THE INNOVATION CHALLENGE
Identifying and supporting growth-oriented SMEs
ContextDecades of economic recession in Zimbabwe have led to a major shift from waged employment to informal economic activities. SMEs in all sectors have suffered due to the deteriorated business environment and are unable to access finance and business development services, severely challenging their growth and sustainability.
StrategyTo identify green, growth oriented enterprises through annual competitions and provide the winners with technical support to develop and create more and greener jobs, while improving existing ones. SMEs will expand their green products and services through a business development programme supported by strategic alliances with BDS providers and financial institutions. In the long-term, this is expected to strengthen the sustainability of enterprises and offer a business case for Zimbabwe to go green.
InterventionThere is potential for greening across all economic sectors. A national business plan competition, the Green enterPRIZE Innovation Challenge, will be held annually to screen and identify about 75 growth oriented SMEs among both emerging and established enterprises that will gain access to financial and non-financial services throughout the business development cycle. About 500 runners-up will receive training and capacity building services. A network of BDS providers will be capacitated to train competition entrants and provide coaching and post-challenge technical support to winners and runners-up. The Green enterPRIZE Innovation Challenge will also carry out awareness raising to increase consciousness of the role of the private sector in achieving sustainable development and to inspire other firms to go green.
Green and growth oriented SMEs supported through financial and green BDS
Green jobs created of which
50 percent for women
SMEs or entrepreneurs access green BDS