FOR TECH FANS
Open until April 10th, 2019
“Ready-to-Work Bootcamps” are a new, low-cost alternative to traditional university education programs aimed at people with no previous experience in coding and IT skills who want to gain these highly demanded skills at an accelerated and intense pace in a short period to make them immediately employable in high-demand jobs in Latin America and the Caribbean (LAC).
The Inter-American Development Bank (IDB), through the Multilateral Investment Fund (IDB Lab), is looking for the best proposals to implement innovative Ready-to-Work Bootcamp models that benefit vulnerable or harder-to-reach populations due to geography, poverty or other forms of exclusion, such as youth at-risk of social exclusion, indigenous groups, people with disabilities, women, among others, and have the potential for replication and scaling up.
Proposals will be chosen in two different categories:
- Mature Bootcamp models, with at least a two-year track record of results in terms of job placement rates, salaries of graduated students and strong ties to industry needs, among others, that are ready to scale and reach thousands of people.
- Incipient Bootcamp models, with a minimum operating track record of one year, and targeting vulnerable or harder-to-reach populations.
Qualifying entities will be considered by IDB Lab to implement a development project to pilot mature or incipient Bootcamp models. The funding requests will not exceed US$1.5 million, and the type of financing (grant, loans or other type of reimbursable financing) will be determined after the selection of the best proposals. Note that the proponent entity should contribute or be able to demonstrate access to funds for the other 50% of the project budget. For details see guidelines.
WHO CAN PARTICIPATE
Entities legally registered in one of the 26 borrowing member countries of the IDB in Latin America and the Caribbean, as well as organizations outside of the Latin American and the Caribbean region that have an implementing partner legally registered in one of the 26 IDB borrowing member countries are invited to participle in the challenge. Entities eligible to participate include social enterprises, NGOs, non-profits, academic, educational and training institutions (public and private), and private firms offering Ready-to-Work Bootcamps as described above.
* Dates are approximate and subject to revision.
January 28, 2019
January 28 – April 10, 2019
Final submission deadline:
April 10, 2019 (11:59pm EST)
Review by IDB Group team to create short list:
April 24, 2019
Review of short list by jury panel:
May 8, 2019
Expected announcement of two selected proposals:
Requirement 1: Proponent entities should be legally registered in one of the 26 borrowing member countries of the IDB in Latin America and Caribbean. Organizations outside of the Latin American and the Caribbean region that have an implementing partner legally registered in one of the 26 IDB borrowing member countries are also invited to participle in the challenge.
Requirement 2: For the Mature Bootcamp model category, proponent entities need to demonstrate a two-year track record of results and evidence that students have entered the labor market, are earning good salaries and have strong industry ties. For the Incipient Bootcamp category, proponent entities need to demonstrate a minimum operating track-record of one year working with vulnerable or harder-to-reach populations.
Requirement 3: Proponent entities should be financially stable with steady sources of funding or income derived from training activities or other donors/sponsors.
Requirement 4: Proponent entity should provide written proof of counterpart resources to implement their model (IDB would provide matching funding, approximately 50% of the proposed project budget).
Requirement 5: Proponent entity should provide documents certifying its legal constitution/incorporation.
The proposals will be evaluated according to the following criteria and approximate weight of consideration. See guidelines for more details:
- Learning and employment outcomes (15%)
- Targeting of vulnerable populations (15%)
- Innovation of the model (15%)
- Use of disruptive technologies (15%)
- Scalability potential (15%)
- Financial sustainability for the next 3-5 years (10%)
- Capacity of proponent entity and strategic partners (10%)
- Viability of execution, and risks (5%)
NOTE: If the proponent entity lacks the technical capacity to implement the project or its integrity risk is high, it will be disqualified.
After completing your application in the online platform, the IDB Group will review, analyze and shortlist the proposals.
The short-list will then be reviewed by a panel of judges made up of outside experts such as Globant, Accenture and the International Telecommunication Union, as well as IDB Group specialists. The panel of judges will interview the panelists if needed.
IDB Lab leadership will announce the two best proposals (1 for each category), considering the evaluation criteria. A project team from IDB Lab will provide support to the selected entities to initiate project design (develop the project plan and related documents to be submitted for IDB’s approval process). This process can take up to six months, depending on the maturity of the project concept, and the agility of the selected entities, among other factors, and final approval is subject to IDB’s internal procedures.