Deadline: 31-Jul-22
The FUNGO Innovation Programme has been launched to increase the number of successfully scaled innovative ventures/ start-ups, to contribute to the national development goals and the accelerated achievement of SDGs in Tanzania.
The programme is initially being funded by UNDP, the European Union Delegation to Tanzania and EAC, as well as the Foreign and Commonwealth Development Office (FCDO). The implementation is being led by UNDP Tanzania in partnership with the United Nations Capital Development Fund, UNCDF and the Commission for Science and Technology (COSTECH), who is our government partner.
FUNGUO would like to identify impact-driven startups and scalable innovative SMEs, that are legally registered in Tanzania and majority-owned by Tanzanians. Special consideration will be given to women-owned and women-led ventures.
This is achieved through the programme’s contribution to addressing the stumbling blocks and gaps that hinder innovative impact ventures from scaling in 3 key areas namely, innovation financing, innovation service delivery and innovation enabling environment while promoting an environment that promotes innovation for development and empowers innovators, entrepreneurs, and enablers.
The type of ventures to be supported through FUNGUO funding are those with a clear path to scale. The goal is not to fund small organisations that stay small, and medium-sized interventions that stay medium-sized. It is to support ventures to scale to reach millions of people.
Objectives
- Considering the current startup financing landscape in Tanzania, through this funding round FUNGUO seeks to use grants to take smaller bets on ventures with proven business model that can demonstrate some market traction through revenue generation. The eligible impact-driven startups must demonstrate their scalability potential and how the funding will unlock their potential to attract additional funding. Startups with prospective investors waiting for someone to take the first bet to de-risk them will stand a high chance to be funded, as long as they meet other selection criteria.
- This initial funding round is also meant to build a healthy pipeline of investable impact-driven startups and scalable SMEs with innovative business models that can be linked to other potential funders.
Funding Information
Successful applicants will be offered an equity-free responsible grant ranging from TZS 50 million to TZS 200 million.
Eligibility Criteria
This RfA is open to ventures that are:
- Legally registered in Tanzania.
- Majority owned by Tanzanian citizens (by 51% and above).
- Beyond ideation and pilot stage, with a minimum viable product that has some market traction.
- For-profit entities or market-oriented social enterprises.
Exclusionary Criteria
- Applicants shall not have been the subject of bankruptcy, liquidation, judicial settlement, safeguarding, cessation of activity or any other similar situation resulting from a similar procedure.
- Applicants and any of their states or member of their board of directors shall not be included in the United Nations financial sanctions lists, particularly in the fight against the financing of terrorism and against attacks on international peace and security ; and
- Applicants must not be involved in any of the following activities
- Manufacture, sale or distribution of controversial weapons or their components, including cluster bombs, anti-personnel mines, biological or chemical weapons or nuclear weapons
- Manufacture, sale or distribution of armaments and/or weapons or their components, including military supplies and equipment
- Replica weapons marketed to children
- Manufacture, sale or distribution of tobacco or tobacco products
- Involvement in the manufacture, sale and distribution of pornography
- Manufacture, sale or distribution of substances subject to international bans or phase-outs, and wildlife or products regulated under the CITES
- Gambling including casinos, betting etc. (excluding lotteries with charitable objectives)
- Violation of human rights or complicity in human rights violations
- Use or toleration of forced or compulsory labor
- Use or toleration of child labor
- Applicants shall have fullfilled all obligations relating to the payment of taxes in accordance with Tanzanian legal provisions
For more information, visit https://apply.uncdf.org/prog/220613_-_tanzania_funguo_innovation_programme/