Strive Community Innovation Fund for Solutions to Support Small Businesses’ Growth ($1m Total Grants)

Award/Grant Strive Community posted 10 months ago

Opportunity Description

Strive Community Innovation Fund seeks innovative solutions to support small businesses development in the areas of Data for Market Access and Environmental Sustainability. Solutions that use data to support businesses reach more customers and solutions driving positive impact for small businesses, and the environment is most welcome to apply.

Winners will receive up to $150,000 fund to develop and test their solutions within a 12- to 18-month period. Additionally, the winners will have access to Strive Community and Mastercard expertise, plus an excellent opportunity for publicity and exposure.

Startups, social enterprises, established companies, non-profits, academic institutions, or other organizations can submit a solution. Please note that the Community does not fund government units and entities.

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The applicants should implement their submitted project outside of the USA and Canada. Candidates can apply as single entities or as a group of multiple organizations.

What does the Strive Community Specifically Look for?

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Strive Community wishes to test new products, services, features, and business models that help organizations better support small businesses. Applying units must have worked for at least one year before applying. The Community does not fund the development or delivery of training programs.

Brief Details

Applications Close: 26 May 2023

Shortlisted Applicants Selection: 19 June 2023

Mini Proposals Submissions Selectees: 7 July 2023

Finalist Selected: 31 July 2023

Finalists Applicants Pitch: 14 August 2023

Winners Selected: 28 August 2023

Organizer: Strive Community

Eligible Countries: All

Duration of the Project: 12 to 18 Months

Grants Detail

The total grant amount from Strive Community is $1m, and each winner will receive up to $150,000 fund to develop and test their solutions within a 12- to 18-month period. Additionally, the winners will have access to Strive Community and Mastercard expertise, plus an excellent opportunity for publicity and exposure.

Who Can Apply for the Strive Community Innovation Fund?

There are different eligibility criteria for the projects, organizations, and applicants:

Proposed projects must:

  • Support businesses with less than ten employees
  • Power digital and data-first solutions
  • Be implementable outside of US and Canada

Organizations can be:

  • Single organizations or a group of multiple organizations
  • Startups, non-profits, established companies, social enterprises, academic institutions, or other types of organizations, excluding government entities
  • Companies or multinational corporations subject to fulfilling funding requirements

Applicants should be:

  • Be an operating and registered entity with active users and provide a track record of legal and ethical operations plus good work performance for at least one year
  • Be thoroughly familiar with taxation, business licensing, employee, and other relevant guidelines in all countries of operation
  • Should know applicable laws, including fundamental human rights and all international labor standards
  • Prove financial capability with enough financial systems to provide regular reporting
  • Have enough internal human resource experts to implement the project and comply with Strive Community’s reporting requirements
  • Must not be involved in unethical activities, including arms production or tobacco

Selection Criteria

To select proposals, the Strive Community uses four simple criteria as follows:

  • Significance and Impact
  • Applicability and Transferability
  • Feasibility and Sustainability
  • Additionality

Application Procedure

The application procedure is entirely online, and candidates can submit their applications by starting at the link below.

 

Apply Now

 

Please refer official website of Strive Community to learn about this Innovation Fund.

 

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