Islamic Development Bank (IsDB) Transform Fund – 4th Call for Innovation 2021
The Islamic Development Bank (IsDB) invites applications Transform Fund 4th Call for Innovation 2021- Building Resilience through Innovation in response to the COVID-19 Pandemic
Application Deadline: 31st May 2021
About the Award: We are pleased to announce the Transform Fund Call for Innovation 2021 will focus entirely on supporting our Member Countries response to recovering from the COVID-19 pandemic with the aim of building a stronger, more resilient, and prosperous future. Open for application submission from 1 April 2021 – 31 May 2021, the Call for Innovation will identify, encourage, and reward innovative, high impact proposals that support the following SDGs:
The IsDB has a longstanding commitment to harnessing the power of Science, Technology, and Innovation (STI) to help solve the global development challenges. Our US $500 million Transform Fund, launched in 2018, invests in testing early-stage innovative ideas and in scaling innovation by providing seed money for innovators, entrepreneurs, startups, SMEs, and institutions. We provide needed initial funding or growth capital to develop and commercialize innovations that will generate economic and social impact.
Eligible Field(s): The categories of applications are:
- 1 – New Ideas with Proof of Concept: Grants ranging from US$ 50,000-100,000
- 2 – Scaling up of Innovative Programs in the Private Sector: Private Sector Equity Investment up to US$ 300,000
- 3 – Commercialization of Technology in the Private Sector: Private Sector Equity Investment up to US$ 1,000,000
- 4 – Capacity Building in Science, Technology, & Innovation: Grants ranging from US$ 100,000-150,000
Eligibility: The IsDB-STI Fund will support eligible scientists, innovators, SMEs, and institutions that need initial funding and growth capital for their ideas/projects. These ideas/projects will result in technologies and solutions that will contribute to the development effectiveness of IsDB Member Countries and Muslim communities in non-member
Number of Awards: Not specified
Value of Award:
- Creating innovative, high-value, locally produced products and services in IsDB Member Countries for local markets and export to international markets.
- Creating and delivering innovative low-cost solutions to serve poor communities in Member Countries to facilitate access to social and basic services interrupted by the pandemic. This includes but is not limited to 1) education and schools, 2) physical distancing and hygiene, 3) home delivery and shopping, 4) mental and psychological support, and 5) communication and virtual business.
- Boosting or enhancing manufacturing capabilities in Member Countries, particularly for strategically important products (e.g., vaccines, drugs, diagnostics, medical supplies, water and sanitation systems, energy systems, high value industrial products)
- Creating innovative products and services that that support supply chain management for strategically important products (e.g., vaccines, medical oxygen maintenance, medical supplies, etc.) in Member Countries.
- Applying advanced technologies (e.g. IoT, Big Data, Artificial Intelligence, Blockchain, Smart Sensors, etc.) to enable an autonomous Global Value Chain and create innovative and resilient supply chain, distribution and delivery systems for goods and services in Member Countries for heavily affected industries, with emphasis on building digital trust and addressing COVID-19 vaccines value chain challenges related to distribution and delivery.
- Capacity building interventions targeted at training youth and displaced workers in the digital skills needed to advance in new, innovative, and growing fields.
- Capacity building targeted at improving operational capacities of the institutions involved in COVID-19 vaccines research, production, distribution and delivery, regulation and standardization in OIC countries to reach the standard of quality assurance and safety required by the WHO for vaccine production and export(such activities may include training, experts’ visit, deployment of software applications, upgrading of laboratories facilities, awareness campaigns, etc.).
How to Apply: Please create an account by signing up to participate.
- It is important to go through all application requirements in the Award Webpage (see Link below) before applying.