Round 2 of the Logistics Innovation for Trade (LIFT) Challenge Fund has been announced. The LIFT Challenge Fund is a US$16 million grant-based financial mechanism that supports innovators with good ideas for products or services that reduce the costs of transport and logistics in East Africa.
This time round, the fund will provide grants ranging from US$ 150,000 to US$ 1,000,000 to winning proposals whose implementation location is within the East African Community (EAC). East Africa is reported to have the highest freight and transport costs in the world; over 50% higher than the USA and Europe per kilometre and this is why this initiative is important.
LIFT is a project of TradeMark East Africa (TMEA) and it is managed by Nathan Associates with funding from the UK Government’s Department for International Development (DFID). Round 1 of the challenge fund saw 9 projects being awarded grants.
The LIFT Challenge Fund is open to businesses and individuals throughout the world that are either presently operating or intend to be based in the EAC. Businesses in the transport and logistics sector, or those that provide services to actors within it, can submit the proposals
Projects submitted are expected be aligned with the following outcome priorities:
1. Increase Efficiency and/or Reduce Costs in the Transport and Logistics Sector in the East African Community (EAC).
2. Supporting Policy Change and Advocacy to Improve the Functioning of the Transport and Logistics Sector in the EAC.
Submit your application here lift-fund.com/apply/. Applications close on 12th August 2016.