Frequently Asked Questions

+ Where can get information on some of the issues at present faced in the world of micro-finance?

Our Outreach Partner, FinDev Gateway, has lots of further information about the present issues which face financial inclusion inclusion in the Arab world

+ When will the application be available?

The application is available as of the opening of the prize and until the deadline of 10/08/2018 at 18:00 (GMT+2).

+ Can I get an extension on the application deadline?

No. To be fair to all applicants and to meet our timeline for the judging process all applications must be submitted online by the stated deadline.

+ Can I submit more than one idea?

No.

+ Regarding the main contact information, must this person be inside the nominee’s organization?

Yes. The main contact person will be the person representing the organization or team vis-à-vis AFIIP. This person must therefore have the relevant authority from their team, in order to be presented as the main contact point.

+ I completed my application in Word – can I email it?

No. You must submit your application via the online form. If you have any issues using the online form, simply email innovate@afiip.org.

+ We’d like to supplement our application with our brochure – how can I send that to you?

To ensure we are equitable to all applicants we base judging decisions solely on the content of the online application form and do not accept additional documents as part of the application. Short-listed candidates will have the opportunity to submit supplementary documents in the second round.

+ I submitted my application but now realize I omitted important information – how do I edit it?

You may resubmit your application in its entirety prior to the deadline and we will put forward the application with the latest submission date/time for judging consideration.

+ I submitted my online application form but didn’t get a confirmation – did you receive it?

If you did not receive a confirmation email, please first check your spam/junk folder for an email from innovate@afiip.org. If no confirmation is there, please email us at innovate@afiip.org and we can verify receipt.

+ How will I know if we are shortlisted?

If your proposal has been shortlisted, the main contact listed on your application will be contacted in the weeks following the initial deadline. An email announcement will be sent to all applicants to announce the shortlisted proposals.

+ Can we change our project/idea if we are shortlisted?

No. Finalists must maintain the same project/idea in their final submission as they did in their first application form. The team must also remain the same in the event of a group application.

+ Do applicants maintain the intellectual property rights for their ideas??

YES. All IP presented as part of an application to AFIIP, remains the ownership of the applicant. Applicants give the right to AFIIP to use their name and ideas as part of general AFIIP promotion and communication.

+ What can I do with my prize money?

Prizes money awarded will have no restrictions or conditions, although the winners will be encouraged to remain engaged with the AFIIP network. Moreover, in-kind consulting and support services offered to winners, including attendance of the Village Capital Finance Forward bootcamp, will be contingent upon clear engagement and progress by applicants, and may have specific commitment requirements.

+ Is tax due on the prize money?

AFIIP reserves the right to withhold tax if applicable.