⇓ Details of ICTworks
by Wayang Vota upon February 19, 2024
Promoting competitive, innovative and secure markets for internet connectivity and digital financial services in low- and middle-income countries is critical to economic growth, digital inclusion and innovation.
Competitive Internet connectivity networks can help bridge persistent digital divides and ensure that more people have access to the benefits of the digital economy, such as online education, healthcare, and e-commerce. An interconnected economy can boost GDP and create new markets for products and services.
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When emerging markets have access to digital financial services, local entrepreneurs can develop solutions tailored to their unique challenges, often leading to breakthrough innovations that can be scaled globally. For example, mobile money solutions like M-PESA began as a regional solution to an African problem. Mobile money is now a global service with proven anti-poverty capabilities.
Internet Access and DFS Catalyst Capital
Digital Invest is a USAID program that provides highly customized support to private internet infrastructure developers who facilitate internet connectivity and fund managers who accelerate digital financial services in emerging markets.
Digital Invest provides targeted, risk-tolerant catalytic capital to increase Internet Service Providers (ISPs) and Digital Financial Services (DFS) and support underserved consumers and businesses around the world. four $500,000 grants.
The blended finance approach prioritizes the use of impactful, catalytic and market-driven grant funds, including:
- project funds,
- Support for capital requirements in the event of first loss;
- Replenish subsidies to existing portfolio companies
- Technical assistance to accelerate the success of individual companies
- Appropriate operating and transaction costs
This call prioritizes increasing access to finance, supporting the growth of safe and trusted technology service providers, and prioritizing consumer protection and cybersecurity in all partnerships. The program promotes competition and choice, ensuring emerging market countries have safe alternatives to authoritarian-backed tech companies, infrastructure, and platforms.
Apply now!Deadline is April 15, 2024
Further funding opportunities
Want to apply for USAID grants for humanitarian aid projects? Get startup investment for your technology business? Or learn how to win more contracts? Sign up now to stay up to date with Receive information via email. We are constantly publishing new funding opportunities, including:
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File: connectivity, funding
For more information: digital financial services, financial inclusion, subsidies, internet access, internet bandwidth, ISPs, mobile financial services, private sector partnerships, public-private partnerships, USAID
