APPLY: The Swiss Re Foundation Entrepreneurs for Resilience Award on entrepreneurial initiatives ($700,000 Prize)

The Swiss Re Foundation Entrepreneurs for Resilience Award honors business endeavors that use cutting-edge methods to create resilient societies and achieve the Sustainable Development Goals. Although this annual program’s main subject is resilience, its precise focus varies from year to year.

Every year, health costs are thought to push 100 million people into extreme poverty worldwide. A single disease can endanger the health and well-being of entire families if there is no financial safety net in place. More than ever, innovative healthcare financing strategies are required.

By 2024, the Swiss Re Foundation wants to increase access to basic healthcare for at least 1 million additional people. This request for proposals is a call to action for social entrepreneurs operating in LMICs to increase the financial accessibility of healthcare in low-income neighborhoods. The Entrepreneurs for Resilience Award for 2023 is focused on cutting-edge, commercially viable innovations that improve low-income communities’ ability to pay for healthcare and that:

  • Raise the amount of money available to households for healthcare (e.g. through savings, payment and credit solutions)
    After a disease or an accident, lessen health shocks that can cause poverty or economic vulnerability (for example, by using microinsurance or other “safety nets”)

Award elements:

700 000 USD in grants altogether for the three winners. The winner (who might receive up to USD 350 000) and the two runners-up each receive a portion of this money, which is distributed among them and paid out over the course of two to three years.
– Non-financial assistance, including as coaching and technical guidance from Swiss Re staff and specialists, will be provided as needed for each finalist.
– The whole public is welcome to cast their vote for their preferred finalist. The winner of the People’s Choice Award, who also receives a special reward, earns the most votes.

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The finalists will receive non-financial support from specialists at Swiss Re and elsewhere, as well as funding of up to USD 700 000.

Eligibility requirements
Objectivity and purpose – Applicants must show significant societal benefit and, preferably, be able to quantify it (e.g., by improved health metrics or/and decreased out-of-pocket costs).

target audience – A minimum of 30% of the clients that applicants serve must reside in underprivileged areas. Candidates must have a thorough awareness of the unique situations of the clients they assist, including both women and men (eg barriers to using financial instruments to better manage their healthcare). The Swiss Re Foundation will give businesses that are inclusive of all genders priority.

Geographically – applicants must work in nations that the World Bank classifies as low- or lower-middle-income.

Maturity – Applicants must be legally recognized, provide services to at least 20,000 individuals, and have the potential to reach at least 100,000 individuals within the next three years. In order to enhance their business model, reach low-income households, and/or achieve complete financial sustainability, they should also be on a clear road to financial sustainability but still need grants (or other forms of help).

Scalability – If applicants want to provide value to underserved groups on a large scale, they must leverage digital technologies or have highly digitalized processes.

Organization – applicants must have a strong management team with clearly divided and defined responsibilities. They ought to employ a workforce that is both diversified and organized.

Legal observance – The applicant must be able to accept grant funding from a Swiss non-governmental organization such as the Swiss Re Foundation and must abide by the laws of the nation or countries in which they operate and are registered.

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Applying procedure – On December 2, 2022, the application period will start. By January 23, 23:59 CET, applicants must complete the online questionnaire. Applications must be submitted in English and on time to be evaluated.

The selection procedure is as follows: – Between mid-February 2023 and mid-April 2023, 12 candidates will be chosen, and their founder(s) will be invited for a two-hour interview.
– Six candidates will be chosen for the second phase and asked to hold a two-day on-site due diligence visit in May or June 2023 under the direction of Swiss Re Foundation personnel. By the middle of June 2023, each of the six businesses will also need to create a brief video (or submit an already-existing one) describing their project, strategy, and accomplishments.
– The three Resilience Award finalists will be chosen in the third round. Between mid-July and mid-September 2023, at least one founder from each finalist company will receive coaching on how to create and present a pitch. considered.

The top contenders will receive invitations to Zurich, Switzerland, from September 18 through September 21, 2023. The Center for Global Dialogue, Swiss Re’s top meeting space, will host the prize event. Each finalist’s founder(s) will present their idea during the ceremony to the Resilience Award Jury, which will then decide how to distribute the award money. The jury is made up of senior Swiss Re representatives and partners. Visit the Official Webpage of the Swiss Re Foundation Entrepreneurs for Resilience Award 2023 Deadline: JANUARY 23, 2023

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