Deadline: 1 October 2018

Applications are open for Microenterprise Fintech Innovation Challenge Fund.

The limited use of digital business solutions among microenteprises in Indonesia limits the opportunities for growth and restricts a potential increase in financial inclusion.

The lack of digital solutions leads to inefficiencies across the business value chain, including payments procedures, supply chain integration, bookkeeping, and financial capabilities.

Goals

• To promote and accelerate usage of digital technology solutions for microenterprises in Indonesia that result in increased use of financial services to support productivity, efficiency, income and/or employment.
• Challenge Fund grant funding will focus on projects which can deliver customized products and technological solutions, catering to the diversified business needs of microenterprises. The Challenge Fund is committed to expanding the role of women entrepreneurs in microenterprises, and so will give preference to projects specifically focusing on women-owned and/or led microenterprises.
• Eligible applicants are welcome to submit a proposal to pilot test an innovative technological solution that seeks to address a potential challenge related to microenterprises.

Funding Information

The UNCDF SHIFT and UN Pulse Jakarta Challenge Fund is targeted at solutions that are ready for pilot testing and will provide up to $50,000 of co-funding to selected projects.

Eligibility Criteria

• Eligible applicants who can apply for the Challenge Fund Window include: regulated Financial Institutions (Banks, MFIs); Payment Service Providers; Agent Banking Aggregators; Mobile Network Operators; technology providers; E-commerce platform providers; Manufacturing and trading related companies; FinTech companies and tech start-ups.
  • Companies with an innovative technological solution for the microenterprise sector that is ready for pilot testing in Indonesia.
  • The applicant can be based anywhere globally, but the project must be implemented and target microenterprises in Indonesia.
  • Joint proposals between market players with a technological solution for microenterprises are encouraged to apply.
  • The applicant must be a registered entity.

How to Apply

Applicants can apply online via given website.

For more information, please visit Microenterprise Fintech Innovation Challenge Fund.