The 2016 Innovation Competition is currently open. As in 2015, this competition requires proposals that seek to design, pilot,test and launch new financial products and services that can effectively meet the financing needs of people living in poverty in rural and agricultural areas.
Your idea Innovative?
- What is the potential for the proposed idea to change access to financial services in rural Africa?
- In what way is the proposed idea new? Is it new to the financial services sector, new to the country, new to the continent? Perhaps it is even a first in the world?
- To what extent does the proposed project reach financially underserved markets?
The Innovation Competition is open to project proposals where implementation will take place in the following countries:
- Benin
- Burkina Faso
- Burundi
- Cameroon
- Côte d’Ivoire
- Djibouti
- DRC
- Ethiopia
- The Gambia
- Ghana
- Kenya
- Liberia
- Madagascar
- Malawi
- Mali
- Mozambique
- Niger
- Rwanda
- Senegal
- Sierra Leone
- Tanzania
- Togo
- Uganda
- Zambia
Summary Eligibility
- The proposal must be for a project within an institution.
- Projects may be proposed by a single institution or by a partnership of two or more of them (which could include a non-governmental organization); however, the proposal must be made by one company acting as the lead organization.
- Projects for the Innovation Competition must take place in one of the countries listed as eligible for the Innovation Competition.
- Projects in the Scaling Competition must take place in one of the eight core countries eligible for that competition.
- Projects must demonstrate the potential to increase the provision of financial services to financially excluded poor people in rural areas of eligible countries.
- Applications made to the Innovation Competition should be for support of between US$250,000 and US$1,000,000. For the Scaling Competition, applications should be for support of between US$750,000 and US$2,500,000.
Deadline: March 28, 2016
To apply and for more information visit here
