MFC’s Innovation Award explores the new trends in optimizing business processes through the Digitalization for a Connected World. To learn more about how to participate, please find the details below.
Innovation Award Overview:
MFC’s Innovation Award would like to recognize and further stimulate organizations from the ECA region that add significant contribution to financial inclusion, society and improving peoples’ lives through their daily business.
Contain outline with defined target groups, geographical location and desired business outcome
contain financial inclusion impact estimation
contain estimations for end-user outreach and efficiency optimization
be planned for implementation in the next 2 years
The submitted description should be no more than 500 words in English or Russian.
Timeline: The submission process will be opened with the start of the MFC Conference. The deadline for submissions is September 9, 2016. The award’s winner will be announced on the 2nd European Microfinance Day– 20th of October 2016.
The first MFC Innovation Award is generously sponsored by Software Group:
Free licensing for Digital Field Application (DFA) and 20 tablets
Award is not subject of financial reimbursement
After closing the submission, applications will be reviewed by the Award Committee consisting of 1 MFC Member, 1 MFC Staff and 1 Software Group Representative. All criteria elements below will be given a score of 1 to 10. The final score will be formed by the weighted score of all:
- Applicability to the market and technological environment: 20%
- Cost-effectiveness: 20%
- Expected increase in end-user outreach: 10%
- Sustainability of proposed solution: 15%
- Scalability of proposed solution: 10%
- Social impact: 25%
Final score = Applicability score X 20% + Cost effectiveness score X 20% + Outreach score X 10% + Sustainability score X 15% + Scalability score X 10% + Social impact score X 25%
* The application runs only on Android