The Innovation Fund aims at supporting technically and financially viable business oriented initiatives and development of new ideas that can enhance the performance of Kenya's agricultural sector.
Funds will be granted for the support of initiatives that fall within key areas identified in the SRA and the Kenya Vision 2030.
Priority access to fund resources will be given to small and medium businesses at national, provincial, district, divisional and grassroots levels. In addition, support could also be given to the following kind of applicants:
- Business Member Organisations and companies within the broad agriculture and agribusiness sector;
- Farmer/producer cooperatives;
- Farmer/Producer Organisations/Associations;
- Individual initiatives - particularly those with spill-over benefits to the community.
Applications that are generated at local level (province, district and division and lower levels) or aim at benefiting stakeholders at these levels will in particular be encouraged. Likewise, the Fund encourages the development of projects that involve participation from the public sector, principally with the aim of linking government systems to new partnerships and collaboration with private sector players (public - private partnerships).
For businesses, it is expected that they would have been in operation for at least one year and that they are able to present evidence of having an account in a bank or financial institution. Organizations applying must be duly registered. As a show of commitment, the applicants will be required to contribute at least 10 per cent towards the cost of the iinitiative either in form of cash or in-kind.