Are you an aspiring entrepreneur looking for financial support to launch or scale your startup? SIMAD iLab is excited to announce the LEAP Microfinance Initiative, designed to empower entrepreneurs through Sharia-compliant micro financing, expert mentorship, and business development support.

Application Process

The application process is structured to identify and support the most promising business ideas:

1. Application Submission: Interested candidates should submit their applications through the LEAP application portal.
2. Initial Screening: Applications will be reviewed based on the potential and viability of the business idea.
3. Incubation Program: Shortlisted applicants will participate in a 2-4 week incubation program to refine their business plans and strategies.
4. Pitch Day: Participants will present their business ideas to the LEAP Committee for funding consideration.
5. Funding & Mentorship: Selected businesses will receive financial support and ongoing mentorship to aid in their growth and development.

What You’ll Get

• Interest-free micro financing
• One-on-one mentorship
• Business development training
• Access to a network of industry experts

Who Can Apply?

To be eligible for the LEAP Microfinance Program, applicants must:

• Be a graduating senior or recent graduate within the past 3 years of SIMAD University or an alumnus of the SIMAD iLab.
• Possess a dedicated team of at least 3 members with clearly defined roles and responsibilities.
• Have a proven product or service with 
• Demonstrate a well-defined business plan including
• Operate within one of the following priority industry sectors:
• Agribusiness
• Fisheries
• Renewable Energy
• Technology
• Creative Industries

Repayment Terms

• Grace Period: A 6-month grace period before loan repayments commence, allowing businesses to establish a stable foundation.
• Repayment Period: A flexible 4-year repayment plan designed to accommodate business growth trajectories.

Application Deadline: 31 March, 2025 
Apply Now: Here

Don't miss this opportunity to secure funding and take your business to the next level!