The Islamic Development Bank (IsDB) has established Transform Fund (IsDB-STIF) to support its Member Countries in finding practical solutions to their key development challenges through the power of innovation. Transform Fund 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.
For eligibility criteria and other operational matters, candidates may be assisted by referring to Guidelines for the Application for the IsDB-STIF.
Deadline: July 31, 2018.