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The Business Finance for the Poor in Bangladesh (BFP-B) Challenge Fund invites applications to launch cutting-edge innovations that can improve financing opportunities for the country’s small businesses.

The innovation system is at a relatively nascent stage of development in Bangladesh. The ability to capture cutting-edge Bangladeshi driven solutions for financial deepening and innovation will likely appear from smaller firms developing or bringing and adapting ideas from around the globe.

BFP-B plans to engage with budding entrepreneurs to prototype untested ‘out of the box’ B2B solutions which can impact micro and small enterprises in Bangladesh. BFP-B will extend a gamut of services to shortlisted applicants:

  • 3-5-day on-site bootcamp
  • Human centred design ideation
  • Mentorship by relevant local and international subject experts
  • Matching grant up to GBP 100,000

BFP-B welcomes ideas under the following themes (but not limited to)

Window 1: Investment readiness

Investment readiness deals with third party B2B solutions that address the problem of readiness of small businesses and the confidence of Financial Institutions to finance (Banks, Non-Bank Financial Institutions and Micro-Finance Institutions). 

Window 2: Last mile distribution

Last mile distribution deals with direct B2B solutions that make established distribution channels become more customer-centric and efficient. 

Window 3: Alternative financial platforms and instruments

The alternative financial platforms and instruments deals with B2B solutions that enable businesses to share or transfer risks, for example, access to equity and insurance to finance their business. 

If your organization has plans to prototype and test out innovative products and services which can impact under-served small business in Bangladesh, follow the instructions below, and submit a 5 minute video pitch.   

Who is eligible to apply for Bootcamp

  • The lead organisations must be a private for-profit company or financial institutions operating in Bangladesh
  • Organisations must be operating in Bangladesh for at least one year
  • All projects financed by BFP-B must be aimed at MSEs
  • The project promoters including the lead company/ financial institution, collaborating organisations and third parties such as co-investors and other lenders must provide matching funds of at least 50% of the total cost of the business ideas
  • Lead organisations should be able to start project implementation from 1 December 2018. BFP-B will provide support to winning organisations for six months

How to apply

Interested applicants will have to have submit their initial pitch to BFP-B through an application form and video pitch. Please visit Bootcamp Application for details on application submission.

 

Please email to MChowdhury@nathaninc.com or Smostafa@nathaninc.com, if you are interested to discuss about your ideas before final submission. 

Key stages of BOOTCAMP process

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Ready to apply? Visit the Bootcamp application process

Want more details? Check out our Bootcamp SLIDE Presentation