Fund’s target customer: “Late start-ups”.
Market emphasis: Financial solutions especially those utilizing arising innovation as an example mobile cash and also “branchless” financial, social networks and also cloud computing.
Quantities supplied: $100,000 – $300,000.
Financing kind: Financial backing (Method, as opposed to giving a finance, the fund takes a % of shares in the target firm, could additionally do exchangeable financial debt that is a landing that could be developed into shares.).
Cutting-edge versions from a business that are establishing video game altering modern technologies and also turbulent organization versions that will certainly supply monetary solutions to individuals at the base of the pyramid( BOP); and also.Required not have substantial earnings however must be postedr & d, afull-time group in position and also preferably a pilot/prototype on the market.
Exactly what is the application procedure like?
The fund was just recently released in April 2012 therefore there is no clear info offered yet the assumption of the procedure is:.
- Send out the firstemail to Nicky Khaki the East Africa called.
- entry of an exec recap to highlight the chance and also the funding demand.
- Entry of comprehensive strategy, due persistence as well as a website see to make certain the group remains in thearea.
Exactly what are my view/tips for success in accessing the resources?
Excite: The endeavor laboratory is a “speculative task” and also so is looking for the “Following huge point”. I think that the organization plan/executive recap you send need to reveal exactly how you are accepting new/emerging modern technology to fix Uganda’s issues.
- Marketing research. As the group is eager for modern technology that has actually been evaluated as well as a version beginning to operate in the marketplace, you have to show proof of screening in the Ugandan market.
- Scalability.Considering the job Accion does worldwide in the area of Micro Finance Company, a great version will certainly have to reveal that it could be duplicated, inexpensively, ideally in various other rising economic climates and also for the advantage of the “poorest of the inadequate” the emphasis of a great deal of microfinance.