MFC is proud to present the first ever MFC Innovation Award!

mfc software

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.

How to apply: you can apply via the new MFC mobile app* or through the following link. The description of your future project must be in line with the following criteria:

  • 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.

Innovation Award:

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

Evaluation Criteria:

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:

Criteria: Weight

  • 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