2010 MIF competition for innovative financial solutions

The Agence Française de Développement (AFD), the Bill & Melinda Gates Foundation, and the World Bank will co-host an international Marketplace on Innovative Financial Solutions for Development (2010 MIF) to be held in Paris on March, 4-5 2010.

The 2010 MIF will be dedicated to smart, fine-tuned, innovative financial mechanisms for mobilizing, channeling, and spending funds for development issues. The event will bring together development practioners, donors, philanthropists, social entrepreneurs, academics, representatives from across a range of financial institutions and policy makers to exchange experience and ideas on innovative development finance solutions. The event will be structured around workshops and a marketplace where innovators can showcase their initiatives and projects. The main objectives of the event are to:

The main objectives of the event are to:

• advance the agenda on innovative financial solutions for development;
• facilitate knowledge sharing and learning, including South/South learning, on innovative financial solutions for development, what works and what doesn’t , and how to design solutions to maximize development impact and cost-effectiveness; and
• spur the evolution of cutting-edge projects that apply innovative financial mechanisms to development challenges.

The Competition

A key feature of the 2010 MIF will be a competition to garner and highlight fresh ideas on how innovative financing mechanisms can be used to solve development challenges at the local, country, regional, or global levels, with the goal that successful innovations can be scaled up and replicated.
The winners will be awarded pilot grants of up to US$100,000 to assist them in the implementation of their proposals.

Proposals are welcomed from all organizations involved in innovative finance focused on development, including financial institutions, private-sector companies, social enterprises, non-governmental and civil society organizations, government agencies, universities and other academic organizations, foundations, and development organizations. Guidelines and application forms can be accessed on the 2010 MIF website: www.fininnov.org

Proposals must be submitted by November 15th 2009.

For further informations, please contact: info@fininnov.org

SOVEC - Social Venture Capital

From their site:

SOVEC is an investment fund set up by Dutch entrepreneurs, to invest in small and medium sized companies (SMEs) in Africa.

SOVEC therefore supports local entrepreneurs by investing capital and committing its own network of entrepreneurs who are prepared to invest their time, energy, expertise and business contacts. This helps entrepreneurs in Africa to build their businesses and create job opportunities.

Lebone - off grid energy delivery in Africa

Lebônê Solutions, Inc. is a social enterprise working in off-grid energy delivery and lighting technology. The mission of Lebônê is to end the energy and lighting crisis in Africa by identifying and harnessing emerging technologies, developing and adapting them for the African market, and delivering them to rural villages in an innovative and accessible manner.


The Problem

There is currently a dramatic shortage of electrical power in Africa. One billion Africans, constituting a sixth of the world’s population, generate only 4% of global electricity. In most African countries, 95% of the population is living off-grid with no access to electricity (World Bank Millennium Goals Report, 2006). This has a devastating effect on socio-economic development, education, health, and safety. Imagine a village at night in which students are walking to distant highways to study under streetlights, where small merchants are investing half of their resources to pay for kerosene lighting to run their operations, and where emergency health workers, if operating at all, are trying to stitch up wounds and perform surgeries by candlelight. Lack of energy is one of the Africa’s biggest obstacles to development, and a major deterrent for foreign investors.