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Giving future developers a fair chance through funding

October 30, 2023

Here at xneelo, we are passionate about enabling businesses and entrepreneurs to grow online, which is why we are proud to partner with CodeSpace to support South Africa’s future leaders in tech. We’ve previously sponsored the tuition of students enrolled in the frontend web development and Intro to Web courses and helped pave the way for their careers by providing business enablement packs. 

Now, we’re pleased to announce that we are sponsoring a contribution toward The Future of Work Fund, which makes funding available to underrepresented and financially excluded youth. This funding doesn’t just apply to tuition fees but also supplies a laptop and monthly allowance to support students during their studies.

Thanks to the unique funding structure, students wanting to study software development are able to take the course immediately and pay later through an Income Share Agreement.

What is an Income Share Agreement?

Launched in 2022, CodeSpace’s Income Share Agreement (ISA) is a form of student financing that gives young people access to a tertiary education without burdening them with debt. Students receive financing for their coding education and in return, repay a percentage of their monthly income for a set period of time – but only once they’re earning above a certain monthly income threshold. 

Their monthly repayments go straight back into The Future of Work Fund and finance the next generation of aspiring developers.

Who is CodeSpace?

CodeSpace is a global education institution that specialises in teaching coding and technology skills. The industry-focused curriculum allows students to leave ready to hit the workplace – they boast an impressive 91% graduate employment rate.  

This passion and success saw CodeSpace being awarded “The Best Coding & Technology Education Institution in South Africa 2022” in the Tech Innovator Awards.

Learn more about CodeSpace’s story here. 

According to Statista, only 16.4% of Generation X individuals hold a higher education certificate in South Africa. Lack of funding directly contributes to this. By contributing toward The Future of Work Fund, we’re proud to be part of the mission to fill the skills gap for developers and to help the country’s youth find meaningful employment.

Applications for the next round of ISA funding are open until end-October 2023. If you’re interested in studying Software Development and want to apply for funding, click here.

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