Deadline: 31 July 2019
The Inter-American Development Bank (IDB), through its innovation laboratory of the IDB Group (IDB Lab) and its Innovation and Creativity Division (ICD) through the DEMAND SOLUTIONS initiative has launched Orange Innovation Challenge to identify business models to boost the Orange Economy.
This is a knowledge-based economy, capable of generating employment and wealth, which promotes a socio economic impact. It will contribute to strengthening the creative entrepreneurship ecosystem, employment generation, and knowledge transfer in these countries and the rest of the region.
The challenge seeks to identify business models that use cutting-edge technologies to support their implementation in the 9 target countries: Belize, Costa Rica, El Salvador, Guatemala, Haiti, Honduras, Nicaragua, Panama and the Dominican Republic. These models must encompass the following characteristics:
- They introduce innovations to the defined subsector of creative and cultural industries;
- They use cutting-edge technologies;
- They show that they are financially sustainable;
- They have economic and social impact;
- They have a legal constitution registered in the target country. (Those entities located in other countries can only submit proposals if they do so together with an entity registered in one of the 9 target countries.)
What sub-sectors of the Orange Economy Are they looking for?
- Audiovisual, digital arts, animation, and video games;
- Multimedia applied to the publishing industry;
- Support services for digital content;
- Film and music industry;
- Fashion, design, tourism, cultural heritage, and gastronomy, as long as the solution is a technological one.
Prize Information
- The prize consists of the pre-selection of proposals that will be considered by IDB Lab to receive financing. The amount of the financing is from $ 150,000 to $ 500,000 depending on the categories in which it applies (grant or innovation prototypes). As part of the prize a representative of the pre-selected entities will be able to travel to FOROMIC to present the proposal.
Eligibility Criteria
- Proposals may be submitted by entities located in the 48 member countries of the IDB. These entities include innovators, entrepreneurs, startups, NGOs, companies, academic institutions, research institutions, social enterprises, public innovation agencies or similar entities with specialization and knowledge in the development of business models in the cultural and creative industries, based on technology.
- Entities located in other countries outside the nine target countries (Belize, Costa Rica, El Salvador, Guatemala, Haiti, Honduras, Nicaragua, Panama, and the Dominican Republic) can only present proposals jointly with an entity registered in one of the nine target countries.
- The IDB will evaluate the capacity of the applicant organizations to implement the proposed innovative models. The models will also be analyzed to obtain evidence of their viability.
How to Apply
Interested applicants can apply via given website.
For further information, please visit https://convocatorias.iadb.org/en/orangeinnovation