Applications for the FINCA Ventures Prize, which will give prizes of up to US$70,000 to initiatives addressing global poverty, are being accepted from African social entrepreneurs.
FINCA Ventures is the impact investing arm of FINCA International, a non-profit microfinance organization that has been fighting poverty for over 40 years. It supports early-stage businesses in Latin America and sub-Saharan Africa that are involved in agriculture, financial inclusion, health, and education.
Social entrepreneurs with audacious ideas, innovative business plans, or novel goods or technologies that have the potential to significantly improve the lives of the underprivileged in developing nations are eligible to apply for the FINCA Ventures Prize.
The competition will conclude with an event in Washington DC in March 2024, when the top winners in the environment and health categories will be celebrated and the finalists will make in-person pitch presentations to a jury. Up to US$70,000 in grant funds will be given to finalists to help them grow their social companies.
According to Omer Imtiazuddin, managing director of FINCA Ventures, “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.” “We are thrilled to support young entrepreneurs to address urgent global health and environmental issues that we hear from FINCA customers on a daily basis, with the help of our kind sponsor.”
Applications are open here.