The full selection process takes up to six months on average from the call for proposals launch to final selection.

Funding will be disbursed in tranches according to the achievement of milestones deliverables. The milestones will be agreed upon with the awardees during the contracting stage.

The grant funding will depend on the timeline of the key activities to be completed by the grantee which could take anywhere between 12-18 months. Extension of the grant funding timeline may be granted on a case-by-case basis.

Yes, the grant funding could be partially or fully repayable for Proof-of-Concept grants. Grant Repayment is typically contingent upon the successful launch of the financial vehicle. In this context, a Repayment Event would likely be linked to one or a combination of the following milestones -

• Achievement of a fundraising target in relation to the Financial Close (First Close, second close, or subsequent closes), or
• A revenue generation milestone, following revenue generation either from the underlying operations of the vehicle or from management fees earned by the vehicle manager.

Below is a list of activities that may be eligible for support across various stages. Please note that this list is not exhaustive, proposals may include additional activities that contribute to the design, launch, or scale-up of the financial vehicle. The segregation of activities across the stages is based on typical use cases but may vary across different solutions.