Application Deadline: December 17th, 2021
The Strive Community Innovation Fund aims to spark new ideas for catalyzing small businesses’ resilience and growth, at scale. Strive is seeking truly innovative solutions that can be transformative for these small enterprises which are the backbone of our economies.
The fund makes available up to $1m for digital and data first solutions that enable small businesses with fewer than 10 employees to digitize their operations, better use financial services, or participate more effectively in digital marketplaces. Successful applicants will each receive up to $200,000 to develop and test their innovation over a 12 – 18 month period.
ELIGIBILITY
Project eligibility
Proposed projects must:
- Leverage digital and data first solutions
- Have potential for measurable positive impact on small business growth
- Propose implementation outside of the US and Canada
Organizational eligibility
Applicants can be:
- Single organizations or a consortia of multiple organizations
- Non-profits, social enterprises, start-ups, and others
- Companies or multinational corporations (subject to matched funding requirements)
Due diligence requirements
Applicants must:
- Be a registered and operating entity with active users, with a proven track record of legal and ethical operations and good work performance for at least 2 years
- Be fully compliant with business licensing, taxation, employee and other relevant regulations in all countries of operation
- Be compliant with all applicable laws including adhering to fundamental human rights and all international labour standards
- Be able to prove financial health with adequate financial systems to report regularly to Strive Community
- Have adequate internal human resource capability to implement the proposed project and comply with Strive Community’s reporting requirements
- Not be engaged in unethical activities such as arms production or tobacco
Benefits
Being a Strive Community Innovation Fund grantee is your opportunity to build and test the most innovative and experimental solutions that you may not have otherwise been able to pursue. In addition to funding, you will have access to Strive Community and Mastercard expertise, as well as a great opportunity for exposure and publicity.
Funding
Mentorship
Visibility
Timeline:
- APPLICATIONS OPEN: November 1, 2021
- APPLICATIONS CLOSE: December 17, 2021
- SHORTLISTED APPLICANTS SELECTED: January 14, 2022
- SHORTLISTED APPLICANTS SUBMIT MINI PROPOSALS: February 4, 2022
- FINALISTS SELECTED: March 4, 2022
- FINALISTS LIVE PITCH: March 21, 2022
- WINNERS SELECTED: March 25, 2022
For More Information:
Visit the Official Webpage of the Strive Community Innovation Fund