Can you devise a strategy to crack the code into reducing the cost of transport and logistics in East Africa? If you can, then you can share a $16 million challenge fund which has been opened for innovators creating realistic logistical solutions.

The Logistics Innovation for Trade (LIFT) challenge fund will provide grants ranging from US$ 200,000 to US$ 750,000 to winning proposals from innovators from across the world but whose ideas will be implemented in East Africa.

LIFT is managed by TradeMark East Africa (TMEA) Challenge Fund with funding support from UK-DFID; and seeks to trigger and introduce innovative approaches to tackling freight and transport costs in East Africa region. East Africa is reported to have the highest freight and transport costs in the world; over 50% higher than the USA and Europe per kilometre. Indeed, transport costs for land locked countries in the region can be as high as 75% of the value of exports. Transit times have the most significant effect on exports and also result in firms having to carry higher levels of stocks making them less efficient. Successful LIFT project applicants will contribute to TMEA objective of reducing transport time along the main East Africa transport corridors by 15% by 2016.

Details for submission of proposals can be found in the LIFT website: www.lift-fund.com.