First LuxAid Challenge Fund call for projects launched in the Sahel!
The LuxAid Challenge Fund is a new initiative by the Luxembourg Cooperation aimed at accelerating impact-driven innovations led by startups. Through this call for proposals, Burkinabe, Malian, and Senegalese companies developing solutions in the field of food security or distance learning will benefit from co-financing ranging from 50,000 to 140,000 euros (approximately 30 to 90 million FCFA).
Addressing major societal issues
The LuxAid Challenge Fund aims to tackle major societal challenges in these countries. We’re paving the way for improved access to education through groundbreaking digital solutions and innovative training methods. Additionally, we’re taking a stand against food insecurity by, for instance, fortifying local food systems or pioneering alternative protein production methods like hydroponics and precision agriculture.
Supporting innovative early-stage solutions
LuxAid Challenge Fund targets companies that are:
- in the early stages, registered for 1 to 5 years;
- with at least 2 employees;
- that have already tested their product/service on the market and thus have generated initial commercial revenue;
- able to partially co-finance their project.
Prepare for a transformative journey! The LuxAid Challenge Fund is committed to empowering your growth and impact objectives through strategic financial backing. From marketing initiatives to equipment acquisition and team development, we’re dedicated to amplifying your potential. Our overarching mission is to catalyze sustainable solutions and attract further investment, fostering widespread benefits for local communities. Join us as we pave the way for enduring change and progress.
Applications open until January 8
As part of this call for proposals, interested companies are invited to submit their application on the submission platform before January 8th, 2024. The 15 shortlisted candidates in each country will advance to the next stage, where they’ll have the chance to pitch their projects before a national selection committee in March. From there, the top contenders in Burkina Faso, Mali, and Senegal will showcase their initiatives to an international selection committee, vying for a share of the one million euro budget allocated to the sub-region. Final decisions to be announced in May 2024.
For more information: https://bit.ly/LuxAidCF
