News Flash - Global Competition for Financial Services Solutions

G2012 Mexico and Ashoka Changemakers Announce Global Competition for Inclusive Financial Services Solutions Entries due September 12, 2012

G2012 Mexico and Ashoka Changemakers have announced the launch of an online competition to find the world's most innovative solutions that make valuable, affordable, secure, and comprehensive financial services accessible to underserved and excluded communities.

The G2012 Mexico Financial Inclusion: Innovative Solutions for Unlocking Access competition is open to all private sector participants from any country. Proposals are welcome from individuals, nonprofits, and for-profit organizations, including private financial institutions, private investors and companies, socially responsible investors, foundations, and citizen sector organizations. Entries may describe a collaboration between more than one eligible organization and projects in any stage of development, from idea or concept, to proven programs.

The competition seeks innovations that address barriers to financial inclusion, including but not limited to physical or other accessibility barriers that prevent communities from reaching financial services; the shortage of affordable financial products tailored to the needs of underserved and excluded communities; and the lack of incentives for financial service providers to continue serving low-income, poor, or marginalized communities.

The best entries will reflect a substantial difference from other initiatives in the field and have the possibility for large-scale, global replication. Entries should explain how the solution measures, or intends to measure, social impact through both quantitative and qualitative data. The proposals must have a clear outline for reaching long-term goals and securing financial backing — entries should describe not only how they currently finance their work, but also how they plan to finance it in the future.

Entries must be submitted in English, Spanish, French, or Portuguese.

A grand prize of $100,000 will be awarded to the top-ranked entry. Entries received by July 30, 2012, will be eligible to win one of two $1,000 early entry prizes, in addition to being considered for the grand prize.

Visit the Changemakers Web site for complete program guidelines and entry procedures.

Contact:
Link to Complete RFP

Primary Subject: Community Improvement/Development 
Geographic Funding Area: National

Posted: July 4, 2012 via Foundation Center - PND | RFP

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