Applications are now open for the Swavalamban Challenge Fund to support inclusive, innovative and impactful proposals from eligible entities on the selected themes.
Sponsoring Agency: SIDBI
Type of Fund: Grant
Deadline Date (mm/dd/yyyy): 08/21/2021
Size Fund: Less than USD $50,000
Applications are now open for the Swavalamban Challenge Fund to support inclusive, innovative and impactful proposals from eligible entities on the selected themes.
The main objective of SCF is to provide financial support to nonprofit organizations / educational institutions/ social startups which have focus on sustainable livelihood, financial inclusion, and access to financial services and promoting the culture of entrepreneurship. SCF is also open to projects that innovate, create jobs, leverage investments and markets so as to promote resilience and sustainable incomes, in these testing times.
Themes
SCF invites proposals on below mentioned themes:
• Financial literacy and Inclusion (Universal use and access of Financial Services: Behavioral Change, Village Adoption, etc.)
• Livelihoods
o Transitioning from unorganized to organized – Informal to formal, SHG to Micro Enterprise, Nano & Micro enterprise development, etc.
o Non-farm Livelihoods (Agro-processing based Nano & Micro enterprise: Credit connect support, Cluster development, Branding & Market linkages)
o Village Centric Business Services viz- Motor vehicle repairs, Carpenters, Electricians, HH repairs. Skilling cum enterprise setting up shall be preferred.
• Empowerment – Enterprise Promotion
Funding Information
• The upper cap for pilot category project is upto Rs. 20 lakh and for scale-up category is upto Rs. 35 lakh. The total outlay of fund for each window will depend on number of suitable proposals selected in each category.
o Pilot Category: Upto Rs. 20 Lakh
o Scale-up Category: Upto Rs. 35 Lakh
• The amount for exceptionally impactful projects may be increased upto 25% of the total proposed budget.
Eligibility Criteria
Applicants must be:
• Registered society, foundation/section 8/25 companies, trust, development organization, development Agencies who have been in existence with more than 2 years with experience in development sector in India having complied with all the statutory guidelines pertaining to organizational regulations and operations in India.
o Professor with group of students representing educational institutions or in collaboration with NGO/foundation. OR
o Start-ups active in social fields shall be considered on merit basis.
• Have audited its account and finance for at least last 2 FYs (if audited financials for FY 2021 is not available, audited financials for FY 2019 and FY 2020 may suffice). In case of educational institutions/start-ups/MSMEs, the condition can be waived.
More information at: https://scf.udyamimitra.in/
Eligible Countries:
India
