AECF uses a Challenge Fund model where funding is awarded through competitions. Only private sector companies are eligible to submit their innovative business ideas, and have to comply with the eligibility and selection criteria of the each competition. The best ideas could be awarded up to US$1.5 million in grants or repayable grants. While each competition is different, all competitions seek business ideas that are judged on their commercial viability, innovation, and potential development impact of their projects.
To get a better understanding of each step in the AECF Fund Process, see below: