Islamic Development Bank /
Call for Innovation via Transform Fund 2020
Enhancing Member Countries Preparedness and Response to COVID-19 Pandemic
The IsDB Group is coordinating a wide-ranging response to the impact of COVID-19. It has set up a Strategic Preparedness and Response Facility which will oversee a response package. The facility will focus on emergency preparedness to curb the spread of the COVID-19, minimizing the socio-economic impact of the pandemic especially on poor communities, and building the resilience of our Member Countries in responding to outbreaks and pandemics.
We recognise our Member Countries need the necessary tools to be more resilient to epidemics and pandemics as well the ability to quickly recovery economically. These tools and interventions will have long-term benefits beyond a specific pandemic event.
One of the many issues this pandemic has shown us, is that our survival depends on how much we keep investing in science, technology and innovation.
The IsDB has a longstanding commitment to harnessing the powers of STI as a means to unlocking global development challenges. Our US $500 million Transform Fund, launched in 2018, invests in early stage innovative ideas and the scaling of innovations by providing seed money for innovators, entrepreneurs, startups, SMEs and institutions that need initial funding and growth capital to develop their ideas.
We are pleased to announce the latest Transform Fund Call for Innovation will focus entirely on supporting our Member Countries long-term preparedness and response to the COVID-19 pandemic. This Call will operate in addition to the IsDB Group’s other wide-ranging initiatives coordinated by our Strategic Preparedness and Response Facility.
Open from 1 April 2020, the Call for Innovation will identify, encourage and reward innovative proposals that will benefit local communities focused on the following:
The Fund will look for applications specifically linked to tackling COVID-19 in relation to the following six UN Sustainable Development Goals:
The categories of application are:
- New Ideas with Proof of Concept, Funding Opportunity: Grants ranging from US$ 50,000-100,000
- Capacity Building in Science, Technology and Innovation Funding Opportunity: Grants ranging from US$ 100,000-150,000
- Scaling up of Innovative Projects, Funding Opportunity: Equity Participation up to US$ 300,000
- Commercialization of Technology Funding Opportunity: Equity Participation up to US$ 1,000,000
Through Transform, innovative ideas will be translated into real development solutions that will address development challenges and empower the communities and youth in particular to realize their full potential.
Linked to the Engage hub, Transform will accelerate science, technology and innovation led solutions that drive economic and social progress in the developing world.
For eligibility criteria and other operational matters, candidates may be assisted by referring to Operational Guidelines for the Application for the IsDB-STIF.