The Islamic Development Bank (IsDB): Inviting applications for ‘Science, Technology and Innovation Transform Fund (IsDB-STIF)’ to support its Member Countries in finding practical solutions to their key development challenges through the power of innovation.

Funding brief: The Islamic Development Bank (IsDB) has established a special Fund, known as Science, Technology and Innovation Transform Fund (IsDB-STIF) to support its Member Countries in finding practical solutions to their key development challenges through the power of innovation. Transform is a multi-million-dollar fund that provides seed money for innovators, startups and SMEs to develop their ideas and compose a strong business proposal.

Scientists, Innovators, SMEs, Private Firms, Governments & Non-Governmental Organizations, and Academic or Research and Development Institutions in IsDB Member and non-member countries, which are in need of funding support under one of the following four categories of the IsDB-STIF can apply to these categories:
● Category 1: New Ideas with Proof of Concept.
● Category 2: Scaling up of Innovative Projects.
● Category 3: Commercialization of Technology.
● Category 4: Capacity Building in Science, Technology and Innovation

Transform can also provide funding for the commercialization of technology developed through sustained partnerships among researchers and entrepreneurs as well as capacity building support.

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.

The overall aim of the fund is to support the Muslim World with the power of innovation, facilitate the commercialization of technology, promote joint activities among member countries, research institutions, and ensure the development of entrepreneurship.

More specifically, the objectives of the IsDB-STI Fund are to:
(i) Support the Muslim World with the power of innovation, especially social innovation to address key development challenges;
(ii) Support and generate public good through facilitating the commercialization of technology developed through sustained partnerships among researchers and entrepreneurs from IsDB Member Countries (MCs) and non-member countries for socio-economic impact;
(iii) Promote joint activities that would lead to innovation and entrepreneurship through the application of science and technology;
(iv) Promote the continuity of and access to the chain of financing from various financing sources such as angel funds at early stages and hedge funds at later stages, in order to allow small innovative SMEs to flourish their own ideas and create new market; and
(v) Devote a steady and predictable source of funds that is critical for developing STI.

Donor Name: The Islamic Development Bank (IsDB)
Funding name: Science, Technology and Innovation Transform Fund (IsDB-STIF)

Deadline: Call for proposals deadline is July, 31st, 2018

Funding details link: https://www.isdb-engage.org/en/challenge/call-for-innovation-via-transform-fund

 Funding limit:
● Category 1: New Ideas with Proof of Concept- US$ 50,000 to US$100,000
● Category 2: Scaling up of Innovative Projects- US$ 300,000
● Category 3: Commercialization of Technology- US$ 1 million (one million United States Dollars)
● Category 4: Capacity Building in Science, Technology and Innovation- US$ 100,000-150,000

Special Notes: Please contact with the donor directly for further clarification and understanding.

Project start date: Not found
Project duration: Not found

Eligible organization: As below

 Eligibility:
● Scientists, Innovators, SMEs, Private Firms, Governments & Non-Governmental Organizations, and Academic or Research and Development Institutions in IsDB Member and non-member countries

Eligible Country: The overall aim of the fund is to support the Muslim World with the power of innovation, facilitate the commercialization of technology, promote joint activities among member countries.

Submission mail: Not found

Other important link:
● Register to apply: https://www.isdb-engage.org/en/registration/64
● Guideline: https://s3.amazonaws.com/skipsolabs_ladec/frontend/challenge/Guidelines%20for%20the%20Application_English_114d.pdf

How to apply: Interested applicant may apply through the website (https://www.isdb-engage.org/en/registration/64).


Visit all Funding opportunities: 
https://fundforbangladesh.wordpress.com/site-map/
Visit all funding categories:  https://fundforbangladesh.wordpress.com/how-to/access-funding-short-cut/

Facebook page-Fund for Bangladesh

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