G4IFF INNOVATOR’S CHALLENGE
The Geodata for Inclusive Finance and Food (G4IFF) workstream focuses on the use of geospatial information to increase access to financial services for smallholder farmers.
In order to promote innovative solutions that make use of geodata for inclusive finance, NpM launched the G4IFF Innovator’s Challenge. Participating tech and FinTech companies were challenged to develop geodata-based applications for Financial Institutions (FIs). NpM worked together with all G4IFF partners, with Rabobank Foundation, Bill & Melinda Gates Foundation and FMO each providing EUR 125.000 for the winners.
NpM invited submissions proposing geodata solutions to increase smallholder farmers’ access to finance in an innovative and commercially viable way. The challenge focused on disruptive ideas that lower risks and transaction costs for FIs, improve performance of farmers, provide track records and combine different data sources. A jury consisting of G4IFF partners’ representatives evaluated proposals according to specific criteria: Financial inclusion, scalability, technical applicability, integration of services, development impact, and business/finance innovation.
As part of the Innovator’s Challenge, Accenture delivered an intense accelerator programme made up of a total of six workshops to finetune the innovative solutions. After the third workshop, the jury selected six finalists out of 17 participants. These finalists underwent two additional workshops and a training preparing them to pitch their solutions at the Accenture Innovation Awards Summit on November 2nd, 2018. The Grand Jury, comprising of high-level representatives from NpM partner organisations, determined the three winning innovators: Agri-wallet, Apollo Agriculture, and VanderSat. Each received a prize of EUR 125.000 in order to pilot their proposed solution starting from January 2019.
READ MORE ABOUT THE INNOVATOR’S CHALLENGE:
- STPF, 25 April 2019: SPTF April Newsletter
- e-MFP, 2 May 2019: e-MFP Spring 2019 Newsletter
- Africa Nieuws, 22 January 2019: Agri-wallet wint NpM Innovator’s Challenge (in Dutch)
- Impact Terra, 3 January 2019: Impact Terra’s Finalist Pitch at Accenture Innovation Summit (NpM Innovator’s Challenge)
- Telegraaf, 17 December 2018: Financiële zorgplicht in het fintech-tijdperk (in Dutch)
- Next Billion, 7 December 2018: A Roadmap to Food Security – Linking Geodata with Financial Inclusion to Support Smallholders
- NSO, 21 November 2018: Satellietdiensten voor microfinanciering in de prijzen (in Dutch)
- e-MFP, 9 November 2018: NpM Innovator’s Challenge
- ICCO, 9 November 2018: Congratulations to VanderSat for winning NpM Innovator’s Challenge
- Micro Capital, 8 November 2018: Agri-Wallet, Apollo Agriculture, VanderSat Win $430k in NpM Geodata Innovator’s Challenge for Financial Solutions for Farmers
- Agrics, 7 November 2018: We are winners of the NpM Innovator’s Challenge!
- Geodatics, 7 November 2018: We are winners of the NpM Innovator’s Challenge!
- FinDev Gateway, 6 November 2018: NpM announces the winners of the NpM Innovator’s Challenge
- VanderSat, 2 November 2018: VanderSat wins NpM Innovator’s Challenge
- Rabobank, 19 October 2018: Geodata puts precision agriculture into farmer’s orbits