We are looking to test new products, features, services and business models, not fund the scale up of business-as-usual solutions. We want to test new innovations developed by organizations with an existing track record of working with small businesses, not entirely new entities. We seek solutions that have potential for impact at scale, not those which are highly sector or market specific. We will not fund the development of training content or business-as-usual products and services with this fund.

What are we looking for?

Follow us on <a href="https://twitter.com/StriveBusiness" rel="noopener noreferrer" target="_blank">Twitter</a> and <a href="https://www.linkedin.com/company/strivecommunity" rel="noopener noreferrer" target="_blank">LinkedIn</a> and sign up to our <a href="/sign-up" rel="noopener noreferrer" target="_blank">newsletter</a> to be kept updated about the fund and to ask any clarifying questions.

Want to learn more?

Sign up for our <a href="/sign-up" rel="noopener noreferrer" target="_blank">newsletter</a> to be notified when we are accepting applications and for other updates about this fund.

Does this sound like a good fit?

<ul><li>Leverage digital and data first solutions</li><li>Have potential for measurable positive impact on small business growth</li><li>Propose implementation outside of the US and Canada</li></ul>

Proposed projects must:

Project eligibility

<ul><li>Single organizations or a consortia of multiple organizations</li><li>Non-profits, social enterprises, start-ups, and others</li><li>Companies or multinational corporations (subject to matched funding requirements)</li></ul>

Applicants can be:

Organizational eligibility

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<ul><li>Be a registered and operating entity with active users, with a proven track record of legal and ethical operations and good work performance for at least 2 years</li><li>Be fully compliant with business licensing, taxation, employee and other relevant regulations in all countries of operation</li><li>Be compliant with all applicable laws including adhering to fundamental human rights and all international labour standards</li><li>Be able to prove financial health with adequate financial systems to report regularly to Strive Community</li><li>Have adequate internal human resource capability to implement the proposed project and comply with Strive Community’s reporting requirements</li><li>Not be engaged in unethical activities such as arms production or tobacco</li></ul>

Applicants must:

Due diligence requirements

Eligibility

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Big ideas for small businesses

$1m in grants available!

Applications are currently closed. The next open application period will be announced in our newsletter. 

Strive Community Innovation Fund

The Strive Community Innovation Fund aimed to spark new ideas for catalyzing small businesses' resilience and growth, at scale. We were seeking truly innovative solutions that can be transformative for these small enterprises which are the backbone of our economies. The fund made available up to $1m for digital and data first solutions that enable small businesses with fewer than 10 employees to digitize their operations, better use financial services, or participate more effectively in digital marketplaces. Successful applicants will each received up to $150,000 to develop and test their innovation over a 12 - 18 month period.

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Overview

Innovative solutions to support small business growth at scale

<ul><li>Does the project address at least one of Strive Community’s three pillars for supporting small business: digitizing operations, using financial services and participating in digital markets?</li><li>What impact could be achieved if the project is successful?</li><li>Is there alignment with Strive Community focus areas of supporting businesses with fewer than 10 employees with digital and data first solutions?</li></ul>

Significance & impact

<ul><li>Will the project inspire others to similarly innovate on supporting small business?</li><li>Can other organizations benefit from the learnings and insights generated in this project?</li><li>Can the solution or insights be applied, adapted, or transferred broadly?</li></ul>

Applicability & transferability

<ul><li>Does the articulated plan seem suitable for reaching the desired outcome?</li><li>Does the requested budget seem reasonable for the project proposed?</li><li>Does the project center on a solution that has financial viability at scale?</li></ul>

Feasibility & sustainability

<ul><li>Would the innovative solution or insights be realized without this funding?</li><li>Would the project be implemented in an improved way with this grant?</li><li>Is Strive Community inspiring something truly innovative by de-risking it for the awardee?</li></ul>

Additionality

We will use 4 simple criteria to select proposals:

Seelction

Applications Open

Applications Close

Shortlisted Applicants Selected

Shortlisted Applicants Submit Mini Proposals

Finalist Selected

Finalist Applicants Pitch

Winners Selected

Timeline

Applicants can be start-ups, established companies, non-profits, social enterprises, or other organization types. Projects must be tested and implemented outside of the US and Canada. Applicants can apply as single entities or as a consortium of multiple organizations. See more details in the&nbsp;<a href="/innovation-fund/eligibility" rel="noopener noreferrer" target="_blank" style="color: rgba(255,103,27,var(--tw-text-opacity));">Eligibility Criteria</a>.

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Who should apply?

Strive Community Innovation Fund winners have the opportunity to build and test the most innovative and experimental solutions that they may not have otherwise been able to pursue. In addition to funding, they have access to Strive Community and Mastercard expertise, as well as a great opportunity for exposure and publicity.