⇓ More from ICTworks
By Wayan Vota on February 19, 2024
Advancing a competitive, innovative, and secure marketplace for Internet connectivity and digital financial services in low- and middle-income countries is crucial for economic growth, digital inclusion, and innovation.
Competitive Internet connectivity networks help bridge the persistent digital divide, ensuring that more people have access to the benefits of the digital economy, such as online education, healthcare, and e-commerce. Interconnected economies can boost GDP and create new markets for products and services.
Sign Up Now for More Funding Opportunities
When emerging markets have access to digital financial services, local entrepreneurs can develop solutions tailored to their unique challenges, often leading to groundbreaking innovations that can be scaled globally. For example, mobile money solutions like M-PESA started as a local solution to an African problem. Mobile money is now a global service with proven anti-poverty capabilities.
Catalytic Capital for Internet Access and DFS
Digital Invest is USAID program that provides highly customized support to private-sector Internet infrastructure developers that advance internet connectivity and fund managers that accelerate digital financial services in emerging markets.
Digital Invest can provide four grants of $500,000 in targeted, risk-tolerant, catalytic capital to increase internet service providers (ISPs) and digital financial services (DFS) supporting un- and underserved consumers and businesses worldwide.
The blended finance approach will prioritize high-impact, catalytic, and market-driven use of grant funding as:
- Project funding,
- Support for first-loss capital requirements,
- Top up grants to existing portfolio companies
- Technical assistance to accelerate the success of individual companies
- Appropriate operational and transaction costs
Priority under this call will be placed on increasing access to finance, supporting the growth of secure and trusted technology service providers, and prioritizing consumer protection and cybersecurity in all partnerships. The program will advance competition and choice, and ensure emerging market countries have secure alternatives to authoritarian-backed tech companies, infrastructure, and platforms.
Apply Now! Deadline is April 15, 2024
More Funding Opportunities
Do you want to apply for USAID grants for humanitarian aid projects? Get startup investments for a technology business? Or learn how to win more contracts? Then please sign up now to get our email updates. We are constantly publishing new funding opportunities like these:
Now Read These Related Posts
Filed Under: Connectivity, Funding
More About: Digital Financial Services, Financial inclusion, Grant Funding, Internet Access, Internet Bandwidth, ISP, Mobile Financial Services, Private Sector Partnerships, Public-Private Partnerships, USAID
Tyler Fields is your internet guru, delving into the latest trends, developments, and issues shaping the online world. With a focus on internet culture, cybersecurity, and emerging technologies, Tyler keeps readers informed about the dynamic landscape of the internet and its impact on our digital lives.