Deadline: April 30, 2019
UNCDF, in collaboration with UNESCAP, is launching an Innovation Fund on digital solutions for micro, small, and medium-sized enterprises in Asia-Pacific. The Innovation Fund seeks to co-fund companies to pilot innovative digital and financial solutions that improve access to finance and/or enhance operational efficiency of women-led MSMEs.
The goals is to co-fund and provide technical support for companies to pilot innovative digital solutions and/or digital financial solutions which support women-owned, managed and/or led MSMEs. Eligible applicants are welcome to submit a proposal that addresses this goal.
The Innovation Fund is targeted at solutions that are ready for pilot testing and will provide US $25,000 to US$ 50,000 of co-funding for selected projects.
Benefits
Successful applications will receive:
- Up to $50,000 of Co-Funding
- Technical Assistance
- Mentoring
- Connection to Investors
Eligibility
Eligible applicants who can apply for the Innovation Fund include (but not restricted to): regulated Financial Institutions (Banks, MFIs, Insurance companies); Payment Service Providers; Agent Banking Aggregators; Mobile Network Operators; Technology Providers; FMCG/Agriculture Companies; FinTech Companies; and NGOs.
- Companies with an innovative solution that will lead to increased access to finance for MSMEs, in particular women-owned, managed or led MSMEs – and which is ready for pilot testing in one or more of the target countries.
- The applicant can be based anywhere globally, but the project must target women-owned, managed or led MSMEs in one or more of the target countries.
- Joint proposals between market players in the target country/ies (for example, financial service provider, FinTech company and telecom provider) that expand delivery networks and promote rural/last-mile access to MSME finance are encouraged to apply.
- If the digital solution/product is a financial solution/product which requires piloting with a regulated financial institution and requires regulatory approval before piloting, the applicant must partner with a regulated financial service provider in the target country/ies for delivery of the innovative solution.
- Either the applicant or their financial service provider partner must be a registered entity with at least one year of operations and statutory accounts.
- The applicant must have an existing solution that is ready to undergo pilot testing for a duration of 9 to 12 months.
The applicant can be based anywhere globally, but the project must target women-owned, managed or led MSMEs in one or more of the target countries. The target countries include: Bangladesh, Cambodia, Fiji, Myanmar, Nepal, Samoa, and Viet Nam.
Application
For more information, visit UNCDF Innovation Fund.
