The United Nation Development Program (UNDP), the Human Development Innovation Fund (HDIF), and the Embassy of the Netherlands in Tanzania have launched the Recovery and Resilience Innovation Challenge, to revitalize the Tanzanian economy and its resilience in the face of the global COVID pandemic.
The aim of this challenge is to showcase, coach, and ultimately award the best small businesses with innovative products, services, or business models that are in their nature resilient to market shocks, or contributing to their respective sectors’ recovery.
The program will onboard 20 Tanzanian youth entrepreneurs with innovative, market-ready solutions. From this cohort, 10 entrepreneurs will be awarded funding and a three-month follow-up program.
“Special preference in this challenge will be given to youth and women-owned businesses. Participating businesses must use innovation to address gaps observed during the COVID-19 crisis, and present solutions that will make them and the sector they operate in more resilient to future crises. The innovations should be beyond the idea stage, and must have been already piloted in Tanzania and be ready for scaling”, Joseph Manirakiza, HDIF Country Director, explains.
“The Netherlands supports this initiative exposing and awarding potentially highly resilient innovations in COVID-times that could function as role models for others and for the sector they operate in on how to become more resilient in future shocks”, Lianne Houben, Deputy Ambassador of the Netherlands, adds.
“UNDP believes that supporting the youth in Tanzania to innovate and become successful entrepreneurs, create economic development, and foster self-reliance. We are proud to fund programs like this and continue to seek to channel financing in support of Tanzanian innovators and the growth of a young and vibrant private sector”, Christine Musisi, Resident Representative for UNDP, concludes.
The deadline for applications is 31st December 2020.