Tanzanian ICT sector development project TANZICT has launched an innovation fund, allowing local startups to apply for up to TZS20 million (US$9,200) in funding.
TANZICT said the fund, for which applications are now open, was looking for startups with commercially viable, innovative ideas addressing specific social and economic needs in Tanzania.
“The fund focuses on getting new products and services to demo, prototype or pilot phase. Also, the business side is emphasized; and as a part of successful project there should be market research, customer feedback and/or user tests conducted,” TANZICT said.
Applicants are required to work with a reputable Tanzanian organization supporting innovators and entrepreneurs, such as Dar Teknohama Business Incubator, SIDO incubators, Twende, KINU, and Buni.
“The supporting organization must be prepared to co-sign the grant agreement and to share with applicant the responsibility of ensuring the grant will be spent correctly and results reported,” TANZICT said.
Applications will be processed by an evaluation committee composed of members from COSTECH, TANZICT and private sector, with the total amount of the grant to support the submitted application to be decided by the evaluation team. The maximum grant sum will be around TZS20 million (US$9,200) for one applicant.
