Selection process

Step 1: Call for Expression of Interest (EOI) - Accepting until 18 November 2025

• Interested applicants can submit their EOI through the link by 18 November 2025. All EOI and supporting material will be screened against the eligibility criteria and against the evaluation criteria where applicable.
• Convergence will only contact shortlisted applicants selected to submit a full proposal (Step 2).
• Unsuccessful applicants are notified. Due to the high volume of applications expected, we regret that at this stage we are unable to provide feedback on unsuccessful applications.

Step 2: Step 2: Full Proposal (By invitation only - Tentative due date 15 December 2025)

• Selected Expressions of interest will be invited to submit a full proposal. Those advancing to this stage receive instructions on how to submit a proposal. Final proposals must be submitted by the 15 December 2025 deadline in order to be considered.
• Application Review: All full proposals will be reviewed and assessed against the evaluation criteria by Convergence. Convergence may request additional information as necessary.

Step 3: Shortlisting, Pre-Due diligence and Due Diligence

• Pre-Due Diligence Interviews: Based on the review, Convergence will short-list the top proposals for Pre-Due Diligence. This may include interviews and Q&A sessions with the applicant’s management team and will include a brief presentation using the materials submitted in the full proposal. Following this, the team will short-list applicants for due diligence.
• Due Diligence: Shortlisted proposals will undergo two types of due diligence in parallel:

1. Proposal-level: Convergence will request responses to detailed questions on the proposal, and introductions to key stakeholders for interviews. Additionally, Convergence will request the applicants for key documentation to support the stage of the applicant.
2. Applicant-level: Applicants will undergo a compliance review led by Convergence’s Finance and Compliance team. All applicants will be required to submit key documents including incorporation certificate, audited financial statements of the last 2 years, organogram and pitch deck. Additional documents may also be requested depending on the stage/type of the grant, such as proof of investor commitments, legal documentation, etc.

Step 4: Investment Committee

• Shortlisted proposals that satisfactorily clear due diligence will be recommended by Convergence to the Investment Committee.
• The Investment Committee is composed of independent experts who will recommend proposals to the Convergence Senior Management or Board for final approval.
• Shortlisted applicants that do not pass due diligence or IC approval are notified. Convergence may provide high-level feedback to the unsuccessful applicants.

Step 5: Final Approval by Board & Compliance Checks

• Proposals recommended by the Investment Committee undergo a final compliance check and review of the proposed grant budget. Following that, the applications are reviewed for final approval by the Convergence Senior Management or Board.

Step 6: Contracting and Announcement

• Following final approval from the Convergence Senior Management or Board, Convergence initiates the contracting stage with the selected awardees.
• Convergence will execute contracts with the selected awardees that includes the design activities and key milestones agreed upon with the awardees. Announcement of the awardees will be made publicly shortly after.
• Convergence may also announce the list of applicants that made it to the final stage but did not receive the grant funding, acknowledging high quality of ideas.

Notes:

• Convergence will only consider one application per organization per funding cycle.
• Convergence is under no obligation to provide feedback on expressions of interest or proposals.
• Proposals must be submitted in English

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