Applications for the second edition of the Innovations Against Poverty (IAP) Fund hosted by the Inclusive Business Accelerator (IBA) are set to open for startups operating in Cambodia, Ethiopia, Uganda and/or Zambia on March 15.
To be eligible for the Innovations Against Poverty Fund, startups should develop products, services and business models that can contribute to the fight against poverty and climate change both commercially and for developmental benefits for the low income population.
The fund will have 2 rounds of calls in 2017 and is capitalized by Sida (Swedish International Development Agency) and managed by SNV Netherlands Development Organisation in collaboration with BoP Innovation Center and Inclusive Business Sweden.
Startups can apply for financial support ranging from €50.000 to €200.000, as a non-reimbursable risk capital for up to a maximum of 49% of the total required investment. The entrepreneurs’ investment must at least profile 25% in cash contribution.
Startups will also be offered advisory support – both in workshops and individual coaching – for developing and rolling out their business models that engage low income groups and deliver a commercial return.
IAP aims to work with entrepreneurs that will become drivers of change in their own markets, by taking their innovative ideas to scale, reaching a wide ecosystem impact, rather than a small pilot.
IAP aims to invest in private business initiatives in the ICT, Energy, WASH and agriculture and food se