Deadline: July 24, 2020
The UNDP, under the auspices of the “Plastic Waste Recovery for a Circular Green Economy in Ghana” project with funding from the Coca-Cola Foundation (TCCF) is launching the 2nd edition of the Waste Recovery Innovation Challenge (WRIC).
The aim is to provide technical and financial support to business solutions that will promote and/or test innovative strategies for plastic waste recovery and management in Ghana.
They are seeking to provide financial and technical support to businesses that have a good management structure; have the possibility of making profit in the short, medium and long term; create employment and other income generation opportunities especially for women and youth; and should lead to/contribute to bringing a lasting solution to plastic waste recovery and management challenge in a specific area/community or region in Ghana. Special consideration will be given to projects that contribute to COVID-19 response and recovery.
Funding
- The total grant funds requested must not be more than US$ 40,000.
Eligibility
- Applications must be submitted by private sector firms, including: a private for-profit company, joint ventures, partnership, cooperative, etc.
- New business set-ups or ideas will not be eligible under the 2nd edition of WRIC.
Applicants must meet all of the following criteria for your application to be considered:
- The total grant funds requested must not be more than US$ 40,000.
- The applicant (including third parties such as co-investors or banks and other lenders) provides matching funds of at least 30% of the total cost of the business idea.
- The funding request is for a specific, new and innovative business idea/project that addresses the challenge enumerated above. The WRIC/UNDP views innovation in its broadest sense including: i) a new approach, product, idea or service that has not been tested anywhere; ii) an approach, product, idea or service that is new to Ghana; or iii) an approach, product, idea or service that has not been applied to plastic waste recovery and management in Ghana but presents the best possible opportunity to provide lasting solutions.
- Applicants must demonstrate that the project could not go ahead without WRIC/UNDP funding or that, if it would go ahead anyway, it would be at a much-reduced pace or scale.
- An organization may partner with other organizations, including NGOs and Community organizations. However, it is a condition that the lead applicant and implementer of the business idea must always be a commercial organization/business.
- The idea must be implemented in Ghana by private sector organisations registered in Ghana.
- A consortium may be formed, but the lead applicant is responsible for the project/idea and must warrant that the permission of the other members has been obtained.
Application
Interested entrepreneurs are requested to submit a Concept Note to [email protected] before July 24, 2020 by 5pm GMT. All concept notes should be developed and submitted using the ‘WRIC CONCEPT NOTE APPLICATION FORM’ template.
For more information, visit UNDP Ghana.
