How to Apply for the Agribusiness Challenge Fund by 22nd November 2024

Overview of the Agribusiness Challenge Fund

The Agribusiness Challenge Fund is a unique opportunity for small and medium-sized enterprises (SMEs) in the agriculture sector to secure substantial financial support. Open from 18th March 2024 to 22nd November 2024, the fund aims to foster innovative and scalable agribusiness projects across 20 focus countries in Africa. SMEs from any country can apply, provided their projects meet the eligibility criteria and are implemented in at least one of these target countries.

Funding and Support Available

The fund offers grants ranging from US$ 500,000 to US$ 2,500,000, disbursed over a three-year period. The amount and structure of the funding depend on the applicant’s development stage, scalability, and business model. Additionally, successful applicants will receive tailored technical assistance aligned with the fund’s objectives, ensuring comprehensive support throughout the project duration.

Eligibility Criteria

To be eligible for the Agribusiness Challenge Fund, an SME must meet the following criteria:

  • Be involved in the agriculture sector.
  • Be an existing for-profit SME.
  • Implement business in at least one of the 20 focus countries in Africa.
  • Request grant funding ranging from US$ 500,000 to US$ 2,500,000.
  • Provide a matching contribution of at least 30% of the total project cost.
  • Have innovative, practical, and scalable businesses that create work opportunities for young women and men, young people with disabilities, or refugee youth.
  • Adhere to fundamental human rights, labor standards, and environmental management laws.
  • Refrain from involvement in acts of terrorism or support for terrorist activities.

Application Process

The application process is designed to be comprehensive, with three application harvest periods between March and November 2024. Proposals will be evaluated based on their alignment with the fund’s objectives, and funding will be tailored to each project’s specific needs. SMEs interested in applying should visit the official website for more information and detailed application guidelines: Agribusiness Challenge Fund.

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