Applications for the TANZICT Innovation Fund, which aims to fund implementation of innovative, commercially viable ideas that addresses specific social and economic needs existing in Tanzania, have opened.
The Innovation Fund focuses on getting new products and services to demo, prototype or pilot phase.
Also, emphasis will be placed on the business side of things, and as a part of successful project, market research, customer feedback and/or user tests would be conducted.
Applicants are required to be housed in any Tanzanian incubators or hubs such as Dar Teknohama Business Incubator, SIDO incubators, R&D/university incubators, Twende, KINU, and others. This is to ensure the applicants are well-supported and monitored if they eventually receive grants.
Applications received will be processed by an evaluation committee composed of members from COSTECH, TANZICT and private sector, who will determine the total amount of grant to be awarded the successful applicants.
The expected maximum grant sum will be around TZS 20,000,000 (about US$10,000) per applicant.
Interested applicants should apply as soon as possible. Applications will close on April 11, 2016.
The Innovation Fund has been set up with the support of the TANZICT Project – a bilateral project between the Ministry of Works, Transport and Communication of Tanzania and the Ministry of Foreign Affairs of Finland – and COSTECH.