DEADLINE EXTENDED TO JUNE 26, 2017 AT 6PM EST
Following three successful rounds of its Spark Fund program, the Alliance has created an enhanced program to help transition businesses from grants to investment capital. The new Spark+ Investment Readiness Program, which has released its first request for proposals, will continue to provide grant capital while focusing on delivering high-touch strategic investment-readiness and capital raising support.
Supported by Bank of America Foundation, Osprey Foundation, and Shell Corporation, the Spark+ Investment Readiness Program (“Program”) will identify, evaluate and support a pipeline of potentially investible businesses in the cooking sector in developing markets. As part of its mission, the Program will provide advisory services to prepare companies to raise external debt and/or equity capital in the next 12 months, in addition to small grants to increase investment readiness, as needed, and based on the results of the due diligence process.
“Clearly grants are still required to drive technical and business model innovation and ensure that high-impact, life-changing solutions are accessible and adopted by consumers who need them most. But we recognize that our support should not stop there, and have continued to refine our strategy to directly mobilize investment capital. We must bridge the gap between the many pre-investible companies in the sector today, and the large amount of impact investment capital searching for commercially viable, scalable opportunities” says Peter George, Director of Investment at the Alliance.
In addition to helping businesses prepare for investor engagement, the Program will provide access to a large, aggregated investor network and make the capital raising process more efficient and investment terms more favorable for growing businesses. The Program should alleviate a significant resource burden on management teams by providing fundraising process support, enabling teams to concentrate on running their businesses.
Alliance partners with scalable business models and potential to attract investment capital are invited to submit applications. Please see detailed instructions and criteria provided on the RFP itself.