We are delighted to announce the 2021 transform fund Call for innovation which is solely designed to support member countries response to recovering from the COVID-19 pandemic with the aim of building a future that is more resilient, stronger and prosperous.
There will be identification, encouragement and reward for innovative high impact proposals that support the following SDGs, from the call for innovation.
For over a year now, the Covid19 pandemic has been ongoing which resulted to negative socio-economic, and loss impact on our member countries. Communities who are poor and small businesses have been hit with difficulties, and therefore needs additional attention from the lessons of the pandemic, we can now create innovative pathways to help recovery for a more prosperous future, by generating better health outcomes and more jobs.
There can be a change in innovation the way communities that is affected interface, and interact with the entire globe to reduce the restrictions, and difficulties caused by the pandemic. Therefore, it is crucial to support innovative ideas that addresses the needs that are vital.
There is a longstanding commitment which the IsDB has that harnesses the power of science, technology, and innovation to help in solving the challenges of the entire globe and its improvement.
Our US five million dollars transform fund, which was launched in 2018, invests in the testing of early stage innovative ideas, and in the scaling of innovation by providing seed money for entrepreneurs, startups, SMEs, institutions, and innovators.
The body help in the provision of growth capital, or initial funding to help develop, and commercialize innovations that will bring social and economic impact.
Submission of applications will commence from April 1st 2021 to May 31st 2021.
- Proof of concept with new ideas
Grants ranging from us $50,000 – 100,000.
Commercialization of Technology in the private sector: Investment of private sector equity up to us $1,000,000.
Scaling up of innovative programs in the private sector: Investment of private sector equity up to us $300,000.
Building of capacity in science, technology and innovation: Grants ranging from us $100,000 – 150,000.
You can click here to get more info about the categories.
Proposal which are successful will Contribute To One Of The Following
- The target of the capacity building interventions is at the training of youths and displaced workers in the digital skills needed to advance in new, growing fields and innovative.
- Creating of high-Value, innovative, products and services locally produced in IsDB member countries for export to international markets and local markets.
- Creating of innovative services and products that help support the management of supply chain for strategically necessary products in member countries.
- Enhancing or Boosting manufacturing capabilities in member countries, (e.g drugs, vaccines, medical supplies, water and sanitation systems, high value industrial products) particularly for strategically important products.
- Application of advanced technologies (e.g Big data, block chain,smart sensors etc.) to help enable global value chain which is autonomous and create innovative and resilient supply chain, distribution and system of delivery for Goods and services in member countries for industries heavily affected, with emphasis on the building of digital trust and addressing COVID-19 Vaccines value chain challenges related to delivery and distribution.
- The target of the capacity building is at improving operational capacities of the institutions which is involved in Covid19 Vaccines research, distribution production and delivery, standardization and regulation in OIC countries in order to reach the assurance quality standard and safety required by the world health organization (WHO) for vaccine production and export. (Some of the activities which may include training, upgrading of laboratories facilities, development of software’s applications etc).
- Delivery and creating innovative low-cost solutions to help communities that are poor in the member counties to help facilitate access to basic, and social services interrupted by the pandemic. This is not limited to; Education and school, Physical hygiene and distancing, Shopping and home delivery, Virtual business and communication, Psychological support and mental.
For more information: Visit the official webpage of the Islamic Development Bank (IsDB) via https://www.isdb-engage.org/en/page/call-for-innovation-via-transform-fund-en