BY SUPPORTING FINANCIAL INNOVATION
There are currently no active competitions for support accepting applications. The fourth and final call ended on 31 January 2018.
This competition took on a rolling format with intermediate closing points for assessment of applications in batches. This gave unsuccessful but potentially good applications in one round the opportunity to refine and resubmit their applications, along with new entrants in the competition. The first submission period closed for evaluation on 10 August 2017, the second on 5 October 2017, the third on 30 November 2017 and the fourth and final call closed on 31 January 2018.
The 2017/2018 Competition sought 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.
Innovation was a key factor in all applications, be they for new ideas or ideas that are ready for scaling. Applications were required to address the following questions:
Mastercard Foundation Fund for Rural Prosperity only supports 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. Applications from institutions that have a financial service offering are also considered.
Eligible projects under the Mastercard Foundation Fund for Rural Prosperity were required to meet the following criteria:
Download the Rolling competition brochure.
For a quick reference to some of the common questions being asked about the Mastercard Foundation Fund for Rural Prosperity, please click here.