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REQUIREMENTS
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Applicants can present their proposals under “Grant” or “Innovation Prototype”:
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Grant (nonreimbursable financing)
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This type of financing is offered generally to NGOs, nonprofit organizations, or companies that implement innovative models with limited earning potential but with clear benefits in terms of inclusion and employment and business opportunities.
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Range: US$150,000 – US$500,000
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Counterpart funds: 50% of the total budget, half in cash and half in kind (applicant organization 50% = 25% cash and 25% in kind)
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Expenses that cannot be funded with this mechanism: Purchase of land, construction of infrastructure, and in the case of equipment purchase, software or other products, software or other products, as long as they do not use more than between 10 and 25% of the financing from IDB Lab. IDB Lab does not cover overhead, and there are some restrictions on financing administrative costs.
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Implementation period: Between 12 and 36 months, depending on the case.
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Documents: Present two letters of recommendation, one from an outside collaborator or client who can vouch for the work, and another from an organization or institution that knows the work that has been done and its achievements. The letters of recommendation cannot be submitted by family members or founding or co-founding members of the applicant organization. (Diplomas, invitations to events, or letters of recommendation for other contests will not be accepted.)
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Pitch: Present a video pitch of a maximum length of 2 minutes, explaining the model (the development problem that it addresses, and the innovative solution proposed, as well as the composition of the implementation team). The video link must not be protected. If the video cannot be seen, the application will be disqualified.
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The representatives of the selected entities must be over 18 years of age by June 8, 2019, and must be residents of one of the 48 IDB member countries, with a local partner for the prototype if he or she is not a resident of one of those countries. Entities that have participated previously in a Demand Solutions event are eligible.
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Innovation Prototype (nonreimbursable resources)
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This type of financing will be granted to businesses with high impact, entities with innovations based on disruptive technologies, and new business models. The model of a prototype must be replicable or scalable as long as it is innovative in the local market where it will be implemented. Nonreimbursable financing is offered generally to NGOs, nonprofit organizations, or companies/startups that implement innovative models with limited ability to generate income but that have clear benefits in terms of inclusion and generation of business and employment opportunities.
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Range: A maximum of US$150,000 to develop and test the prototype.
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Counterpart resources: 20% of the total budget, half in cash and half in kind (applicant organization 20% = 10% cash + 10% in kind).
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Allowable expenses under this modality: Capital expenditures (such as equipment, software, and other products), as well as working capital.
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Expenses that won’t be financed: IDB Lab does not cover overhead and there are restrictions on financing administrative costs.
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Implementation period: Maximum of 18 months.
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Documents: Present two letters of recommendation: one from an outside collaborator or client, who can vouch for the work and another one from an organization or institution that knows the work that has been done and its achievements. The letters of recommendation cannot be from family members or founding or cofounding members of the applicant organization. (Diplomas, invitations to events, or letters of recommendation for other contests will not be accepted.)
-
Pitch: Present a video pitch of a maximum length of 2 minutes, explaining the model (the development problem that it addresses, and the innovative solution proposed, as well as the composition of the implementation team). The video link must not be protected. If the video cannot be seen, the application will be disqualified.
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The representatives of the entities selected must be over 18 years of age by June 8, 2019, and must be residents of one of the 48 IDB member countries, with a local partner for the prototype if he or she is not a resident of one of those countries. Businesses that have participated before in a Demand Solutions event are eligible.
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EVALUATION CRITERIA
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Proposals will be evaluated based on the following criteria:
- Use of disruptive technologies (15%).
- Innovation of the model (15%).
- Potential for scalability (20%).
- Financial sustainability for the next 3-5 years (20%).
- Capacity of the applicant organization and strategic partners (10%).
- Viability of execution, and risks (5%).
- Results and impact (15%).
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SELECTION PROCESS
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The selection process will have the following phases. The IDB reserves the right to modify this process by modifying, adding, or eliminating phases.
Phase I
After completing the application on the online platform, an IDB Group technical team will review, analyze, and pre-select proposals.
Phase II
Those proposals that are pre-selected will be analyzed by a panel of judges consisting of subject matter experts and an IDB Group technical team. If necessary, the panel of judges will interview the pre-selected entities.
Phase III
IDB Lab will select proposals according to the evaluation criteria. Once they have reached agreement on how to implement the model, a technical team from IDB Lab will offer support to the entities selected to initiate the design of the model (which includes developing a project plan and other documents necessary to request official internal approval of the IDB). This process may last up to six months, depending on the maturity of the model and the implementation capacity of the entities selected, among other factors. Please note that final approval is subject to the internal procedures of the IDB, with the understanding that for a project to be selected to receive IDB funds, it must have been approved by all those directly involved in the IDB and IDB Lab approval process.
Likewise, and subject to obtaining all the requisite authorizations and approvals, including, but not limited to, internal approvals from the IDB Lab and the IDB, the entities selected must sign a legal agreement that sets forth how the financial resources of the IDB Lab and the counterpart resources will be used to implement the model.
Applicants can present their proposals under “Grant” or “Innovation Prototype”:
-
Grant (nonreimbursable financing)
-
This type of financing is offered generally to NGOs, nonprofit organizations, or companies that implement innovative models with limited earning potential but with clear benefits in terms of inclusion and employment and business opportunities.
-
Range: US$150,000 – US$500,000
-
Counterpart funds: 50% of the total budget, half in cash and half in kind (applicant organization 50% = 25% cash and 25% in kind)
-
Expenses that cannot be funded with this mechanism: Purchase of land, construction of infrastructure, and in the case of equipment purchase, software or other products, software or other products, as long as they do not use more than between 10 and 25% of the financing from IDB Lab. IDB Lab does not cover overhead, and there are some restrictions on financing administrative costs.
-
Implementation period: Between 12 and 36 months, depending on the case.
-
Documents: Present two letters of recommendation, one from an outside collaborator or client who can vouch for the work, and another from an organization or institution that knows the work that has been done and its achievements. The letters of recommendation cannot be submitted by family members or founding or co-founding members of the applicant organization. (Diplomas, invitations to events, or letters of recommendation for other contests will not be accepted.)
-
Pitch: Present a video pitch of a maximum length of 2 minutes, explaining the model (the development problem that it addresses, and the innovative solution proposed, as well as the composition of the implementation team). The video link must not be protected. If the video cannot be seen, the application will be disqualified.
-
The representatives of the selected entities must be over 18 years of age by June 8, 2019, and must be residents of one of the 48 IDB member countries, with a local partner for the prototype if he or she is not a resident of one of those countries. Entities that have participated previously in a Demand Solutions event are eligible.
-
Innovation Prototype (nonreimbursable resources)
-
This type of financing will be granted to businesses with high impact, entities with innovations based on disruptive technologies, and new business models. The model of a prototype must be replicable or scalable as long as it is innovative in the local market where it will be implemented. Nonreimbursable financing is offered generally to NGOs, nonprofit organizations, or companies/startups that implement innovative models with limited ability to generate income but that have clear benefits in terms of inclusion and generation of business and employment opportunities.
-
Range: A maximum of US$150,000 to develop and test the prototype.
-
Counterpart resources: 20% of the total budget, half in cash and half in kind (applicant organization 20% = 10% cash + 10% in kind).
-
Allowable expenses under this modality: Capital expenditures (such as equipment, software, and other products), as well as working capital.
-
Expenses that won’t be financed: IDB Lab does not cover overhead and there are restrictions on financing administrative costs.
-
Implementation period: Maximum of 18 months.
-
Documents: Present two letters of recommendation: one from an outside collaborator or client, who can vouch for the work and another one from an organization or institution that knows the work that has been done and its achievements. The letters of recommendation cannot be from family members or founding or cofounding members of the applicant organization. (Diplomas, invitations to events, or letters of recommendation for other contests will not be accepted.)
-
Pitch: Present a video pitch of a maximum length of 2 minutes, explaining the model (the development problem that it addresses, and the innovative solution proposed, as well as the composition of the implementation team). The video link must not be protected. If the video cannot be seen, the application will be disqualified.
-
The representatives of the entities selected must be over 18 years of age by June 8, 2019, and must be residents of one of the 48 IDB member countries, with a local partner for the prototype if he or she is not a resident of one of those countries. Businesses that have participated before in a Demand Solutions event are eligible.
Proposals will be evaluated based on the following criteria:
- Use of disruptive technologies (15%).
- Innovation of the model (15%).
- Potential for scalability (20%).
- Financial sustainability for the next 3-5 years (20%).
- Capacity of the applicant organization and strategic partners (10%).
- Viability of execution, and risks (5%).
- Results and impact (15%).
The selection process will have the following phases. The IDB reserves the right to modify this process by modifying, adding, or eliminating phases.
Phase I
After completing the application on the online platform, an IDB Group technical team will review, analyze, and pre-select proposals.
Phase II
Those proposals that are pre-selected will be analyzed by a panel of judges consisting of subject matter experts and an IDB Group technical team. If necessary, the panel of judges will interview the pre-selected entities.
Phase III
IDB Lab will select proposals according to the evaluation criteria. Once they have reached agreement on how to implement the model, a technical team from IDB Lab will offer support to the entities selected to initiate the design of the model (which includes developing a project plan and other documents necessary to request official internal approval of the IDB). This process may last up to six months, depending on the maturity of the model and the implementation capacity of the entities selected, among other factors. Please note that final approval is subject to the internal procedures of the IDB, with the understanding that for a project to be selected to receive IDB funds, it must have been approved by all those directly involved in the IDB and IDB Lab approval process.
Likewise, and subject to obtaining all the requisite authorizations and approvals, including, but not limited to, internal approvals from the IDB Lab and the IDB, the entities selected must sign a legal agreement that sets forth how the financial resources of the IDB Lab and the counterpart resources will be used to implement the model.
Closed August 1, 2019
