230530 - TZA - Funguo Innovation Programme 2nd Funding Round
The United Nations Capital Development Fund (UNCDF) makes public and private finance work for the poor in the world’s 46 least developed countries. With its capital mandate and instruments, UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development.
The Funguo Innovation Programme (also simply referred to as FUNGUO) is a UNDP Initiative funded by the European Union as part of the “Business Environment, Growth and Innovation” (BEGIN) Programme. Other funders include UNDP itself and the UK Government through the Africa Technology and Innovation Partnerships (ATIP). The programme aims to increase the number of successfully scaled innovative startup companies. It does so by addressing the challenges and gaps in the innovation ecosystem that hinder the scaling of innovative impact ventures, while fostering an environment that supports innovation for development and empowers innovators, entrepreneurs, and enablers. UNDP Tanzania leads the programme implementation in partnership with UNCDF, and works in close collaboration with COSTECH, ICT Commission among and other partners.
After the successful launch and execution of the 1st funding round which resulted in 26 impact-driven startups, FUNGUO is pleased to announce its second call which considers lessons learned and feedback received.
Through this Request for Applications (RfA), FUNGUO continues to identify legally registered impact-driven startups and scalable innovative SMEs, majority-owned by Tanzanians. As a conscious effort to encourage and promote women innovators and entrepreneurs, at least 30% of the funds available for this round will be exclusively reserved for women-founded or women-led startup companies.
The geographic scope of the intervention is the country of Tanzania. To be eligible, applicants must be registered and operating in Tanzania.
Selected applicants will sign a Performance-Based Agreement (PBA) with UNCDF.
FUNGUO’s contribution will be in form of an equity-free responsible grant ranging from TZS 50 million to TZS 100 million. FUNGUO will award up to 28 applications depending on the requested amount, compliance with eligibility, and selection criteria. Applicants must apply independently.
For more information, click here to download the RFA document.
For info sessions regarding the RFA, please register via this link: https://forms.office.com/e/UhJcM3HiHA
The application window is open from 30th May 2023 and will close at 11:59 PM EAT on 30th June 2023. All applications must be submitted through UNCDF e-investment platform: https://apply.uncdf.org/prog/funguo2/
However, please visit UNCDF’s Apply platform to check if the deadline has not been extended.