The Mastercard Strive Community Innovation Fund 2022 is now accepting applications.
The Strive Community Innovation Fund seeks to generate innovative ideas for scaling up small company resilience and growth.
They are looking for really unique ideas that can revolutionize small businesses, which are the lifeblood of economies.
The fund will provide up to $1 million in funding for digital and data-first solutions that help small firms with less than 10 workers automate their operations, improve their financial services, and engage more effectively in digital markets.
- Each of the successful applications will get up to $200,000 to develop and test their idea over the course of 12 to 18 months.
- Being a grantee of the Strive Community Innovation Fund allows you to develop and test the most inventive and experimental ideas that you would not have been able to explore otherwise.
- You will have access to Strive Community and Mastercard knowledge, as well as a wonderful chance for visibility and awareness, in addition to money.
Mastercard Strive Community Innovation Fund Requirements
Applicants must meet the following requirements:
- Be a recognized and running an organization with active users for at least two years, with a demonstrated track record of legal and ethical operations and strong job performance.
- Ensure that all business licenses, taxes, employees, and other related requirements are followed in all countries where you operate.
- Maintain compliance with all relevant laws, including basic human rights and international labor standards.
- Be able to demonstrate financial stability by using suitable financial procedures and reporting to Strive Community on a regular basis.
- Have the internal human resource competence to undertake the planned initiative and meet the reporting criteria of Strive Community.
- Not participate in immoral activities such as the manufacture of weapons or the sale of cigarettes.
Eligibility for Organizations
Applicants may include:
- Whether it’s a single organization or a group of organizations,
- Non-profits, social businesses, start-ups, and other organizations are all eligible.
- Corporations, whether domestic or international (subject to matched funding requirements)
Eligibility for the Project
Proposed projects must meet the following criteria:
- Make use of digital and data-driven solutions.
- Possess the ability to have a quantifiable beneficial influence on the success of small businesses
- Propose that it be implemented outside of the United States and Canada.
They will use four simple criteria to select proposals:
- Importance and influence
- Is at least one of Strive Community’s three pillars for small company support: digitizing operations, utilising financial services, and engaging in digital marketplaces, addressed by the project?
- What kind of effect may the initiative have if it succeeds?
- Is there a fit with Strive Community’s key areas of digital and data-first solutions for companies with less than 10 employees?
- Transferability and applicability
- Will this effort encourage others to come up with new ways to help small businesses?
- Is it possible for other groups to benefit from the knowledge and insights gained via this project?
- Is it possible to use, modify, or convey the solution or insights to a larger audience?
- Possibility and long-term viability
- Is the laid-out strategy adequate for achieving the targeted result?
- Is the money sought fair for the planned project?
- Is the project centered on a solution that can be scaled financially?
- Would the novel solution or insights have been accomplished if this financing had not been provided?
- Would this award help to enhance the project’s implementation?
- Is Strive Community’s de-risking of the awardee’s idea generating anything genuinely innovative?
Application for Mastercard Strive Community Innovation Fund
Recommended for You:
- ExxonMobil Graduate Internship for Nurses 2022
- United Nations Paid Internships 2022
- Distell Students Internship Program 2022
- Guaranty Trust Bank OND Internship Programme 2022
- Great Minds Student Internships at IBM Research in Africa and Switzerland 2022
- UNESCO Internship Programme for young Professionals 2022