Application & Selection Process
This is a call for proposals for the Business Innovation Challenge. The applications will be evaluated by a team of reviewers who will select 10 finalists. The finalists will present their innovations to a team of judges who will then select up to 5 winners.
To enter the Business Innovation Challenge, applicants must provide the information requested following the instruction and submit the online application form.
All submitted proposals will be evaluated on a rolling basis by the review team against the selection and eligibility criteria. The 10 applications that receive the highest overall scores, will be selected to participate in a pitch event. Successful applicants will receive an email communication message indicating that they have been invited to the pitch event.
Shortlisted applicants will be required to submit additional business and compliance documentation. The requested documents will include: Business plan, marketing collateral, partnerships, contracts with suppliers and customers, shareholding structure, audited financial statements, financial projections for the next 3 years, disclosure of any grant funding, Term sheet legal documents on debt or equity financing into the company, and Tax compliance information.
The shortlisted candidates will pitch their innovations to a panel of selection judges at a pitch event in Nairobi. The selection judges will evaluate each pitch based on the eligibility and selection criteria. Up to 5 applications will be selected as the Business Innovation Challenge Winners and announced at the pitch event and on this website.
Due Diligence and Contract Design
The Kenya Catalytic Jobs Fund review team will conduct financial, legal and operational due diligence on the Business Innovation Challenge Winners. The team will also conduct an in-depth needs assessment to determine the type and extent of technical assistance required.
The Business Innovation Challenge Winners will receive grant funding and technical assistance worth, in total, up to £100,000.
Watch out for Innovation Challenge 2020!!
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