FINCA International, a leading microfinance institution with a mission to alleviate poverty through economic assistance, today announced the launch of the FINCA Ventures Prize. This global initiative aims to identify, support, and celebrate social entrepreneurs who are harnessing innovative solutions to tackle critical challenges in the areas of environment and health.
The FINCA Ventures Prize seeks applications from social entrepreneurs with bold visions, disruptive business models, or new products or technologies that can create meaningful impact for poor and low-income people in developing markets. The program will culminate in an event in March 2024 in Washington, D.C., where finalists will pitch their ventures to a panel of esteemed judges and celebrate the top winners in the categories of environment and health.
Through the FINCA Ventures Prize, FINCA aims to elevate awareness among donor and investor networks of the transformative potential of social entrepreneurs to address pressing global issues. The program will highlight the power of innovative solutions to improve access to healthcare, enhance agricultural productivity, and foster climate resilience.
In the health category, the FINCA Ventures Prize will prioritize social entrepreneurs who are developing and scaling solutions that improve access to quality healthcare for underserved communities. This may include solutions ranging from brick-and-mortar facilities to digital platforms, medical devices, and tailored financial solutions for the healthcare sector.
In the environment category, the prize will focus on agricultural solutions that drive climate adaptation, specifically in the agriculture sector. This could include initiatives that enhance market access for smallholder farmers, promote sustainable farming practices, introduce ag-tech solutions, provide digital extension services, or develop financial tools to help farmers withstand climate shocks.
Categories and Benefits of Participation
The FINCA Ventures Prize encompasses four categories:
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Agriculture (American Founder or C-Suite)
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Agriculture (Local Founder)
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Health (American Founder or C-Suite)
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Health (Local Founder)
In each category, the following prizes will be awarded:
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Grand Prize: $70,000
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Second Place: $20,000
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Third Place: $10,000
Eligibility Criteria
To participate in the FINCA Ventures Prize, applicants must meet the following criteria:
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The company must have a significant presence in sub-Saharan Africa.
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The solution must address a critical challenge in either the environment or health sector.
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The company must be able to demonstrate a track record of impact and scalability.
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A representative from the company must be able to travel to Washington, D.C., for the pitch event (costs covered by FINCA).
The FINCA Ventures Prize is a powerful platform for social entrepreneurs to showcase their innovative solutions and connect with potential partners and investors. By supporting these trailblazers, FINCA is committed to accelerating progress towards a more equitable and sustainable world.
Deadline: December 15, 2023
Apply Now: https://finca.org/blogs/finca-launches-the-finca-ventures-prize-for-social-entrepreneurs
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