Hosted by:
UNDP & Slovak Ministry of Finance

Innovation Challenge Fund

Submission deadline:
September 30, 2020

Overview

The Covi​d-19 will have a long-term impact on the future of economy, work, governance, and health. We are looking for innovative solutions that will reimagine these to help us recover from the pandemic and prepare for the future. The Innovation Challenge, hosted by UNDP and the Slovak Ministry of Finance, is accepting solutions to the effects of the pandemic in the following issue areas: new digital services and voice, low touch economies, wellbeing.

The BOOST acceleration program will support the implementation and scaling of these solutions across the Europe and Central Asia region. 15 applicants will be selected to join the BOOST acceleration program and up to five will be selected for funding. Winners will receive up to $15,000 to prototype and implement solutions. Solutions should be applied in more than one country and enhance regional collaboration in addressing the crisis.

Eligibility Criteria

  • The applicant must be a registered entity in Europe and Central Asia, or in a consortium with an entity in the region.
  • The project must be implemented in the Europe and Central Asia region.
  • The project must have a regional dimension.

Selection Criteria

  • Scalability​: Solutions that arescalable across countries.
  • Viability​: Where necessary, the applicant is required to engage partners to ensure viability in the local context.
  • Management: ​The applicant must demonstrate it has an adequate team in place and will have the capacity to implement the solution in 3–6 months
  • Potential for impact​: Solutions that can improve the livelihoods of the most vulnerable groups.
  • Innovation​: Solutions that use cutting-edge technologies, social and digital innovation tools and that transform current business models with digitalization
  • Effectiveness: Solutions that demonstrate how they will tackle one of the issues areas impacted by Covid-19.

Timeline

27 July:
Open Call
30 September:
Submission Deadline
October:
Participants Announcement
October - December 2020:
BOOST Program Delivery
January 2021:
Winners Announcement

Who can apply

Icon
Type of applicant:
Academic institutions, Private sector (including social enterprises)
Icon
List of eligible countries:
Europe and Central Asia

Issues

ISSUE #1
Low touch economy


ISSUE #2
New Digital Services & Voice


ISSUE #3
Wellbeing

The BOOST acceleration program will be conducted through an online-based platform which will encourage experience sharing and collaboration between teams. Each of the online sessions will be led by experienced industry experts. Mentorship and guidance will continue following the end of the training program. The solutions will be supported by our established UNDP and innovation partnership network to ensure their scalability and transformative nature.

Apply today for the
Innovation Fund Challenge
Join our program

About the Ministry of Finance of Slovakia

The Innovation Challenge is funded by the Transformative Governance and Finance Facility (TGFF), a joint undertaking by UNDP and the Ministry of Finance of Slovakia. TGFF supports the region to harness the potential of the data revolution, new technologies and other innovations for improved governance and sustainable development. This will be achieved through engagement of citizens in new technologies and data, collaborative platforms on regional and national level, and the use of alternative finance.