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Inno SL

Sierra Leone Economic Diversification Project

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Designed to support the growth of SMEs and Entrepreneurs in sierra Leone

Aim of the Call for Application

Innovation SL on behalf of the government of Sierra Leone and the world Bank is Calling for applications for the acceleration/business development of 20 SMEs, under the sierra Leone Economic Diversification project which aims to diversify the Sierra Leone economy through acceleration /business development.

The SMEs should be from the Light/Small Manufacturing and Agribusiness Sectors .
The aim of this call for application is to help develop the capacities of selected SMEs with technical expertise and grant financing that supports their growth, expansion and ability to create jobs that contribute to the Project’s development objectives. It will also focus on building resilience of companies to overcome economic challenges The program will be implemented in two -phases:
A first phase (8 months) will focus on business diagnosis, formalization, business model development, customer traction and investment readiness through BDS training, coaching, mentoring, peer learning, networking, and linkage building.
A second phase (6 months) of matching-grant competition, award, and implementation (with a phased, performance based, disbursement)

PLEASE SEE THE CALL

SIERRA LEONE ECONOMIC DIVERSIFCATION PROJECT

CRITIERA

ELIGIBILITY CRITERIA
Innovation SL on behalf of the government of Sierra Leone and the world Bank is Calling for applications for the acceleration/business development of 20 SMEs, under the sierra Leone Economic Diversification project which aims to diversify the Sierra Leone economy through acceleration / business development.

The SMEs should be from the Light/Small Manufacturing and Agribusiness Sectors .
The aim of this call for application is to help develop the capacities of selected SMEs with technical expertise and grant financing that supports their growth, expansion and ability to create jobs that contribute to the Project’s development objectives. It will also focus on building resilience of companies to overcome economic challenges The program will be implemented in two -phases:
A first phase (8 months) will focus on business diagnosis, formalization, business model development, customer traction and investment readiness through BDS training, coaching, mentoring, peer learning, networking, and linkage building.
A second phase (6 months) of matching-grant competition, award, and implementation (with a phased, performance based, disbursement)
THE ELIGIBLE SECTOR
This direct support will be available to a SMEs in the non-mining sector,the selected sub- sectors are highlighted below:
1. Light/Small Scale manufacturing 2.Agribusiness

SLEDP

SME SELECTION CRITERIA

The exact criteria to select to a participating SMEs will be based on verifiable market opportenuity, successful track record, growth potential, entrepreneurial potential assessment scores, and personal interviews Accordingly, these criterial will include:
SMEs current operational, financial and market positions,potential demand for their products, considering pre-identified priority market segment,
market Competitveness based on differentitaion, cost and /or focus;
viability of technical interventions for advancing
SMEs registration with the integrated tax administration system(ITAS) and being tax compliant
proper accounting system in place.
Identification of concrete operational, financial or technical growth bottlenecks and the possibility of viable interventions for solving them.
Potential 'spillover' effects into the other sectors, such as fishing, or improving living conditions for local communities.
Inclusivity for women and consideration of special needs for people with disabilities.
Incorporation or adaptation of climate-smart solutions, or climate-resilience in design and/or operations.

SLEDP

SELECTION EXCLUSION

Technical Assistance and Matching Grant will not extend grant in support of activites that support the production of the following:
1. Production of Alcoholic beverages
2.weapons
3.Tabaco
4.Gambling
5.Past Participaant of all world bank projects

SLEDP

Note

Innovation SL together with the Small and Medium Enterprise Development Agency and Project Coordinating Unit will undertake a visit to 100% of all applicants that pass the initial assessment stage. Women owned and managed businesses are particularly encouraged to apply

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SMEs

 

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