The UNDP Growth Stage Impact Ventures (GSIV) for Businesses

Ikenna Nwachukwu

2 years ago

The United Nations Development Program (UNDP) seeks to identify, support and reward businesses in Nigeria that are driving the implementation of the Sustainable Development Goals (SDGs) in the country. If your business meets this criterion, you should consider applying for the GSIV.

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With this program, the UNDP intends to present opportunities for investments in venture niches, industries and markets that align with the SDGs. It wants to expose areas in which private sector involvement can bring about positive change—for individuals, communities, and whole regions.

Benefits

Companies that are selected by the UNDP for this program will benefit from it in the following ways:

Get trained and receive capacity-building support from the UNDP, preparing them to receive investment and expand and deepen the scope of their operations.
Be exposed to funding opportunities from partners of GSIV, including the funding mechanisms of the UNCDF.
Get invited to pitch their solution at the International Investment Forum, which will take place late in 2023. There, they could meet and engage potential investors and discuss possible collaboration with prospective partners.

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Eligibility

This program is open to businesses that meet the following criteria:

Must be a venture with significant operations in Nigeria; its management and team must be based in the country. It should also primarily serve the Nigerian (and African) market.
Should be seeking technical and financial partners to enable it to grow. Applications will be evaluated based on such criteria as the business’s innovation, financial records, scalability, and impact.
Must be operating in one of these sectors: Food and Agriculture, Healthcare, Infrastructure, Technology and Communication, Renewable Resources and Alternative Energy, Consumer Goods and Services.

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Application Process

Businesses are not allowed to apply directly to the UNDP’s GSIV. They should be nominated by a third party, such as development banks, accelerators, international organizations, family offices, impact funds, government, and NGOs. The UNDP will receive nominations until February 28, 2023. To nominate a business for the UNDP Growth Stage Impact Ventures (GSIV) program, click HERE. Featured Image Source: Opportunities For Africans

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