In a concerted effort to foster innovation and entrepreneurship aligned with the Sustainable Development Goals (SDGs), the United Nations Development Programme (UNDP), JS Bank Limited and the IBA Center for Entrepreneurial Development, proudly announce the launch of the SDGs Innovative Financing Challenge Cup and Capacity Building project.

This initiative aims to catalyze private sector projects that address critical societal and environmental challenges while promoting sustainable development and climate action in Pakistan.

The SDGs Innovative Financing Challenge Cup presents a unique opportunity for innovators, entrepreneurs, and Small Medium Enterprises (SMEs) across Pakistan to present their innovative projects. By aligning with the SDGs and climate action, participants are encouraged to apply with projects contributing to gender equality and inclusion, provide financial solutions for climate resilience, and offer inclusive insurance.

Eligible applicants must demonstrate a commitment to addressing real societal and environmental pain points with sustainable, commercially viable, and scalable solutions. Moreover, women-owned businesses and SMEs are strongly encouraged to apply, as part of the initiative's commitment to promoting gender equality and inclusion.

The projects emerging victorious in the Innovative Financing Challenge Cup will not only secure financial support from UNDP but will also have the opportunity to apply for concessional financing from JS Bank.

The application process is now open, with interested parties invited to submit their proposals through the designated portal at https://ced.iba.edu.pk/undp-innovationcup.php. Applications will undergo rigorous review, and selected candidates will be invited to participate in a comprehensive capacity-building workshop scheduled for May 3rd and 4th, 2024. The Innovative Financing Challenge Cup will serve as a platform for the top 12 ventures to showcase their potential. Judges from UNDP, JS Bank and IBA will select 3 to 6 winning projects those having good debt coverage ratios and have sustainable operations for grant funding and concessional debt financing.

The project will not only empower innovative solutions but also build a strong ecosystem of support for climate resilience and inclusive insurance in Pakistan, opening the way to a more sustainable and resilient future for everyone.

For more information and to apply, please visit: https://ced.iba.edu.pk/undp-innovationcup.php