DAVAO CITY—Australia’s Enterprise Challenge Fund (ECF) opened its second bidding round of applications for businesses “with impact on poverty alleviation and which are willing to overcome external obstacles and share some of the risks.”

Jason Magnaye, ECF country manager, said each bidding round consists of two stages, of which the first stage closed only Monday last week. The first stage would require companies to submit only concept notes, a concept paper which gives a general overview of the project being proposed for funding.

Bidders would prepare and submit their project proposal, or the full application, only if their concept note was favorably considered, Magnaye said.  “Otherwise, they can keep on resubmitting improved versions of their concept note until it is approved to proceed with the full application.”

It was not immediately ascertained how many submitted concept notes these were when the first stage of applications closed Monday.

Magnaye said the concept notes would be evaluated for basic eligibility criteria for bidders before being certified eligible for funding. This would happen in the next stage that would run from July to November this year.

The Enterprise Challenge Fund for the Pacific and Southeast Asia   provides businesses with grants between A$100,000 and up to $1.5million (equivalent to P63.75 million) “to commercialize sound business ideas that also have a positive impact on poverty reduction.”

The ECF was established to encourage businesses to develop viable commercial projects which would result in increased incomes, improved livelihoods and access to services for the local community, he said.

Projects must be led by “for-profit businesses,” he said. However, nongovernment organization and other groups “may be partners in consortium bidding for a grant,” Magnaye added.

Bidders must also be able to demonstrate that their project could not have obtained commercial funding and must be able to provide a minimum of 50 percent of the business project’s implementation costs.

“All the eligibility criteria are set out in the ECF web site, www.enterprisechallengefund.org, and bidders are advised to review these criteria before submitting a concept note,” he said.

He added that concept-note templates have also been provided on the ECF web site to assist interested businesses. Concept notes can then be submitted online or e-mailed.

An ECF primer said that “by providing up to half of the project’s costs, the ECF helps otherwise profitable business projects to overcome external obstacles and share some of the risk.”

To be awarded an ECF grant, bidders must complete a two-stage application process, including the submission of a brief concept note. If invited by an independent assessment panel, the second stage is a more detailed application due in November 2008.

Since the ECF’s launching last year, 37 concepts have been received from the Philippines during the first bidding round, which ran from October last year to April this year. The first stage of submission was closed in December last year.

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DAVAO CITY—Australia’s Enterprise Challenge Fund (ECF) opened its second bidding round of applications for businesses “with impact on poverty alleviation and which are willing to overcome external obstacles and share some of the risks.”

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