Ghana: 2021 GrEEn Innovation Challenge

Deadline: 18-Jul-21

Applications are now open for the Boosting Green Employment and Enterprise Opportunities in Ghana (GrEEn) project Innovation Challenge is a yearly competition aimed at supporting SMEs and businesses that have outstanding, innovative green ideas.

• Promote the green and circular economy in Ghana
• Promote green product/service innovation
• Contribute to the creation of green jobs whilst strengthening the business skills of green entrepreneurs
• Improve access to the market for green products by highlighting and showcasing green businesses and SMEs and supporting the operations and sustainability of green SMEs

Elements

• Matching grants will be awarded as co-investments through a competitive process
• Provide up to €25,000 of the total required investment for the proposed initiatives on an 80:20 basis
• Investment size will depend on the level of innovation, commercial viability, environmental and social impact potential of the selected initiatives

• The GrEEn Challenge Fund will contribute up to €25,000 of the funds needed for the proposed initiative for eight (8) SMEs
• The SMEs will co-invest on a 20:80 basis with cash and in-kind contributions
• The SMEs are required to have at least 10% equity as their co-investment. Any in-kind contribution must be specific and directly related to the project
• The cash contribution can be recently procured direct capital expenditure (equipment, physical assets etc) or project operational expenses

• The solution must be economically viable either in the form of a social or for-profit business
• The solution must have a positive impact on the climate, environment and community
• SMEs must be located in the Ashanti or Western Regions or have operations in the regions (for instance as a source of input or with an operational office). SMEs must have been operating in the Ashanti or Western regions for at least a year
• The solution must be in the Water, Sanitation and Hygiene (WASH), Renewable Energy and Energy Efficiency and/or Agriculture sectors
• The solution must have been developed and ready to go to market (at least a working prototype or demo) or already on the market with existing customers
• The lead entrepreneur must be between 18-35 years. Women entrepreneurs can be older than 35 but no older than 40 years
• Priority will be given to businesses led by women-led and/or returning migrants

For more information, visit https://snv.org/update/2021-green-innovation-challenge