Kick-Off Innovator's Challenge Geodata for Inclusive Finance and Food #G4IFF

3 July, 2018

 

NpM, Platform for Inclusive Finance, Rabobank Foundation, FMO, Bill & Melinda Gates Foundation and Accenture organize an Innovator’s Challenge.

Aim: incentivizing technology companies to develop geodata-based financial services for smallholder farmers in developing countries and emerging economies.


Access to affordable and appropriate finance is key for smallholder farmers to grow their business. However, financial institutions see agriculture lending as risky and costly and do not easily lend to smallholder farmers. Numerous examples, all over the world, show that geodata applications can improve agricultural production and fintech applications lead to increased outreach of financial services. Currently the combination of using geospatial information to improve the outreach and suitability of financial services to smallholder farmers is only tested in a few cases and on a small scale.

NpM invites submissions that tackle this challenge by combining geodata applications with fintech applications in an innovative, scalable and commercially viable way. NpM is particularly interested in new ideas that result in the following output:

  • Reduced transaction costs for lenders
  • Lower risks for lenders 
  • Improved agricultural performance of smallholder farmers
  • Digital track record of smallholder farmer’s agricultural production
  • Combination of different data sources relevant for financial institutions.

Participation in this Challenge is on an invitation-only basis. During the Challenge, the companies will develop their business skills and participate in workshops to gain a better understanding of the needs of financial service providers and the challenges they face in financing smallholder farmers. The 6 finalists will pitch their protypes at the Accenture Innovation Summit, an invitation-only event for corporates, start-ups, investors and (network)partners which attracted 2451 visitors in 2017. The 3 winners of this competition will have the opportunity to pilot their solution with a financial service provider in an implementation project worth EUR 125K.

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