The Shift Fund, sub-fund of the Enygma Ventures, is accepting applications from innovators and entrepreneurs targeting new or existing businesses. The fund is worth USD$1,000,000 and starts accepting applications on August 3. This new partnership between SHIFT and Startup Circles aims to fund 20 to 40 new startups while providing mentorship, training, and business validation through Startup Circles.
Enygma Ventures is positioning itself for a post-COVID-19 world and businesses that are adjusted towards that new reality. Businesses and ideas that offer solutions to systemic problems within the SADC region. The idea should be scalable and address the mass market.
Going by their previous success, the fund is expected to attract many applicants. For instance, their first Call of applications received 900 submissions from entrepreneurs. Those selected are working with the program to date. A good number of them will receive seed funding pre-seed funding and 2 others will receive seed funding sometime this month.
Enygma Ventures is a VC fund based in the United States and founded by Sarah and Jacob Dusek.
Applications for the idea stage
Applications for the existing businesses