BY SUPPORTING FINANCIAL INNOVATION
To register in the new format competition for the first time, or to login to work on an application you have started, you can click here.
This Competition will follow a ‘rolling’ format. It will be open throughout the year with applications submitted and evaluated periodically. The first submission period will close for evaluation on August 10, 2017. Unsuccessful applicants will be able to refine and resubmit their applications subsequently, along with new entrants in the competition.
The 2017 Competition seeks to support innovative financial products, services or processes from organizations that will design, pilot and test new ideas, as well as those that aim to expand proven ideas into new geographies or a new customer segment in rural and agricultural areas.
We will be looking for innovation in all applications, be they for new ideas or ideas that are ready for scaling. When considering your ideas, you should address the following questions:
The MasterCard Foundation Fund for Rural Prosperity will only support ideas from institutions looking to deliver a financial service, product or process to smallholder farmers in an eligible African country (see list of countries above).
Projects may be proposed by a single institution or by a partnership of two or more (which could include a non-governmental organization); however, the lead applicant must be a for-profit entity.
Firms that apply should have an established and verifiable institutional track record. The Fund will only consider start-ups in exceptional circumstances where there is strong evidence that the new company has credible and experienced investors and management team.
Firms that apply should have transparent ownership and governance structures.
Examples of institutions that are eligible include:
Please note that this list is not exhaustive. We are looking for applications from institutions that have a financial service offering.
Summary of Eligibility Criteria
Eligible projects under The MasterCard Foundation Fund for Rural Prosperity are required to meet the following criteria:
For a quick reference to some of the common questions being asked about The MasterCard Foundation Fund for Rural Prosperity, please click here.