On 15 March 2017 applications will be opened for the second edition of the Innovations Against Poverty (IAP) Fund. The application process will be hosted by the Inclusive Business Accelerator (IBA) platform.
Companies that are based, or operating in the countries of Cambodia, Ethiopia, Uganda and/or Zambia are eligible to apply so long as they are actively engaged in the development and roll-out of business models that engage low-income groups and deliver a commercial return.
Financial support ranging from between €50,000 and €200,000 is available to companies and entrepreneurs who apply but the funding is not totally risk-free. It can be used as non-reimbursable risk capital for up to a maximum of 49% of the total required investment. The entrepreneurs’ investment must at least profile 25% in an in kind cash contribution.
In addition to the financial support companies will also be offered advisory support to assist them to develop and roll-out their businesses. Such support is to be delivered via a mix of international and local specialists, in the fields of inclusive business development, finance, innovation, amongst others. Besides, specialized support will be available through local associated consultants (to be financed by the investee) and through the online IBA platform.
The IAP Fund wishes to work with entrepreneurs that will become drivers of change in their own markets, by taking their innovative ideas to scale, reaching a wide ecosystem impact, rather than a small pilot. Focus will be given to entrepreneurs who operate in the sectors of agriculture and food, energy, water, sanitation and hygiene (WASH) and ICT.
It is the result of a partnership. It is capitalised by Sida (Swedish International Development Agency) and managed by SNV Netherlands Development Organisation in collaboration with BoP (Base of the Pyramid) Innovation Center and Inclusive Business Sweden.
This will be the first of two IAP funding calls hosted by IBA during 2017. Check their website or email email@example.com for further details.