Tag Archives: innovation

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STERLING BANK GREEN INNOVATION CHALLENGE FOR STARTUPS AND MSMES

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Application Deadline: October 20, 2024, at 2pm.

LOCATION: Nigeria

Welcome to Green Innovation Challenge (GIC) 2024 – Empowering Innovation through access to funding. GIC is dedicated to providing access to funding for startups, MSMEs, SMEs, cooperatives, and social enterprises that are driving innovation and positive environmental change.

ELIGIBILITY:

It is open to applicants in agriculture, clean tech and social enterprise, and is designed to connect you with the resources you need to bring your ideas to life, scale operations, and make a lasting impact.

Whether you’re launching a groundbreaking startup, growing an established SME, or leading a cooperative or social enterprise with a mission for good, we invite you to apply for funding to fuel your journey.

FOR CLEAN TECH APPLICANTS

Applicant must be between ages 20 to 45 years.

Solutions should cut across any of the following focus areas:
Battery recycling
EV digital technology application
Conversion of ICE tricycles to EV

Solution/innovation must be in the prototype or demonstration phase.

Applicant must have a clear plan for scale and viable prototypes.

Applicant for on-lending finance must have a minimum of 30% equity.

Successful applicants of the cleantech category in the Sterling Green Innovation Challenge stand a chance to win sponsored grants and access to lending financing from the Bank, however, the selection committee has the sole responsibility of, and discretion in selecting winners, and the decisions are final. The value of these prizes is to be at the sole discretion of the organizers.

Successful applicant must use funds for the proposed solution approved by the selection committee.

Applicants who are awarded a grant shall be obliged to sign a grant /use of funds agreement with
Sterling Bank detailing how they intend to use the grant funds, including a disbursement schedule
where applicable.

The selection committee and/or organizers shall have the right to withdraw any award/grant prize
from a participant who fails or refuses to comply with the obligation in this clause.

Grant recipients and applicants accessing finance will be expected to complete a documentation
process with the bank before disbursement of funds.

FOR AGRIC APPLICANTS

Applicant must be between age 18 and 35 years.

Application must be technology driven, proving productivity and profitability across value chain, and
focus climate smart initiatives.

Solution must be able to leverage on other sources of energy to save cost.

Solution must focus on value chain linkages and solve post-harvest losses.

Applicant solution must be on a specific value-chain, crop and livestock production, processing, sales, and distribution.

The selection committee and/or organizers shall have the right to withdraw any award/grant prize from a participant who fails or refuses to comply with the obligations in this clause.

All Sterling Bank terms and conditions apply.

FOR WOMEN-LED SOCIAL ENTERPRISE

Applicant must be a female between 18 and 45 years.

Applicant innovation should align with ESG principles and must be around renewable energy, climate education, agriculture, and climate action.

The selection committee and/or organizers shall have the right to withdraw any award/grant prize from an applicant who fails or refuses to comply with the obligations attached to this grant.

The selection committee has the sole responsibility of, and discretion in selecting winners, and the decisions are final. The value of the prize is to be at the sole discretion of the organizers. Successful applicants must use funds for the proposed solution approved by the selection committee.

All Sterling Bank terms and conditions apply.

BENEFIT:

FOR CLEAN TECH APPLICANTS: Applicant can access on-lending financing up to 1 billion Naira.

Minimum financing request for on-lending is 10 million Naira.

FOR AGRIC APPLICANTS: Applicant can access a single digit facility up to 20 million Naira.

FOR WOMEN-LED SOCIAL ENTERPRISE: Applicant can access a grant up to 2 million Naira.

APPLY
awards, Events, Opportunities, other events

$50,000 POST-HARVEST LOSS INNOVATION PRIZE

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Application Deadline: August 14, 2024

LOCATION: Multiple Regions

The Post Harvest Loss Innovation Prize is seeking innovative solutions that reduce post-harvest loss for smallholder farmers in emerging markets. Funding from the prize is unrestricted. Applications will be reviewed by the Factor E investment team, and the top five finalists will be announced on September 17th. The final award announcement will be on September 25, 2024.

ELIGIBILITY:

They are seeking groundbreaking solutions that empower smallholder farmers in South Asia and Sub-Saharan Africa to reduce post-harvest loss.

Applications may be submitted by any entity including startups, universities, non-profit organizations or for-profit companies.

Nominate
Do you know a deserving candidate? We encourage nominations of qualified startups, companies, or groups!  Help us find the most promising participants by submitting your nominations through the form below:
Nominate an entity here

For questions about the prize or eligibility, please contact submissions@factore.com

They prioritize innovative solutions with the potential to create substantial impact within our target markets.  While not all criteria are mandatory, we evaluate submissions based on the following key factors:

Innovation: The innovation must be for smallholder farmers. Submissions should demonstrate a novel approach to solving a problem faced by farmers in emerging markets. Innovative solutions are defined as technologies, business models, hardware and/or software that have the potential to become commercially viable.

Solution Validation: We are seeking solutions that have undergone successful testing, either in a controlled laboratory environment or directly in the field.

Global Applicability: Innovations can come from any geography globally but must have relevance for direct application in South Asia and Sub-Saharan Africa with the ability to scale to other emerging markets in the future.

Gender Impact: We prioritize solutions with a demonstrably positive impact on female farmers. 

Scalability and Reach: The ideal solution should have a clear path to scale with significant commercial returns in the future. The technology should have a direct economic impact with the potential to empower over 1 million farmers and demonstrate future return on investment (ROI).

Farm-Level Implementation: The solution should be designed for use by farmers, not through retail channels.

Minimal Behavioral Change: Solutions with a low barrier to adoption are preferred. They should require minimal adjustments to farmers’ existing routines.

Financial Traction: Evidence of progress towards financial sustainability is a positive factor. Prior fundraising success is also considered.

Technology Readiness Level (TRL): We look for well-developed technologies at or beyond the validation stage, with preferably existing paying customers.

Founding Team: A strong, balanced, and diverse founding team with a proven and visionary leader (CEO) is crucial.

BENEFIT:

This prize offers more than just a $50,000 financial reward for the winning applicant. Finalists gain access to a network of experienced industry leaders and receive media exposure to showcase their innovation. The winner will also benefit from access to Factor E’s post investment support . Gain the resources and recognition you need to accelerate your agritech journey, grow your innovation, and create impact. 

APPLY