G-20 SME Finance Challenge
The Inter-American Development Bank Group supports the G-20 works on SMEs and, as such, invites you to participate in the G20 Finance Challenge. It is an online competition to find the best models worldwide for public‐private partnerships that leverage public interventions to catalyze finance for small and medium enterprises (SMEs), that the Group of 20 and Ashoka’s Changemakers, with support from the Rockefeller Foundation, has just launched. At the Toronto G-20 Leaders Summit, Prime Minister Stephen Harper announced the competition emphasizing the importance of business in driving the economy and followed with a $20M commitment from Canada to help scale-up the competition’s winning solutions. The G-20 SME Finance Challenge is a unique competition that is asking the private sector to identify path-breaking models that make public programs more effective in leveraging private finance. Private financial institutions, investors, companies, foundations and civil society organizations are all invited to submit proposals. Successful entries will demonstrate: innovation, leverage, scalability, social and economic impact, and sustainability.
Up to 15 Challenge winners will be invited to the November 2010 G-20 Summit in Korea to be recognized for their innovative ideas. Winners will then be connected with donors and investors at an SME conference in Germany following the Korea Summit. The G-20 is collectively committed to mobilizing the public share of the funding needed to implement the winning proposals.
1. Early entry deadline: August 6, 2010
2. Final deadline: August 25, 2010
3. Joining this open-source challenge: www.changemakers.com/SME-Finance