Innovations Against Poverty (IAP) Challenge Fund offers matching grants to businesses ready to scale their inclusive innovations. IAP also offers tailored non-financial support, including business development advice, inclusive business strategy development, and marketing, distribution, and investment readiness training. For select grantees, IAP offers matchmaking with investors and funders, including local and regional investors, as well as access to ongoing investment mentorship.
Funding
Grants ranging from €50,000 to €200,000.
Eligibility
To be eligible for an IAP matching grant, your business must meet the following criteria:
Inclusive Innovation: Your business must be offering a product, service, or business model (or business line) innovation that directly benefits the base of the economic pyramid.
Market Focus: Your business must operate in Cambodia, Ethiopia, Uganda, or Zambia.
Commercial Viability: Your business should have passed the pilot stage and be generating revenue from the innovation. You must also have robust financial systems and processes in place that allow for timely reporting.
Co-Investment: Businesses must be able to co-invest at least 51% of the total project cost, either through cash or in-kind contributions
Sustainability and Scalability: They are looking for businesses with the potential to grow sustainably and scale their impact.
Responsible Business Practices: All applicants must comply with local laws and ethical standards, including labor rights, environmental regulations, and anti-corruption measures.
