Deadline: 30-Sep-20
The United Nations Development Programme (UNDP) Uganda in collaboration with Stanbic Uganda Holdings Limited (SUHL) is inviting proposals to an Open Innovation Challenge Fund Call for the Youth4Business Innovation and Entrepreneurship Facility.
The Call targets MSMEs looking to pilot and or scale their inclusive business models and solutions (inclusive business models and solutions are enterprises that include low-income people as customers, as owners, employees, producers, and entrepreneurs at various points within the value chain).
Objectives
- Support youth resident in Uganda and enterprises to pilot innovative ideas (solutions, technologies, business models), or new ways and markets of delivering products and services with a commercial imperative
- Enable enterprises to transform successful innovative pilots with commercial viability into impact at scale
- Stimulate faster recovery of SMEs from the impacts of COVID-19 and enable them to build sustainable enterprises that are resilient to similar disruption
- Establish a functional ecosystem platform to connect young entrepreneurs, MSMEs, Government, Development Partners, financial institutions, and all other relevant actors.
Funding Information
- Successful Applicants can receive from USD 10,000 up to a maximum of USD 40,000 in cash and/or in-kind support through this Innovation Challenge Fund.
- Successful Applicants might also receive 12 months of tailored business development services and enterprise development training from the Stanbic Business Incubator and mentorship from the UNDP Accelerator lab to foster the nexus between business development services and development solutions.
Eligibility Criteria
- Must be a firm/joint venture that is legally recognized under the Laws of Uganda with a business license readily available for verification.
- Must be an established operational firm/ joint venture in business for at least 12 months ending 31 March 2020.
- Must be a firm operating in the targeted sectors of agriculture, tourism, manufacturing, renewable energy, information technology, or creative arts industry, with a product or service on the market; or a not-for-profit social enterprise founded/ owned by youth with a financially viable and sustainable business model; and able to demonstrate a track record of at least twelve months of business operations ending 31 March 2020.
- Be financially viable, socially responsible, environmentally friendly, and culturally sensitive firm willing and able to match the grant award with own resources of at least 20% of the grant award in-cash and the rest in-kind (80%).
- Must demonstrate capacity and dedication to implement their innovation and or scale their business and demonstrate sound financial performance and practices.
For more information, visit https://procurement-notices.undp.org/view_notice.cfm?notice_id=69974