green-innovation-challenge-2021-for-ghanaian-entrepreneurs-and-green-smes

Application Deadline: 18 July 2021 at 23:59 GMT.

The Boosting Green Employment and Enterprise Opportunities in Ghana (GrEEn) project Innovation Challenge is a yearly competition aimed at supporting SMEs and businesses that have outstanding, innovative green ideas. The Challenge forms part of GrEEn’s objective of supporting entrepreneurs and green SMEs to increase their operations. For its 2021 edition, a total of up to EUR 25,000 per SME will be awarded in the form of matching grants to 8 selected SMEs.

Objectives

• Promote the green and circular economy in Ghana
• Promote green product/service innovation
• Contribute to the creation of green jobs whilst strengthening the business skills of green entrepreneurs
• Improve access to the market for green products by highlighting and showcasing green businesses and SMEs and supporting the operations and sustainability of green SMEs

The GrEEn Innovation Challenge will have the following key elements:

• Matching grants will be awarded as co-investments through a competitive process
• Provide up to €25,000 of the total required investment for the proposed initiatives on an 80:20 basis
• Investment size will depend on the level of innovation, commercial viability, environmental and social impact potential of the selected initiatives

Eligibility criteria

• The solution must be economically viable either in the form of a social or for-profit business
• The solution must have a positive impact on the climate, environment and community
• SMEs must be located in the Ashanti or Western Regions or have operations in the regions (for instance as a source of input or with an operational office). SMEs must have been operating in the Ashanti or Western regions for at least a year
• The solution must be in the Water, Sanitation and Hygiene (WASH), Renewable Energy and Energy Efficiency and/or Agriculture sectors
• The solution must have been developed and ready to go to market (at least a working prototype or demo) or already on the market with existing customers
• The lead entrepreneur must be between 18-35 years. Women entrepreneurs can be older than 35 but no older than 40 years
• Priority will be given to businesses led by women-led and/or returning migrants

Financial requirements

• The GrEEn Challenge Fund will contribute up to €25,000 of the funds needed for the proposed initiative for eight (8) SMEs
• The SMEs will co-invest on a 20:80 basis with cash and in-kind contributions
• The SMEs are required to have at least 10% equity as their co-investment. Any in-kind contribution must be specific and directly related to the project
• The cash contribution can be recently procured direct capital expenditure (equipment, physical assets etc) or project operational expenses

Targeted regions

• Ashanti and
• Western regions

Application process

The application process is as follows:

1. Apply for the GrEEn Innovation Challenge through its online application portal here.
2. Complete the online application by sharing a link to a 30 seconds (max) video/demo of the business/solutions to [email protected]before submitting your online application. Video can be uploaded to an accessible cloud drive or on YouTube

For More Information:

Visit the Official Webpage of the GrEEn Innovation Challenge 2021