Call for Urban Future Finance Challenge

Are you passionate about urban transformation in the Western Balkans? Are you working on a high-impact and scalable innovative financing solution? Then the BOOST: Urban Future Finance acceleration programme is for you! 

Cities in the Western Balkans are finding it tough to secure the funds they need for growth and development. Strict rules, limited budgets, and a lack of interest from investors make it hard to fund important urban projects, especially those that offer immense public value but are low in financial return. On top of that, cities in the region struggle to show the financial value of sustainable projects and to get local communities involved. These challenges are creating significant roadblocks to sustainable, green and inclusive urban futures. 

To address these challenges, UNDP is launching the BOOST: Urban Future Finance acceleration programme focused on identifying, further developing and scaling novel financial solutions that can drive urban transformation in the Western Balkan region. The programme is open to startups, micro, small and medium-sized enterprises, social enterprises, non-profits, academic institutions, and municipalities.

BOOST will onboard up to 20 teams working on innovative solutions with the potential to unlock urban growth. Selected participants will benefit from a wealth of resources provided by UNDP and our partner SocialTech Lab, an organization working to harness the power of technology & innovation to create ecosystems that foster collaborative entrepreneurship and resilience. The programme will include

• Participation in a four-week BOOSTCamp, featuring an in-person event in November (location to be announced), offering an immersive, hands-on experience with key networking opportunities. 
• Tailored training sessions designed to fast-track solutions towards market readiness and scalability. 
• Exclusive mentorship from industry experts, specializing in impact measurement, business model development, and innovative financing strategies. 
• Matchmaking opportunities with cities ready to test and implement cutting-edge solutions. 
• Opportunities to access financial and technical support from UNDP, investors and partners.
• A lifelong alumni network, providing continued support, collaboration, and valuable connections.

Eligibility criteria

Location registration:
Applicants must be based in Albania, Bosnia & Herzegovina, Kosovo*, Montenegro, North Macedonia or Serbia or demonstrate a clear intention to deploy their solution or project there. 

Language:
English

Selection criteria

• Innovation: Uniqueness and originality of the proposed solution or project. Potential for disrupting existing practices or markets. Degree of innovation compared to current solutions.
• Feasibility: Clarity of solution/project’s objectives and implementation plan. Technological and/or operational feasibility and realistic timelines
• Scalability: Potential for expansion and growth beyond the current scope. Ability to adapt to changing market conditions and demands. Strategies for scaling without compromising quality or impact.
• Impact Potential: Anticipated social, environmental, and economic benefits. Measurable outcomes and key performance indicators. Alignment with the innovation challenge’s objectives and focus areas.
• Management: Competence and experience of the management team.  Clear roles and responsibilities within the team and demonstrated capacity for effective project execution.   

Deadline for applications: 21 October 2024
If you have any questions regarding the application process or the programme, you can write to boost@undp.org.