The Strive Community Innovation Fund (Big Ideas for Small Businesses)
The Strive Community Innovation Fund aims to spark new ideas for catalyzing small businesses’ resilience and growth, at scale. Seeking innovative solutions to support small business growth at scale.
Strive Community Innovation Fund
The fund 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.
What is the fund looking for?
The fund is looking to test new products, features, services and business models, not fund the scale-up of business-as-usual solutions. They want to test new innovations developed by organizations with an existing track record of working with small businesses, not entirely new entities. They seek solutions that have the potential for impact at scale, not those which are highly sector or market-specific. They will not fund the development of training content or business-as-usual products and services with this fund.
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.
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
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)
- 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
How to Apply
Do you have big ideas for small businesses? Follow the link below to apply for the Strive Community Innovation Fund.
Deadline: 17th December 2021