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Swedish Embassy to launch Innovation Against Poverty (IAP).

Amamn, March (Petra)--The Embassy of Sweden in Amman and the Swedish International Development Cooperation Agency (Sida) will launch next Sunday Innovation Against Poverty (IAP).

Innovations Against Poverty is a new Business for Development programme financed by the Swedish International Development Cooperation Agency (Sida). The programme will function as a risk sharing mechanism for sustainable business ventures (commercial companies or market oriented organisations), which have strong potential impact on poverty reduction.

The programme aims at mobilising resources and encourage companies to develop their core activities (i.e. develop services, products and processes) in a way that will contribute to better conditions for marginalised people. This support to "inclusive business models" can engage the poor as innovators, employees, suppliers, distributors or consumers.

The programme focuses on smaller organisations that have good ideas with great potential, but need the support of their business strategy and resources to penetrate new markets. IAP also seeks to work with larger companies, to help support their development of "inclusive business" models.

Companies applying for grants can be active in any sector where innovation leads to poverty reduction, from agriculture and infrastructure to health and education. In other words, an applying company can work in any sector and address any market in a country receiving Official Development Aid, as specified by the OECD, as long as the objective with the business or project is to create a sustainable business operation that will benefit low income earners by engaging them as suppliers, co-entrepreneurs, employees or consumers.

//Petra// ON 20/3/2012 - 04:39:30 PM

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Publication:Jordan News Agency (Petra)
Date:Mar 20, 2012
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