FREQUENTLY ASKED QUESTIONS
1. What is IDB and what is IDB Lab?
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB works to help improve health and education, and advance infrastructure in Latin America and the Caribbean through technical and financial support to those countries that work to reduce poverty and inequality. Its aim is to achieve development in a sustainable, climate-friendly way. With a history dating back to 1959, the IDB is the leading source of development financing for Latin America and the Caribbean. The IDB provides loans, grants, and technical assistance; and conducts extensive research. The IDB maintains a strong commitment to achieving measurable results and the highest standards of integrity, transparency, and accountability.
IDB Lab is the innovation laboratory of the IDB Group. The purpose of IDB Lab is to drive innovation for inclusion in the Latin American and Caribbean region, by mobilizing financing, knowledge, and connections to co-create solutions capable of transforming the lives of vulnerable populations affected by economic, social or environmental factors.
2. Which are the countries where the projects will be implemented?
The 15 target countries are Bahamas, Barbados, Belize, Costa Rica, Dominican Republic, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Nicaragua, Panamá, Suriname and Trinidad and Tobago.
3. What are the Challenge´s Guiding Questions?
- How can tourism organizations, governments, and related actors in the industry support the design of programs to prepare the tourism workforce for the sector’s accelerated digital transformation?
- How can tourism organizations, governments, and stakeholders currently working in the tourism supply chains work together to incorporate eco-friendly measures to preserve natural resources and biodiversity?
- How can the stakeholders who are part of the tourism value chain work together to meet the growing demand for sustainable food systems, the shift in global consumption patterns, and tourist preferences?
4. What top areas within the tourism sector will be considered?
The top areas for innovation in the sector are:
i) Adoption of innovative technologies to be able to compete at a global level and ensure consumer protection and confidence, as well as adoption of innovations designed to improve the tourism experience and shape the tourism offer;
ii) digital skills for the tourism workforce to support new product development and market intelligence; and,
iii) environmental sustainability through waste management measures, circular economy approaches and climate-smart agricultural innovations and technologies.
5. What technologies will be considered?
Mobile technology to facilitate reservations and sharing experiences; virtual reality to bring remote locations closer to the traveler; Internet of Things (IoT) to customize the guest experience; biosecurity measures to warn and protect the travelers; and the use of big data for analytics to develop visitor profiles, insights and trends, among others available technologies.
6. Where should my organization be registered to participate?
Your organization should be legally registered in one of IDB’s 48 member countries and if it is not registered in the country where the project will be implemented (see question 2) it should present the proposal in partnership with an entity located and legally registered in the country where the project will be implemented. The knowledge, capacities, and products expected to be developed should remain in one of the 15 target countries.
7. If my organization is registered in Europe, Asia, or other region, can I apply?
You can apply only if your organization is registered in one of IDB´s 48 member countries and you follow what is indicated in question 5 above.
8. What types of funding are included in the Challenge?
i) IDB Lab Financing (non-reimbursable and/or reimbursable financing): Grants (from US$250,000 to US$500,000) and Loans (US$500,000 to US$2 million). Please refer to the Guidelines for detailed information on the conditions.
ii) Opportunities to participate in IDB regional network events: Applicants whose proposals are selected will also be included among IDB Lab´s network of global innovators working in the region to exchange knowledge, experiences, best practices, and may have opportunities to participate in networking events organized by the IDB Group and its partners.
Selected Applicants will receive IDB funding once:
(a) The proposed business model has been duly analyzed to obtain evidence of its viability;
(b) The Applicant’s capacity to manage the financial resources and project execution experience has been evaluated; and
(c) A legal written agreement to use IDB Lab funding and counterpart resources towards the implementation of the selected model/project has been signed by both parties (IDB Lab and selected Applicant cleared through the analysis process).
9. Will IDB Lab fund the complete project if my model/solution is selected?
IDB Lab will fund approximately 50% of total project budget; therefore, Applicants must be prepared to contribute with the other 50% to pilot, replicate or scale up the business model, we call these resources “counterpart” (IDB Lab 50% + Applicant 50% = 100% Total Project Cost).
This 50% or “counterpart resources” could be half in cash and half in in-kind resources.
Written evidence of counterpart resources to implement the model (similar to a letter of interest or commitment) will be required upon applying.
10. If I have questions related to my submission, who can I contact?
You can e-mail your questions to: BeyondTourism@iadb.org before the final submission deadline. This mailbox will be open until the selected proposals are announced (September 2020).
Please note that this mailbox is only for technical issues related to the Beyond Tourism Challenge.
12. Can I send the application in a language other than English?
This particular Challenge is bilingual, so feel free to send your application in English or in Spanish. Only the eligibility documents (proof of legal registration, by laws, and audit reports) can be submitted in Portuguese, French, English or Spanish.
13. How do I submit my application?
The application must be completed and submitted online (YouNoodle platform) by July 31st, 2020 (midnight, EST), please visit here to submit your application. Please note that you have to create a username and password.
14. Can I include attachments in support of my application?
The following documents must be uploaded:
i) Written evidence of counterpart resources to implement the model (similar to a letter of interest or commitment).
ii) Registration (this must be a legal document establishing the Applicant as registered or authorized by the government to do business. Organizations with temporary authorizations/licenses to operate in the country where the project will be implemented will not be accepted):
• Applicant registered in the target country where the project will be implemented: copy of Applicant´s proof of legal constitution and incorporation under the laws of the target country where the project will be implemented.
• Applicant is registered in one of the 48 IDB member countries other than the target country where the project will be implemented: copy of Applicant’s proof of legal constitution and incorporation under the laws of one of the IDB member countries, plus a copy of a collaboration/joint venture agreement with an Applicant registered in the target country where the project will be implemented.
iii) Copy of the Applicant’s bylaws and other documents on its corporate governance.
iv) For grants: copies of Applicant's latest annual financial statements for the last 2-3 years (2017-2019), of which the last one has been prepared by an external auditing firm (for grants).
For loans: copies of the Applicant's latest annual financial statements for the last 2-3 years (2017-2019), prepared by an external auditing firm. Companies that do not have externally audited financial statements will not be eligible for loan financing.
Documentation can be submitted in Portuguese, French, English or Spanish in PDF format. The IDB shall not be responsible if not able to open uploaded files.
15. Can other organizations support my counterpart financing requirements?
Yes. Applicants can demonstrate resources from a variety of sources including both national and international government agencies, NGOs, foundations and bilateral and multilateral entities.
16. When will I know the outcome of my application?
Pre-selected Applicants (short-list) will be contacted by e-mail in September 2020 by IDB Lab. Selected Applicants will be officially notified in writing by IDB Lab in October, 2020.
17. Will I receive feedback on the content of my proposal after selected applications are selected?
After Applicant Entities are selected, the IDB does not provide individual feedback or comments on applications.
18. If my organization has received funding from the IDB or IDB Lab in the past, can I still apply?
Yes, however IDB Lab does not finance continuation projects, but rather the project idea must be totally new, with different objectives, and new counterpart resources. Also, to apply for funding again, the prior project must demonstrate positive results.