Mastercard Foundation Agribusiness Challenge Fund
The Mastercard Foundation Agribusiness Challenge Fund will be accepting proposals from 18 March 2024 to 22 November 2024, with three application harvest periods in between.
SME applications from any country are eligible as long as they meet the criteria and are implemented in at least one of the 20 focus countries.
Grants from the Mastercard Foundation Agribusiness Challenge Fund range from US$ 500,000 to US$ 2,500,000, disbursed over three years based on development stage, scalability, and business model, in line with agreed milestone targets.
The funding structure will be decided case by case after evaluating proposals and organizations. Successful applicants will also receive tailored technical assistance aligned with Fund objectives over the three-year period.
Also Apply: Call for Applications: Bluerock Accelerator Program | Up to N15 million Investment
CATEGORIES OF INTEREST IN THE Mastercard Foundation Agribusiness Challenge Fund
- Primary production
- Processing and aggregation
- Trading and market linkages
CATEGORIES OF INTEREST WITHIN THE AGRICULTURE VALUE CHAIN
While broadly interested in any agribusiness opportunity that is capable of work creation opportunities for young women and men, those working in these or other parts of the agriculture value chain are encouraged to apply for the Mastercard Foundation Agribusiness Challenge Fund:
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Applicants for the Mastercard Foundation Agribusiness Challenge Fund will be requested to also state and describe if they have integrated climate adaptation, climate mitigation or digital aspects to their projects.
Also Apply: Call for Applications: AgroHack Challenge 2024 | up to one Million naira
ELIGIBILITY CRITERIA: Mastercard Foundation Agribusiness Challenge Fund
To be eligible to apply for the Mastercard Foundation Agribusiness Challenge Fund, an SME must:
- Be involved in the sector of focus i.e. agriculture.
- Be an existing for-profit Small or Medium-sized Enterprise.
- Be implementing business in at least one of the 20 focus countries in Africa.
- Be requesting for grant funding ranging from US$ 500,000 to US$ 2,500,000, disbursed over a three-year period, based on applicants’ development stage, scalability, and business model. Additional tailored technical assistance will be provided to successful applicants.
- Be providing matching contribution of at least 30% of the total project cost.
- Have innovative, practical, and scalable businesses that aim to create work opportunities for young women and men, young people with disabilities or refugee youth.
- Adhere to fundamental human rights, labour standards, and environmental management laws, both nationally and internationally, including seed laws/policy.
- Refrain from any involvement in acts of terrorism or support for terrorist activities.
SELECTION CRITERIA – Mastercard Foundation Agribusiness Challenge Fund
Applications in the Mastercard Foundation Agribusiness Challenge Fund will be selected based on the following criteria:
- Project description and objective
- Alignment with Fund for Resilience and Prosperity priorities
- Project impact
- Financing plan/Matching funds
- Team structure
- Additionality
IMPORTANT DATES: Mastercard Foundation Agribusiness Challenge Fund
Below are important dates and deadlines for the Mastercard Foundation Agribusiness Challenge Fund.
| Agribusiness Challenge Fund periods | Dates |
| Mastercard Foundation Agribusiness Challenge Fund launch:
The rolling call for proposals launched on this date. |
18/03/2024 |
| Harvest 1:
The first collection of submitted applications for assessment occurred on this date, approximately 12 weeks after the opening date of the challenge. |
07/06/2024 |
| Harvest 2:
The second collection of submitted applications for assessment will occur on this date, approximately 12 weeks after the first harvest. |
30/08/2024 |
| Harvest 3:
The third collection of submitted applications for assessment will occur on this date, approximately 12 weeks after the second harvest. |
22/11/2024 |
| Challenge closes after Harvest 3 | 22/11/2024 |
Also Apply: WFP Innovation Challenge: Relief & Resilience 2024 (up to $100,000 in equity-free funding)
Application – Mastercard Foundation Agribusiness Challenge Fund
For details and to apply visit the Mastercard Foundation Agribusiness Challenge Fund official website
Deadline is November 22,2024
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