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Innovation Grants - Innovation Grant Application Process

Applicants who consider themselves eligible with respect to the selection criteria and are in need of a matching grant to design, test and/or implement a new product or service, are invited to apply for such funds by submitting a Innovation Grant Application Form and the Financial & Workplan template (including comprehensive budget in USD in excel) and supporting documents 

 

Mandatory additional documents to be submitted with application form:

1. EFInA financial & work plan template

  • Sheet 1: Work plan
  • Sheet 2: Milestones
  • Sheet 3: Project Budget
  • Sheet 4: Projected P&L

2. Capacity statements

  • Capacity statement demonstrating relevant experience of the company or companies involved including partners, technical assistance/business development services providers
  • Documentation of experience/capacity relevant to proposal
  • Signed MOU/Agreements between partners, if more than one company is involved

3. Copies of the following documents:

  • Certificate of incorporation
  • Memorandum and Articles of Association
  • CAC 7 (particulars of Directors)
  • CAC 2 (statement of share capital and return of allotment of shares
  • CAC 10 (form of annual returns) filed for the year preceding the grant
  • List of company's shareholders
  • Audited Accounts for the last 2 years (new entities or joint ventures may present the audited statements of their main sponsor or shareholders)

4. Copies of relevant licenses and authorisation for proposed business/product.

For example, Central Bank of Nigeria (CBN) license(s) and any other documentation of regulatory compliance for the past 2 years

5. Evidence of regulatory approval

No objection to the proposed activity if required by CBN/regulator

All completed innovation grant application forms along with the supporting documentation should be submitted electronically to the Programme Manager at innovation@efina.org.ng by the RFP deadline.

EFInA will notify applicants of acceptance or rejection within 80 days of receipt of the application.

 Confidentiality Clause

EFInA agrees to regard as confidential all information attached to the application, and subsequent progress of the project that is not in the public domain.