FUNGUO Fourth Call for Funding Application

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About FUNGUO Fourth Call for Funding Application

The FUNGUO Innovation Programme is a multi-partner initiative designed to unlock the potential of impact-driven startups and innovative micro, small, and medium enterprises (MSMEs) in Tanzania. It does so through catalytic funding, technical assistance, and ecosystem strengthening.

Co-funded by the European Union, the British Government (FCDO), and the Republic of Finland, and implemented by UNDP Tanzania, the Programme works in partnership with other ecosystem players, including enterprise support organizations such as ANZA, StartHub Africa, and WSHA, as well as government partners, including COSTECH and others.

FUNGUO aligns closely with the national development agenda and the Sustainable Development Goals (SDGs), aiming to increase the number of successfully scaled startups and MSMEs that deliver inclusive social and environmental impact alongside commercial returns.

FUNGUO particularly seeks to fill the funding gap in the “missing middle”—where many promising startups and MSMEs struggle to access appropriate early- to growth-stage finance. By offering catalytic funding and tailored support, the Programme aims to:

• Build a viable pipeline of high-potential businesses for follow-on funding by larger institutional and impact investors.
• Strengthen the innovation ecosystem in Tanzania by working collaboratively with other accelerators, incubators, financiers, and government institutions.

This 4th Call for Funding Applications is targeting early- and growth-stage businesses that meet the following criteria:

● Showcase innovation in products, services, business models, or processes.
● Are actively working to scale their solutions, but face limitations in accessing funding from conventional sources.
● Demonstrate high potential for impact in areas such as youth employment, gender inclusion, climate action, digital transformation, or sustainable livelihoods.

• Sponsor Organisation: FUNGUO

Benefits of FUNGUO Fourth Call for Funding Application

• Catalytic funding (non-equity, performance-based grants).
• Technical assistance, including business development, investment readiness, and impact measurement support.
• Visibility and networking opportunities with potential investors, partners, and ecosystem actors.
• Access to FUNGUO’s learning and collaboration platforms.

FUNGUO Fourth Call for Funding Application Requirements

• For-profit entities or market-oriented social enterprises that can be characterised as “startups”.
• Legally registered in Tanzania (incorporated or with a business name registration).
• Majority-owned by Tanzanian citizens (by 51% and above)
• Beyond ideation and pilot stage, with a minimum viable product that has some market traction (post-revenue).
• Have not raised more than $100,000 in funding (in Equity or debt) to date.

Eligible applications will be scored against the following evaluation criteria, and only applications that score at least 70 out of 100 will be considered successful and move to the due diligence stage.

1) Innovation - 35 points

The eligible applicants must demonstrate how innovative they are in terms of products or services they offer, processes, additionality, unique selling proposition, or unique experience they create for their clientele, etc. as compared to the competition.

2) Business Viability & Potential to Scale - 30 points

To be eligible under this criterion, applicants must clearly demonstrate that their business can generate sufficient revenue and profit to sustain itself in the short to medium term. They should also show potential for long-term growth by outlining how they intend to scale their operations, offerings, and market reach.

3) Team & Management - 20 points

Applicants must demonstrate that they have the right expertise, leadership capacity, and human resources to effectively grow and scale their business. The team should also show a strong grasp of how their target market operates, ideally with team members who have direct experience with the problem being addressed or a deep understanding of their customers’ needs and challenges.

4) Development Impact - 15 points

Eligible businesses must demonstrate a strong and measurable positive impact on people and the environment. The venture must not cause harm and should have a business model that delivers meaningful developmental benefits. This includes contributing to the Sustainable Development Goals (SDGs) through actions such as increasing local incomes, conserving natural resources, improving access to essential services, and creating decent employment opportunities.

Application Date and Process

The applicant must submit a complete application form online Link to the website

Only applications submitted online via the provided links and with all the required documentation will be considered.

Applicants will be required to attach some basic documents, including but not limited to

• a business pitch deck (if available),
• proof of company registration,
• proof of shareholding, e.g. Memorandum and Articles of Association (where applicable); 2-year financial projections, profiles of key personnel, etc.

It’s advisable that these documents are prepared well in advance.

Applicants will be able to start and save their applications and get back to them later.

For info sessions regarding this call, please register via this link: https://shorturl.at/2HlkT

For support and any queries, send an email to [email protected]

Application Deadline

19 July, 2025

Scholarship Application Portal

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