In South Africa we face complex and urgent social and economic issues, and while there are outstanding individuals and organizations working to address these issues, there is a mile of red tape and a fractured system preventing the most successful outcomes.
Department of Social Development’s NPO register has over 211,000 organizations listed
While 31% of persons benefitted from a grant in 2018, 44,3% of the household received one or more grants.
Grants were the second most important source of income (45,2%) for households after salaries (64,8%), and the main source of income for almost one-fifth (19,9%) of households nationally.
Companies spent an estimated R9.7 billion on corporate social investment (CSI) in South Africa in 2018
We lack an effective structure to engage with and encourage collaboration between these individuals and organizations. As a result, resources are under-utilized, efforts are duplicated, and sustainable solutions remain out of reach. The complexity of the social and economic issues we face requires collaboration and innovation – we cannot solve them by doing business as usual in a siloed environment which is not fit-for-purpose and in which engagement and impact are difficult to achieve. To address these issues three critical steps are necessary:
- create a user-friendly space for players in the social economy to connect;
- connect those players in the right way;
- support, maximize and build on every connection made.
Our solution encompasses these crucial elements, and while our online platform leverages both cutting-edge technology and one-on-one engagement, it is only one aspect of our methodology. It is our unique and innovative range of services and approach to building strategic, multi-layered partnerships (based on over 40 years of cumulative experience in the field ) that will, together with our platform, drive a tangible difference in our social economy.
SoCapX, as a social enterprise, is focused on the optimal intersection of people, technology, and resources with the aim of revolutionizing the development sector. Facilitating the creation of a functional and vibrant social economy is the desired outcome. SoCapX is not just aiming to solve one social problem, but rather to change the dynamics and functioning of the overall system through a unique approach. By fundamentally reframing the dynamics of the social economy, we can make it work better for everyone – investors, implementers, and beneficiaries. Essentially, SoCapX simplifies the entire process of building a value driven relationship between partners from introduction to creating a mutually beneficial relationship over the long term or a defined period.
Our initial focus will be on grant management – connecting investors and implementers using an advanced algorithm that prioritizes key attributes and requirements to allow for the most optimal connections to be made. SoCapX aims to expand its service offering considerably within the coming months, building wider, synergistic, value-driven collaborations that far exceed the impact of a one-on-one relationship between an investor and an implementer, and supporting these collaborations through a range of user-friendly products and services that are tailored to the needs of both investors and implementers.