Innovation Challenge Ghana: financial inclusion

Supporting digital innovations and solutions that promote financial inclusion.

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The Innovation Challenge in Ghana is an opportunity for early-stage innovators who develop digital innovations to provide equal access to financial services and products. Winner teams will receive access to the three month digital launcher programme from Innovation Factory to refine their ideas and prototypes to the generation of a viable business plan to launch their digital innovation for sustainability.

Your contribution to development cooperation works:

The Innovation Factory offers support formats for the identification and scaling of innovative digital concepts that provide solutions to urgent social challenges in the field of sustainability. The current Innovation Challenge is running in Indonesia, Ghana and Mexico. All our activities focus on human-centered design and design-thinking approaches, as well as the consideration of the digital principles for development. Simultaneously, the project will establish and strengthen global networks between (digital) innovators. At Innovation Factory, we promote this through the exchange and mutual learning of entrepreneurs from different partner countries.

The government of Ghana has a vision to increase affordable and good quality financial services that meet the needs of Ghanaians. This vision is expressed in the National Financial Inclusion and Development Strategy (NFIDS) roadmap of reforms and innovations.

Thematical focus:

Aligning with the 2030 Agenda for SDGs’ tenet of leaving no one behind, the Innovation Challenge for Ghana seeks to support digital innovations and solutions that promote financial inclusion. 

Examples include innovations that support financial inclusion of marginalised groups like people living with disabilities or rural women groups, support financial literacy initiatives, enabling easier access to savings accounts and payment services, as well as reducing barriers to obtaining insurance and loans.

Our offering: DIgital Launcher Programme

  • Customised coaching & mentoring: Receive professional support from experienced social entrepreneurship experts
  • Peer learning: Be part of a cohort and exchange with peers who similarly strive to create social and environmental impacts
  • Sustainable business plan development: Access hands-on tools to help you launch your sustainable business idea
  • Access to professional network: Connect with local and international experts to build your network

Target audience:

The Innovation Factory is looking for ambitious teams and start-ups with a strong entrepreneurial spirit, promising ideas and digital solutions that contribute to achieving the sustainable development goals set by the United Nations. The Innovation Challenge is an opportunity for early-stage innovators who have digital innovations that adress social and environmental challenges and are keen to develop a sustainable business model around their digital solutions.

In Ghana we are particularly looking for early-stage innovators who develop digital innovations to provide equal access to financial services and products. If your start-up is a social/impact company and your service or product contributes significantly to the achievement of the United Nations’ sustainable development goals – you are welcome to apply for the Innovation challenge!


We are looking for impact-oriented investors who are interested in building up an investment pipeline for impact and social start-ups in Indonesia, Mexico and Ghana. Interested investors can then be involved in the start-up’s support phase. In Ghana, we are particularly looking for experts with a background in financial inclusion. You can either apply directly or spread it in your networks!


For more information contact us at

Email: info@innovation-factory.app

Web: www.innovation-factory.info

Overview

Program dates Dec 1, 2021 - Jan 28, 2022
OrganizerGIZ
Website Visit website
Targets Ghana
Sectors Business services, Consulting and business development, Financial services, Fintech
SDG (6)1. No Poverty, 4. Quality Education, 5. Gender Equality, 8. Decent Work and Economic Growth, 9. Industry, Innovation and Infrastructure, 10. Reduced Inequality