The Malawi Innovation Challenge Fund is a competitive facility, through which businesses in Malawi's agricultural and manufacturing sectors can apply for grant funding for innovative projects with potential for making a strong social impact and helping the country to diversify its narrow range of exports. The first round of competitive bidding opened in April 2014.The fund is aligned on the three clusters selected within the country's "National Export Strategy": oil seed products, sugar cane products and manufacturing. It provides a matching grant of up to 50% to innovative business projects to help absorb some of the commercial risk in triggering innovation. This support should speed up the implementation of new business models and/or the adoption of technologies. The fund is endowed with US$8 million from the United Nations Development Programme and the UK Department for International Development.