The Enterprise Challenge Fund (ECF) for the Pacific and South-East Asia was a A$20.5 million pilot program funded by Australia (through
AusAID
Australian Aid is the brand name used to identify projects in developing countries supported by the Australian Government. As of 2014 the Department of Foreign Affairs and Trade (DFAT) has been responsible for Australia's official developme ...
) commencing in July 2007 that ran for six years, concluding in October 2013. It provided A$11.012 million in
grants
Grant or Grants may refer to:
Places
*Grant County (disambiguation)
Australia
* Grant, Queensland, a locality in the Barcaldine Region, Queensland, Australia
United Kingdom
*Castle Grant
United States
* Grant, Alabama
*Grant, Inyo County, ...
to help commercialize innovative business ideas in low-income markets, with a focus on innovative solutions that addressed
market failure
In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value. Market failures can be viewed as scenarios where ...
s. It ran through competitive rounds and was overseen by a private sector board. 21 businesses were funded. It used a
challenge fund
A Challenge Fund (also referred to as enterprise challenge fund) is a competitive financing facility to disburse donor funding for international development projects, typically utilizing public sector or private foundation funds for market-based o ...
model and called for proposals in multiple rounds.
A$11.012 million was granted to 22 projects in
Cambodia
Cambodia (; also Kampuchea ; km, កម្ពុជា, UNGEGN: ), officially the Kingdom of Cambodia, is a country located in the southern portion of the Indochinese Peninsula in Southeast Asia, spanning an area of , bordered by Thailan ...
,
East Timor
East Timor (), also known as Timor-Leste (), officially the Democratic Republic of Timor-Leste, is an island country in Southeast Asia. It comprises the eastern half of the island of Timor, the exclave of Oecusse on the island's north-we ...
,
Fiji,
Laos,
Papua New Guinea
Papua New Guinea (abbreviated PNG; , ; tpi, Papua Niugini; ho, Papua Niu Gini), officially the Independent State of Papua New Guinea ( tpi, Independen Stet bilong Papua Niugini; ho, Independen Stet bilong Papua Niu Gini), is a country i ...
, southern
Philippines
The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no),
* bik, Republika kan Filipinas
* ceb, Republika sa Pilipinas
* cbk, República de Filipinas
* hil, Republ ...
,
Solomon Islands
Solomon Islands is an island country consisting of six major islands and over 900 smaller islands in Oceania, to the east of Papua New Guinea and north-west of Vanuatu. It has a land area of , and a population of approx. 700,000. Its ca ...
and
Vanuatu
Vanuatu ( or ; ), officially the Republic of Vanuatu (french: link=no, République de Vanuatu; bi, Ripablik blong Vanuatu), is an island country located in the South Pacific Ocean. The archipelago, which is of volcanic origin, is east of no ...
.
See also
*
AusAID
Australian Aid is the brand name used to identify projects in developing countries supported by the Australian Government. As of 2014 the Department of Foreign Affairs and Trade (DFAT) has been responsible for Australia's official developme ...
*
Private Sector Development
Private sector development (PSD) is a term in the international development industry to refer to a range of strategies for promoting economic growth and reducing poverty in developing countries by building private enterprises. This could be through ...
References
{{Reflist
Grants (money)
International development programs