Innovations Against Poverty (IAP) is inviting applications for its Challenge Fund, offering matching grants from €50,000 to €200,000 for businesses with inclusive innovations. These grants are designed for businesses in Cambodia, Ethiopia, Uganda, and Zambia that are past the pilot stage and generating revenue.
IAP also provides tailored non-financial support, including business development advice, marketing strategies, and investor matchmaking. Eligible businesses must co-invest at least 51% of the total project cost and demonstrate sustainability and scalability.
Eligibility Criteria
To qualify for an IAP matching grant, your business must fulfill the following requirements:
- Inclusive Innovation: Your business should provide a product, service, or innovative business model that directly benefits those at the base of the economic pyramid.
- Market Focus: Your operations must be based in Cambodia, Ethiopia, Uganda, or Zambia.
- Commercial Viability: Your business needs to have moved beyond the pilot phase and be generating revenue from the innovation. Additionally, you should have strong financial systems and processes in place to ensure timely reporting.
- Co-Investment: Businesses are required to contribute at least 51% of the total project cost through cash or in-kind investments.
- Sustainability and Scalability: We seek businesses that demonstrate the potential for sustainable growth and the ability to expand their impact.
- Responsible Business Practices: All applicants must adhere to local laws and ethical standards, including compliance with labor rights, environmental regulations, and anti-corruption policies.
Apply before 15 January 2025 through the SmartME platform.
