Tuesday, 21 April, 2020
Based in Saudi Arabia, the Islamic Development Bank (IsDB) is a multilateral development bank that strives to improve the lives of its Member Countries and Muslim communities worldwide. IsDB Engage is a digital hub set up to accelerate economic and social progress in the developing world through the power of science, technology and innovation.
IsDB's Enhancing Member Countries Preparedness and Response to COVID-19 Pandemic initiative, operating through the Engage hub, is part of its Transform Fund Call for Innovation 2020. The Transform Fund helps to turn innovative ideas into development solutions and the 2020 programme will focus entirely on supporting IsDB Member Countries' long-term preparedness and response to the coronavirus pandemic, including:
The call will identify, encourage and reward innovative proposals that will benefit local communities focused on the following:
Applications should aim to tackle COVID-19 in relation to the following six UN Sustainable Development Goals: 2 - Zero hunger; 3 - Good health and wellbeing; 4 - Quality education; 6 - Clean water and sanitation; 7 - Affordable and clean energy; and 9 - Industry, innovation and infrastructure.
The scheme is open to scientists, innovators, companies (including SMEs) and institutions that require initial funding and growth capital for their ideas/projects. These ideas/projects must result in technologies and solutions that will contribute to the development effectiveness of IsDB Member Countries and Muslim communities in non-member countries.
The IsDB Transform Fund uses two modes of financing: grants and equity participation. The categories of application are:
Equity investments are only made to legally registered private sector companies that were founded by scientists and innovators (start ups). Projects should have a definite exit timeline, which should be agreed upon with IsDB in advance.
Applications must be submitted by the deadline of 1 June 2020.
More information about this research funding opportunity and the application process is available on the RESEARCHconnect funding information platform. RESEARCHconnect provides up-to-the minute content, insight and analysis on research funding news and policy. To find out more about how RESEARCHconnect can keep you in the know, and subscription fees, contact us today.