Africa Enterprise Challenge Fund

So challenge funds are typically administered through competitive rounds against a defined program, often with staged funding.

An example is the Africa Enterprise Challenge Fund that is an Africa-based, not Africa-funded, Africa-based initiative that's actually funded by Australia, Canada, Denmark, Sweden, the UK, and, uh, IFAD, I-F-A-D And that particular, um, challenge fund results in grants and interest-free loans from, uh, US $250,000 to US $1.5 million maximum per project.

Prizes are awards that follow a demonstrated achievement.

Uh, so an example, um, is the MacArthur Foundation's 100 & Change, uh, funding opportunity that results in a single $100 million grant for one proposal that's open to organizations and collaborations in any field anywhere in the world.