Cameroon

Program

Entrepreneurship

Mastercard Foundation - Social Innovation and Entrepreneurship Fund - Cameroon Movemeback African initiative cover image

Details

AIMS-NEI, in partnership with Mastercard Foundation, is launching the MCF Social Innovation and Entrepreneurship Fund (MCF – SIEF) at AIMS Cameroon. Applications are open until December 10 (11PM).

The MCF – SIEF aims to better prepare AIMS Mastercard Foundation scholars and alumni with knowledge and skills to innovate and generate creative solutions to social challenges. Participants will collaborate and create inspirational entrepreneurial projects that contribute to improving their lives and that of others.
The program brings together Mastercard Foundation Scholars, alumni and other AIMS Scholars and alumni to learn how Design Thinking works and how to apply it to real-world challenges. Participants will work on a specific design challenge in one of the following broad areas:

  • Improving existing livelihoods;
  • Enabling diversification of income; or
  • Creating dignified and fulfilling work (jobs).

By the end of the program, participants will have developed innovative entrepreneurial solutions ready to be pitched to others.
Participants will compete at the Final Challenge by April 18 for seed funding grants of up to $10,000 as well as further mentorship support.

How is the program structured?

  • Training sessions: 6 training sessions to be delivered twice a month. The sessions will last approximately 3 hours and will be delivered on the side of classroom hours (during weekends at Limbe, Cameroon).
  • Individual work: Besides attending the sessions, participants are encouraged to dedicate at least 2 hours per week to further work on their project ideas.
  • Final challenge: At the end of the program, participants will present their solution at the Final Challenge, which will look for the best project ideas with demonstrable viability.
  • Seed funding & Mentorship: Winning solutions will receive seed funding grants and further mentorship support over the course of two months.
     

Program Timeline

  • November 20: Call for applications
  • December 10: Close of applications
  • December 16: Notifications of acceptance
  • January 3: Training sessions begin
  • March 28: Training sessions end
  • April 18: Final challenge
  • April – May: Disbursement, follow-up and mentorship

Criteria

The applications are open to AIMS Mastercard Foundation Scholars and Alumni and other AIMS students based in Cameroon who are interested in being catalyzers of socio-economic transformation. Applicants should be interested in learning how to become creative problem solvers and be committed to generating innovative entrepreneurial solutions to help improve the lives of others.

Applicants can apply as individuals or in teams of 2-3 people. At least one individual (preferably the one assuming the position of team leader) per application should be a Mastercard Foundation Scholar or Alumni.

Benefits

  • Skills and knowledge in Design Thinking and social innovation
  • Certificate of completion for participants attending all training sessions
  • Seed funding grants of up to $10,000 for winning solutions
  • Mentorship support for winning solutions
  • Opportunity to collaborate with other Mastercard Foundation Scholars and Alumni

About Mastercard Foundation

The Mastercard Foundation is tackling the youth employment challenge in Africa. The Mastercard Foundation believes that employment is a leading pathway out of poverty for young people and their families. The Mastercard Foundation works with forward-looking organisations to provide greater access to education, training and financial services for economically disadvantaged people in Africa. As one of the world's largest private foundations, its mission is to advance education and promote financial inclusion in order to forge an inclusive and equitable world. The Foundation is based in Toronto, Canada, and has operated independently of Mastercard International since its inception in 2006.