Call for Proposals for INVEST Initiative
Background
Interlink Capital Strategies (“Interlink”), a U.S. Private Equity Management and Financial Consulting Company has been selected by the U.S. Agency for International Development (“USAID”) as a partner for its INVEST Initiative. In Italy, USAID’s INVEST initiative is supporting businesses that are engaged in the research, development, or manufacture of therapeutics, vaccines, medical equipment, and supplies to respond to COVID-19. INVEST has a two-prong approach: combine catalytic capital to leverage additional investment while simultaneously providing technical assistance to retool production facilities. As part of this effort, Interlink is partnering with USAID to raise and disburse capital to Italian manufacturers that meet the criteria to support Italy’s goal to increase the national production of needed COVID-19 supplies *
Interlink has teamed with three Italian partner companies – Morus Alti Campi, Centro Ortopedico Fisioterapico Cittá di Catania and SportFisio – and is seeking local business partners actively addressing the COVID-19 pandemic response through their operations. By launching two formal “Calls for Proposals” in October 2020 and in March 2021, Interlink seeks to provide catalytic funding that will allow Italian companies and its financiers to raise additional funds to permit them to aggressively expand or transition into activities that will provide the Italian economy with more tools to eradicate COVID-19.
Interlink has teamed with three Italian partner companies – Morus Alti Campi, Centro Ortopedico Fisioterapico Cittá di Catania and SportFisio – and is seeking local business partners actively addressing the COVID-19 pandemic response through their operations. By launching two formal “Calls for Proposals” in October 2020 and in March 2021, Interlink seeks to provide catalytic funding that will allow Italian companies and its financiers to raise additional funds to permit them to aggressively expand or transition into activities that will provide the Italian economy with more tools to eradicate COVID-19.
Eligibility to Apply
Italian manufacturing or distribution companies (even start ups and sole proprietorships) with at least 1 year in operation are eligible.
- No size constraints
- Companies seeking to expand current COVID-19 supplies productions/distributions OR
- Companies seeking to convert current manufacturing operations to make viable and quality product related to COVID-19.
- Special consideration will be given for businesses whose production benefits the Southern Regions of Italy
Project Requirements
Must be expansion or conversion of manufacturing or distribution of the following products:
- Medical Devices
- Person Protective Equipment (PPE)
- Vaccines
- Medicines for COVID treatment
Funding Opportunity
The 15 successful applicants will receive:
While these are suggestions, the activities supported by the funds are not limited only to these examples.
The sole intent of this capital is to leverage these funds on behalf of recipients to obtain 5 to 10 times more funding from other sources in order to financially support Italian companies engaged in the production of devices, tools, medicines, and personal protection equipment used by the health sector for COVID-19, but also for possible future outbreaks to strengthen the entire Italian economy during this crisis.
- Between $25,000 to $100,000 USD or more, in catalytic capital to be used by company to attract further funding from financiers or investors, or other government institutions, needed to fund the proposed project.
- A few examples of how this money could be used (although the list is not exhaustive):
- as a guarantee for a bank loan previously unattainable
- as a first-loss credit enhancement to any investor or financier in the proposed project
- help fund technical assistance to obtain off-take agreement, legal documents or feasibility studies, and/or to satisfy investor due diligence
- as working capital
- as in-kind technical assistance from Interlink to assist in raising funds
- A few examples of how this money could be used (although the list is not exhaustive):
While these are suggestions, the activities supported by the funds are not limited only to these examples.
The sole intent of this capital is to leverage these funds on behalf of recipients to obtain 5 to 10 times more funding from other sources in order to financially support Italian companies engaged in the production of devices, tools, medicines, and personal protection equipment used by the health sector for COVID-19, but also for possible future outbreaks to strengthen the entire Italian economy during this crisis.
This catalytic funding ($25,000-$100,000) will not be required to be paid back once disbursed to recipients. However, recipients will need to demonstrate how catalytic funding has been used.
Evaluation Criteria
Please click here to see the evaluation criteria used to evaluate the applications. All submitted applications will be examined by a multidisciplinary commission that will analyze the aspects of general feasibility, economic-financial sustainability, technical and medical-scientific validity. At the end of the selection, a ranking will be drawn-up and up to fifteen companies will be admitted to the phase of concrete financing.
Application Process:
The application is user-friendly with limited requirements for applicants. Financial and technical information will be required and a compelling case of how the funds will be used to attract additional loans, investment or grants. All interested companies must complete the application below in order to considered for the funding. After the close of the calls, all applications will be scored according to the public evaluation criteria. The first call is open from October 26 to December 11, 2020 with award announcements in the week of January 25th, 2021. This initiative is part of the U.S. Agency for International Development’s $50 million commitment support to the Italian people in responding to COVID-19.
For any further questions, please feel free to reach out via email usa4italy@interlinkdc.com.
For any further questions, please feel free to reach out via email usa4italy@interlinkdc.com.
Applications submissions will begin on October 26, 2020
* More information can be found at https://www.usaid.gov/news-information/press-releases/apr-11-2020-united-states-providing-health-and-humanitarian-assistance-italy
This webpage is made possible by the support of the American People through the United States Agency for International Development (USAID). The contents of this website are the sole responsibility of Interlink, and do not necessarily reflect the views of USAID or the United States Government.