Innovations Against Poverty is designed for companies which are based or operate in a poor country. The programme functions as a risk sharing mechanism for sustainable business ventures (commercial companies or market oriented organisations) which have a strong potential to reduce poverty.
First, the programme focuses on smaller organisations which have a wealth of good ideas with great potential, but need the support of their business strategy and resources to penetrate new markets.
Second, Innovations Against Poverty also seeks to work with larger companies, to help support the development of “inclusive business” models for these markets, which expands opportunities for the poor and disadvantaged in developing countries. Such business models can engage the poor as employees, suppliers, distributors and consumers.
Companies can be active in all sectors where innovation leads to poverty reduction, from agriculture and infrastructure to health and education. The only exceptions are companies involved in arms, tobacco and gambling industries.
Companies can apply for financial support from two different modules aimed at different stages of the innovation and development path.
• Small Grants
Innovations Against Poverty can provide a matching grant (maximum 50% of total project- cost) up to € 20,000 for the purpose of exploring an innovation or a new market. The grant can be used for travel and pre-feasibility studies, stakeholder needs assessments, or for net- working with local organistions.
Applicants compete for available grant resources twice a year.
• Large Grants
Innovations Against Poverty can provide a matching grant (maximum 50%) between € 20,000 and € 200,000 to a company for the purpose of undertaking a project aimed at – a new product, service, system, business model or a concept ready to be put to market test, or adaptation of existing products to be affordable and accessible by the poor. Applicants compete for available grant resources twice a year in this case as well.