The Small and Medium-sized Enterprises Promotion Agency (SMEPA) has launched the 4th edition of the “2024 Prototype Support Fund” under the distinguished patronage of the President of Cameroon. This initiative is a call for project proposals aimed at innovative entrepreneurs and tech startups who are driving change in line with the National Development Strategy (NDS-30), which seeks to position Cameroon for emergence by 2035. The 2024 Prototype Support Fund is not just a competition; it is a powerful platform for nonprofits, tech startups, and entrepreneurs to secure funding, mentorship, and recognition.
About the 2024 Prototype Support Fund Cameroon
The 2024 Prototype Support Fund is a prestigious initiative designed to bridge the gap between idea conception and market realization for tech nonprofits and startups. From August 5 to September 10, 2024, at 12:00 noon, applications are open online. This program targets social entrepreneurs, researchers, inventors, startups, and SMEs committed to creating or advancing innovative solutions across various growth industries. Through this competition, SMEs and nonprofits in tech can gain vital resources and guidance needed to scale their innovations.
Applicants can find comprehensive details on the application procedure, including the necessary documentation and registration process, in the General Regulation for this Call for Project Proposals available on the website. Alternatively, entrepreneurs can visit SMEPA’s Head Office in Yaoundé at Tsinga, Boulevard Sultan Njoya, or reach out to the agency’s regional offices for additional information.
Targeted Participants
The 2024 Prototype Support Fund Cameroon is strategically aimed at a wide range of innovative actors:
- Entrepreneurs, inventors, and innovators residing in Cameroon or in the diaspora with transformative ideas for setting up or expanding their business operations in Cameroon.
- Young entrepreneurs under 35 and women from all 10 regions of Cameroon who have benefited from SMEPA’s training programs.
- Cameroonian SMEs established under local law and currently operational or in the process of being established, with majority Cameroonian ownership.
- Members of the defense force in retirement or pre-retirement who possess innovative solutions aimed at creating or growing their businesses within Cameroon.
In case of a tie in the selection process, priority will be given to candidates who have received training or support from public or private incubation structures.
Eligibility Conditions for the 2024 Prototype Support Fund Cameroon
To qualify for the 2024 Prototype Support Fund, candidates must demonstrate a mature idea or project that is technologically and scientifically advanced. Specifically, applicants should meet at least one of the following criteria:
- Innovative Idea: Possess an idea or invention related to a product or service that is innovative and can be developed into a proof of concept or pre-prototype.
- Proof of Concept: Own a proof of concept or an invention patent that addresses targeted sectoral themes and is ready for the next phase of prototype development.
- Pre-Prototype: Have a pre-prototype or physical prototype that can be produced in a pre-series for market testing. This phase should enable adjustments and finalization of the prototype for industrialization.
- Finished Prototype: Possess a finalized prototype seeking market entry or requiring support for commercialization. The successful candidate must commit to being fully available throughout the support period and providing all necessary resources.
Achievements from Previous Editions
Since its inception in 2020, the Prototype Support Fund has achieved remarkable milestones:
- Over 40 SMEs created
- More than 30 patents issued
- 40+ prototypes developed
- 40+ prototypes successfully brought to market
- 17 targeted sectors supported
- 200 million FCFA in grants distributed
Application Process
Entrepreneurs and innovators interested in applying for the 2024 Prototype Support Fund can submit their proposals online through the official application portal.
Discover More Opportunities
For more funding opportunities for African startups and entrepreneurs, explore other calls for projects on DADUPA by visiting DADUPA Call for Projects.