MICF Business Grants in Malawi for Economic Resilience and Recovery

MICF Business Grants in Malawi for Economic Resilience and Recovery

The Malawi Innovation Challenge Fund (MICF) is currently accepting applications for the Economic Resilience and Recovery Window.

Funding Information

The total grant funds requested must be between US$200,000 and US$ 500,000.

Eligibility Criteria

Firms wishing to apply to the Economic Resilience and Recovery Window of the Malawi Innovation Challenge Fund (MICF) will need to meet the following criteria:

The lead organisation must be a private for-profit company. Only in exceptional cases will MICF consider new businesses (start-ups), where there is strong evidence that the new company has credible and experienced investors and a solid management team.

The business idea must be implemented in Malawi; either by private sector organisations registered in Malawi or externally registered businesses investing in Malawi.

The applicant company may collaborate with other organizations, including nongovernmental organisations (NGOs) and community organisations, and farmers’ organisations.

However, it is a condition that the lead applicant and implementer of the business idea must always be a commercial company/business.

All applicants must demonstrate their capacity to implement their proposed project and will need to demonstrate sound financial performance and clear corporate governance.

Projects applying to the MICF Economic Resilience and Recovery Window are expected to:

Strengthen businesses operating in logistics, distribution and last mile delivery.

Support technology-based solutions for tracking movements of goods, supporting aggregation, traceability, and delivery.

Support businesses that can work with smallholder producers and suppliers to scale and grow products that are likely to experience supply shortages but have potential for future exports.

[For those planning interventions in medical and personal protective equipment sectors, additional technical and advisory support could be made available through Engineers without Borders and UNDP’s Technology Access Platform]

All business projects must be inclusive in nature. They will need to demonstrate their ability to deliver significant benefits to poor households in terms of improved incomes or job creation / retention or by providing affordable products and services, rather than solely benefitting the participating companies / organisations of a particular project.

The funding request must be for a specific, new and innovative business idea. The MICF views innovation in its broadest sense including:

A new approach, product, idea or service that has not been tested anywhere; ii) an approach, product, idea or service that is new to Malawi; or

An approach, product, idea or service that has not been applied to the sector in question in Malawi.

The project promoters including the lead company, collaborating organisations and third parties such as co-investors or banks and other lenders must provide matching funds of at least 30% of the total cost of the business idea.

Contributions can be made through a combination of in-kind and cash contributions and will be taken on a case by case basis dependent on the logic of the individual project proposed.

The project must demonstrate that the activities that will be funded by the MICF will be additional to the company’s existing activities and that the project would not go ahead without MICF funding.

The MICF could also consider projects that if they would have gone ahead, it would be at a much-reduced pace or scale in the absence of the MICF support.

Apply by 30th June.

For more information and application details, see; MICF Business Grants in Malawi for Economic Resilience and Recovery

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