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Science, Technology and Innovation Transform Fund (IsDB-STIF) 2018

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.

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. 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 IsDB-STI Fund will support eligible scientists, innovators, SMEs and institutions that need initial funding and growth capital for their ideas/projects. These ideas/projects will result in technologies and solutions that will contribute to the development effectiveness of IsDB Member Countries and Muslim communities in non-member countries.

Categories

The IsDB-STI Fund will support eligible scientists, innovators, SMEs and institutions that need initial funding and growth capital for their ideas/projects. They will be supported 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.

Eligibility

·        Open to Scientists, Innovators, SMEs, Private Firms, Governments & Non-Governmental Organizations, and Academic or Research and Development Institutions in IsDB Member and non-member countries that are in need of initial funding and growth capital for their ideas and projects

Deadline: July 31, 2018  To apply, review the Guidelines for the Application.

For more information, visit IsDB-STIF.