The Swiss Re Foundation Entrepreneurs for Resilience Award 2023 for entrepreneurial initiatives (USD 700 000 Prize)
The Swiss Re Foundation Entrepreneurs for Resilience Award recognises entrepreneurial initiatives that take innovative approaches to building resilient societies and realising the United Nations Sustainable Development Goals. While resilience is...
Application Deadline: JANUARY 23, 2023
The Swiss Re Foundation Entrepreneurs for Resilience Award recognises entrepreneurial initiatives that take innovative approaches to building resilient societies and realising the United Nations Sustainable Development Goals. While resilience is the core theme of this annual programme, its specific focus changes from year to year.
Health expenditures push an estimated 100 million people worldwide into extreme poverty every year. Without a financial safety net, a single illness can threaten the health and well-being of entire families. New approaches to financing healthcare are more urgently needed than ever.
The Swiss Re Foundation aims to make basic healthcare accessible to at least 1 million more people by 2024. This call for applications is an invitation to social entrepreneurs working in LMICs to make healthcare financially more accessible in low-income communities.The 2023 Entrepreneurs for Resilience Award focuses on innovative, market-based solutions that increase financial access to healthcare in low-income communities, and that:
- increase household resources available for healthcare (e.g. through savings, payment and credit solutions)
- reduce health shocks that can lead to poverty or economic vulnerability after a disease or an accident (e.g. through microinsurance or other “safety nets”)
- Award components
- – A total grant of USD 700 000 for the three finalists. This amount is divided among the winner (which may receive up to USD 350 000) and the two runners-up and paid in instalments over two to three years.
- – Non-financial support such as coaching and technical advice from Swiss Re employees and experts, tailored to each finalist’s needs.
- – Members of the general public are invited to vote for their favourite finalist. The recipient of the most votes wins the People’s Choice Award and receives a special prize.
The three finalists will be awarded with funding up to USD 700 000 and non-financial support from experts across Swiss Re and beyond.
Mission and purpose
Applicants must demonstrate high levels of social impact and are ideally able to measure it in a reliable manner (eg, improved health indicators or/and reduced out-of-pocket expenses).
At least 30% of the people served by applicants must come from poor to very poor communities. Applicants should have a deep understanding of the specific circumstances of the people – both women and men – they serve (eg barriers to using financial instruments to better manage their healthcare). Swiss Re Foundation will prioritise enterprises that are gender-inclusive.
Applicants must operate in countries that are defined as low-income or lower-middle-income by the World Bank.
Applicants must be formally established, serve at least 20 000 people and have the potential to reach at least 100 000 people in the coming three years. They should also be on a clear path to financial sustainability yet still require
grants (or other support) to improve their business model, reach low-income households and/or attain full financial sustainability.
Applicants must use digital technology or have highly digitalised processes to deliver value to underserved populations at scale.
Applicants must have a solid management team where responsibilites are distributed and well defined. They should also have a diverse, well-structured workforce.
Applicants must comply with the legal framework of the country or countries in which they operate and are registered and must be allowed to receive grant funding from a Swiss non-governmental organisation such as the Swiss Re Foundation.
The application period will open on 2 December 2022. Applicants are asked to complete the online questionnaire by 23 January 2023, 23:59 CET. Only applications submitted in English and before the deadline will be considered.
The selection process is as follows:
– In the first round, 12 applicants will be selected and their founder(s) invited for a two-hour interview between mid-February 2023 and mid-April 2023.
– In the second round, six applicants will be selected and requested to host a twoday on-site due diligence visit, led by representatives of the Swiss Re Foundation, in May or June 2023. All six ventures will also need to prepare a brief video (or submit an existing one) about their venture, approach and achievements by mid-June 2023.
– The third round will decide the three Resilience Award finalists. At least one founder from each finalist venture will be coached between mid-July and midSeptember 2023 to develop and deliver a pitch.
– The finalists will be invited to Zurich (Switzerland) from 18 September to 21 September 2023. The award ceremony will take place in Swiss Re’s premier conference facility, the Center for Global Dialogue. At the ceremony, each finalist’s founder(s) will deliver their pitch to the Resilience Award Jury, which is composed of senior Swiss Re representatives and partners and will decide on the grant money allocation.
For More Information:
Visit the Official Webpage of the Swiss Re Foundation Entrepreneurs for Resilience Award 2023
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