Sponsoring is a process whereby a company or individual gives money to somebody to encourage them to do something or as a form of marketing. So, on a personal level you may sponsor your child to do a Sponsored Walk where you give them money for every mile they walk. This money may go to charity or to a good cause.
Corporate sponsorship is also quite common nowadays. Some companies, for example, will offer work sponsorship where they sponsor a young person to go to college or to take on a qualification. Here, as an example, the company could sponsor a student during a college course on the basis that they will then come and work for them for a period of time once they are qualified.
Companies also get involved in other areas of sponsorship that has a more marketing bias. So, for example, companies can advertise themselves and their services by sponsoring a high profile sports team, individual or sporting event. They can sponsor TV and radio programmes as well nowadays.
On a local level many companies will also sponsor local athletes and teams. This may simply involve a cash sponsorship donation to help a local football team buy a strip or a young athlete to buy some kit. Here the sponsorship is not just about marketing the company name but also about helping the local community.