Islamic Research and Training Institute (IRTI): Smart Economy Grants Program
The Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IsDB) Group has launched the Smart Economy Grants Program for projects involving the application of emerging technologies to spur knowledge-driven economic transformation.
This Program aims at knowledge-driven economic transformation and involves an initial grant that is expected to act as a catalyst, signal new funding opportunities and empower innovation and development. This will support smart, sustainable and inclusive growth fueled by knowledge intensive activities.
The SEL has the following specific aims:
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To undertake diagnostic studies in specific sectors of the economy – agriculture, healthcare and sanitation, education and skills, financial services etc. – and identify areas with patentable efficiency-enhancing solutions;
To develop products and solutions for the smart economy through application of block-chain and other cutting-edge technologies;
To seek patents to ensure legal protection of innovations;
To act as a catalyst for pilot and proof-of-concept projects around the solutions;
To act as incubator for start-up projects by students/ entrepreneurs in areas that have seen successful proof-of-concept outcomes;
To build capacities for scientific research related to smart economy.
Smart Economy grants of up to USD10,000 (US Dollars Ten Thousand) each will be provided.
The SEL action plan has three major components:
Knowledge-based solutions in a smart economy, specifically to meet development challenges in the region;
Capacity building of stakeholders; and
Formulating country masterplans for the Smart Economy ecosystem, including innovation, entrepreneurship, incubators, etc.
You must be an adult, at least 18 years old and legally able to enter into an agreement.
You shall not apply under this Program if there are legal restrictions in your country of residence or domicile for entering into an agreement with its terms and conditions or receiving a Grant. It is your sole responsibility to ensure that your participation in the Program is not prohibited by any applicable law, regulation or rule in your country of residence or domicile.
You will, subject to all AML/CFT requirements, be awarded a cash Grant, the quantum and terms of which shall be determined by IRTI. Applicants are required to provide further personal information, including bank account information of an approved bank to be eligible to receive a cash Grant. Applicants shall be responsible for bearing all costs, bank fees and taxes in connection with the receipt of any cash Grant.
IRTI may require you to furnish such documents and personal information so as to prove your identity, status and/or eligibility for the Program. IRTI reserves the right to reject your application or eligibility for a Grant if you are unable to furnish such documents or information to IRTI’s satisfaction.
IRTI shall have the unfettered right to disqualify any application, change the nature of any Grant and/or require the termination or refund of any Grant to IRTI if an applicant does not comply with the terms and conditions, in the event of any illegality or if mandatory compliance with any applicable law is required.
Employees of the IsDB Group are not eligible to apply for the Program.
For more information, visit https://irti.org/smart-economy-lab/