G20 Launches Challenge on Inclusive Business Innovation

Last week, the Group of 20 (G20) launched the G20 Challenge on Inclusive Business Innovation, an online competition that seeks to find the best examples worldwide of businesses with innovative, scalable, and commercially viable ways of working with low-income people in developing countries.

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The G20 Challenge will recognize successful inclusive business ventures, and provide a global platform for all businesses to learn from successful leaders in this growing field. The winning business models will be showcased at the G20 Leaders Summit in Mexico in June 2012.

Following the Mexico Summit, winners will meet in Germany for the first in a series of G20 regional workshops, where they will strengthen their inclusive business relationships and work together to accelerate the growth of inclusive business in developing countries.

Who can apply?

The G20 Challenge on Inclusive Business Innovation is open to eligible businesses and subsidiaries that meet the following eligibility criteria:

  • Are headquartered or have a substantial part of their operations in a low- or middle-income country

  • Are a for-profit entity

  • Demonstrate financial sustainability: have evidence of commercial financing (equity or debt) and of being current on all commercial debt

  • Use an innovative business model that includes individuals at the BOP as suppliers, distributors,
    retailers, or consumers

  • Are not a financial institution such as a microfinance institution, bank, fund, or financial intermediary

  • Were founded before June 30, 2009, for a minimum of 3 years of operation by the announcement of the winners in June 2012

  • Operate outside the extractives industry (oil, gas, mining)

How will winners be selected?

An independent judging panel including representatives from the G20, the private sector, academia, foundations, and International Finance Institutions will select up to 15 Challenge winners based on the following criteria:

  • Innovation

  • Development results

  • Potential for growth, including replication of the business model in other markets

  • Financial sustainability

  • Environmental and social sustainability

The full application period will open on December 1, 2011. Deadline for applications is February 29, 2012, at 11:59 PM (EST). Check out the FAQ section of the G20 Challenge website for more information.

The G20 Challenge is being implemented by Dalberg Global Development Advisors on behalf of the International Finance Corporation (IFC).

Studio Elias