Applications Open for 2016 Innovation Competition by MasterCard Foundation Fund for Rural Prosperity

Deadline: 28 March 2016

Applications are open for the 2016 Innovation Competition by Mastercard Foundation Fund for Rural Prosperity.

The competition aims to transform lives of people by supporting Financial Innovation.

The MasterCard Foundation Fund for Rural Prosperity is a US$50 million challenge fund to extend financial services to people living in poverty.

Is your idea innovative?

  • The ideas will be judged on the basis of following questions:
  • What is the potential for the proposed idea to change access to financial services in rural Africa?
  • In what way is the proposed idea new? Is it new to the financial services sector, new to the country, new to the continent? Perhaps it is even a first in the world?
  • To what extent does the proposed project reach financially underserved markets?

Eligible Countries: Benin, Burkina Faso, Burundi, Cameroon, Côte d’Ivoire, Djibouti, DRC, Ethiopia, The Gambia, Ghana, Kenya, Liberia, Madagascar, Malawi, Mali, Mozambique, Niger, Rwanda, Senegal, Sierra Leone, Tanzania, Togo, Uganda, Zambia.

Eligibility Criteria

  • The MasterCard Foundation Fund for Rural Prosperity will only support ideas from institutions looking to deliver a financial service, product or process to rural poor people in an eligible African country mentioned above.
  • Projects may be proposed by a single institution or by a partnership of two or more of them (which could include a non-governmental organization); however, the proposal must be made by one company acting as the lead organization.
  • Firms that apply should have an established and verifiable institutional track record.

How to Apply

Interested applicants can register for the competition via given website.

For more information, please visit 2016 Innovation Competition.

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