Posted: Thursday June 09, 2011 10:01 AM BT
SME Finance Innovation Challenge Fund (SME Finance ICF) has issued this challenge to financial service providers (banks and non-banks) to test and develop innovative business models that will deliver new products and better services to underserved SME clients.
The SME Finance ICF is
a risk-sharing mechanism. By financing up to half of the cost of developing new services, FSDT seeks to encourage financial
innovation. Ideas that might otherwise be too risky to attract commercial operators will be worth undertaking. This could involve new technologies, better credit scoring, creating links with service providers in order to reach previously un-served businesses, opening up new service channels and devising creative marketing and customer service strategies.
Target audience
The ICF opportunity targets financial institutions, not SMEs themselves. Financial institutions may wish to partner with service providers from outside the sector and this would be eligible for support. FSDT looks to support projects testing innovative concepts, technologies and business models;
not to finance normal course of business or on-lending.
Awards and Call for Applications
Grant awards will be made through a two-stage competitive process, in the range
US$ 500,000 to US$ 100,000. Decisions will be guided by an independent panel.
For
more information and to access application forms, together with guidance notes for applicants and FAQs,
go to:
http://www.fsdt.or.tz/index.php/finscope/SME_Finance_Innovation_Challenge_Fund/ or email us at:
(JavaScript must be enabled to view this email address).
Presentations from the launch event can be downloaded here:
CRM_Presentation,_SME_ICF_LAUNCH,_8_June_2011.pdf
