Islamic Development Bank - Call for Innovation via Transform Fund 2020

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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.

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

https://www.isdb-engage.org