Waste Recovery Innovation Challenge
- The applicant (including third parties such as co-investors or banks and other lenders) provides matching funds of at least 30% of the total cost of the business idea.
- The funding request is for a specific, new and innovative business idea/project that addresses the challenge enumerated above. The WRIC/UNDP views innovation in its broadest sense including: i) a new approach, product, idea or sen-ice that has not been tested anywhere; ii) an approach, product, idea or sen-ice that is new to Ghana; or iii) an approach, product, idea or sen-ice that has not been applied to plastic waste recovery and management in Ghana but presents the best possible opportunity to provide lasting solutions.
- Applicants must demonstrate that the project could not go ahead without WRIOUNDP funding or that, if it would go ahead anyway, it would be at a much-reduced pace or scale.
- An organization may partner with other organizations, including NGOs and Community organizations. However, it is a condition that the lead applicant and implementer of the business idea must always be a commercial organization/business.
- The idea must be implemented in Ghana by private sector organisations registered in Ghana.
- A consortium may be formed, but the lead applicant is responsible for the project/idea and must warrant that the permission of the other members has been obtained.