African social entrepreneurs are invited to apply for the FINCA Ventures Prize, which will award grants of up to US$70,000 to solutions addressing global poverty.
The non-profit microfinance organisation FINCA International has been tackling poverty for more than 40 years, and FINCA Ventures is its impact investing arm, which supports early-stage companies operating within agriculture, financial inclusion, health and education within sub-Saharan Africa and Latin America.
The FINCA Ventures Prize is open to 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.
It will culminate in an event in March 2024 in Washington DC, which will feature in-person pitch presentations by the finalists to a jury and a celebration of the top winners in the categories of environment and health. Finalists will be awarded grant funding of up to US$70,000 to further develop their social enterprises.
“Early-stage social entrepreneurs, especially those operating in sub-Saharan Africa face significant challenges in raising capital to grow their businesses, which keeps poor and low-income people from accessing high-quality goods and services that can improve their lives,” said Omer Imtiazuddin, managing director of FINCA Ventures. “With support from our generous sponsor, we are excited to fund young entrepreneurs to solve pressing global health and environmental issues that we hear from FINCA customers every day.”
Applications are open here.