to be considered for the accelerator programmes.
How Futura works
This is how the accelerator works in more detail:
- Contributions from participating companies go to the relevant Futura fund, either the Skills Development Fund (SDF) supporting individuals via bursaries or the Enterprise and Supplier Development Fund (ESDF) supporting SMMEs via grants.
- Benefits, such as B‑BBEE points for grants and tax benefits for donations, are available immediately after the contribution is made.
- Working with clients, the Futura team will recommend the best way for your B‑BBEE requirements to be met, via shared-value creation principles, and will administer those activities on your behalf with vetted recipients.
- Customised learning programmes, business coaches and mentors are available to SMMEs where required.
- Regular progress reports are provided by the Futura team.
The value-chain partners in Futura
Futura is backed by a partnership that consolidates the strengths of UCT and its Graduate School of Business (GSB) with its broad network in the private sector. We believe this collaboration benefits both existing businesses, as well as the SMMEs and individuals we seek to develop. Our partners act as consultants and facilitators.
The University of Cape Town (UCT) , education provider.
UCT Graduate School of Business (GSB), education provider.
EdgeGrowth, SMME venture project management specialists.
Empowerdex, leading B-BBEE verification agency.
Platinum Black, enterprise development specialists.
The benefits of Futura
- Implement B-BBEE legislation efficiently, meaningfully and sustainably by 1) accessing and nurturing individual business talent, as well as vetted SMMEs in your sector, 2) participating in a shared value chain, i.e. growing resilient, local suppliers and thus adding value to both your and their business and 3) with a sustainable outcome for your company’s empowerment credentials beyond the prescribed annual B‑BBEE audit periods.
- Improve your B-BBEE credentials and scorecard by earning B‑BBEE points as soon as you join.
- Extend your B-BBEE reach without the need to invest in additional in-house capacity: Futura is a full-house outsourced solution to the challenges of skills, enterprise and supplier development needs.
- Keep up-to-date with all aspects of B-BBEE, such as codes, implementation advice and legislation details.
- A close association with the University of Cape Town (UCT) and the UCT Graduate School of Business (GSB), one of Africa’s top business schools.
- The opportunity for ongoing corporate social investment, aligned to your company’s social development profile.
- Direct and ongoing involvement in the SMME supplier development process.
- The best possible start to a new career or new business venture through SAQA-accredited training at the University of Cape Town (UCT) and the UCT Graduate School of Business (GSB), one of Africa’s top business schools, including access to its alumni network.
- Working capital and a solid business plan for vetted SMMEs.
- Mentoring and business coaching for SMME business talent.
- The opportunity – as vetted SMMEs – to become part of a supporting company’s supply chain and/or a larger supply network.
FAQs about Futura
- I would like to invest in Futura's enterprise and supplier development (ESD). What are the main points I need to know?
- Investors acknowledge that the purpose of Futura’s Enterprise Supplier Development Fund (ESDF) is creating sustainable, South African Black-owned businesses according to the spirit of the B-BBEE Codes, recognising that earning of ESD points is only one outcome of a process geared to creating businesses that will transform and grow the South African economy.
- Investors should have a clear idea of the B-BBEE benefits they need to comply with the B-BBEE scorecard. The Futura team can assist with this process, in particular, the regional gender and population group splits required by companies with a national footprint.
- The relationship with the University of Cape Town (UCT) offers the opportunity for greater involvement – for example, graduate recruitment and sponsorship opportunities, customised projects such as research, graduate training programmes and adult learning from the suite of schools within the UCT, specifically the internationally-accredited UCT Graduate School of Business (GSB).
- Investors earn Enterprise Development points upon depositing their funds into Futura’s ESD Fund (ESDF) or Skills Development Funds (SDF); Supplier Development points are earned upon appointing one of the companies from the Futura stable as a supplier. As a Level 1 B-BBEE contributor, Futura provides investors with 135% contribution ratio.
- Lead sponsor opportunities are available, offering greater CSI brand exposure.
- The Futura team can work with investors to develop greenfields projects or scale up existing business to meet the investor’s particular supplier requirements.
- I would like to donate to Futura's skills development. What are the main points I need to know?
- Donors acknowledge that their donation to Futura’s Skills Development Fund (SDF) is used for the purposes of awarding scholarships to current and future students of the University of Cape Town (UCT) and UCT Graduate School of Business (GSB). Although donors may indicate in broad terms the kind of candidate they would like to support, they cannot specify individuals to whom the scholarship will be awarded to.
- The Futura team assists donors in determining the demographic profile of students to be supported with their donation in order to maximise B-BBEE scorecard points.
- Donors earn B-BBEE Skills Development points at the time of making their donation to the Futura’s SDF. As a Level 1 B-BBEE contributor, Futura provides donors with 135% contribution ratio.
- I'm a business owner looking to sign up for Futura's enterprise and supplier development programme. What are the criteria?
Your business must meet the following criteria:
- A company registered with the Companies and Intellectual Property Commission (CIPC). Individuals and sole traders do not qualify.
- Complies with B-BBEE ownership requirements of 51% or more owned by Black South Africans
- If seeking funding for scaling up your business, you must be able to demonstrate the sustainability of the existing business model
You as a business owner must agree to:
- Give Futura and its value chain partners full access to all aspects of your business, including but not limited to your business plan, strategy documents, and financial records
- Submit to the recommendations of a management advisory board consisting of mentors and advisors who will assist you with implementing an approved business plan and achieving particular agreed growth objectives
- I'm a professional looking to sign up for Futura's skills development. What are the criteria?
You can apply for a Futura Scholarship. For this, you must
- meet the application requirements of your intended place of study, i.e. the University of Cape Town (UCT) or UCT Graduate School of Business (GSB) AND you must be offered a place as a student
- come from one of the B-BBEE-designated population groups
- agree to, following the completion of your studies, work in the Republic of South Africa for a period equal to the total period of your study for which the scholarship was awarded.