Disclaimer

I am not an agent nor am I connected to this entity. The information provided below is independent and based on my research and experience. While I have taken steps to ensure the accuracy of the information presented here, I cannot guarantee that it will remain accurate.

Basic information

Target client of the fund: “Late startups.”

Sectoral approach: Financial services, particularly those using emerging technology, for example, mobile money and “branchless” banking, social media and cloud computing.

Quantities Provided: $100,000 – $300,000

Type of financing: risk capital (It means that instead of granting a loan, the fund takes a % of the shares of the target company, you can also make convertible debt which is a loan that can be converted into shares.)

Key criteria:

• Innovative business models that are developing innovative technologies and disruptive business models that will provide financial services to people at the bottom of the pyramid (BOP); and
• You don’t need to have significant income, but you must be post research and development, full time team on site and ideally a pilot/prototype in the market.

More information:

Search online for fund information or contact the East Africa contact: [email protected]

Who is behind the background?

Accion is a private, non-profit organization that is a pioneer in microfinance. It was founded in 1961.

What is the application process like?

The fund was recently launched in April 2012, so no clear information is available, but the expectation of the process is:

1. Send an initial email to Nicky Khaki, the East Africa contact.

2. Presentation of an executive summary to highlight the opportunity and the need for financing.

3. Submission of detailed plan, due diligence, and site visit to ensure equipment is in place.

What are my points of view/advice to succeed in accessing the capital?

1. Print:The Hazard Lab is an “experimental project” and so is the search for the “Next Big Thing”. I think the business plan/executive summary you submit should show how you are embracing new/emerging technology to solve Uganda’s problems. It must not be conservative, but must balance the futuristic vision with the practical aspects.

2. Market research. As the team is interested in technology that has been proven and a model starting to work in the market, it must show evidence of trials in the Uganda market.

3. Scalability.Taking into account the work that Accion does around the world in the field of microfinance, a good model will need to demonstrate that it can be replicated, at low cost, preferably in other emerging economies and for the benefit of the “poorest of the poor”. , the focus of many microfinance.

While I provide the tips above, you should keep in mind that some basic key information applies to all apps. This includes things like the plan includes an executive summary, is error-free, is in an easy-to-read format, and the like.

Otherwise, best of luck.