The U.S. African Development Foundation (USADF) and All On, an impact investing & energy innovation organization, invites Nigerian owned start-ups to submit proposals for innovative off-grid solutions to “power up” undeserved areas of Nigeria. Applicants should be developing, scaling up or extending energy technologies to off-grid areas of Nigeria.
According to the World Economic Outlook 2016, an estimated 1.2 billion people – 16% of the global population – did not have access to electricity whilst many more suffer from supply that is of poor quality and inconsistent. More than 95% of these people are found in Sub-Saharan African countries and developing Asia, and they are predominantly in rural areas (around 80% of the world total).
The USADAF-All On project seeks to achieve increased electrical generation to unserved and undeserved communities through sustainable business model solutions; expand electricity access delivered through off-grid solutions; as well as increase access to electricity for productive and/or household use. Emphasis is also given to the delivery of power to productive or commercial activities including agricultural production and processing, commercial enterprises, and others.
Eligibility criteria to be considered for the Challenge, applicants must be 100% African-owned, majority Nigerian-owned and -managed private companies registered in Nigeria and must be operating in Nigeria.
Winning applicants will receive:
Proposals of up to US$100,000 in 50/50 blended grant/ debt or equity per award will be considered and approximately ten awards are anticipated
– An investment in the form of a convertible loan at an affordable interest rate and/or an equity investment
– Seed capital in the form of grant funds
– Access to intensive local technical assistance and governance support
For more details, click here
Deadline of application is March 15, 2019; Register today!