The Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IsDB) has launched a Smart Economy Grants Programme.
The initiative offers cash awards of up to $10,000 for projects involving the application of emerging technologies to spur knowledge-driven economic transformation.
The institute invited applications from researchers, professionals and entrepreneurs engaged in product development or projects involving the application of emerging technologies like artificial intelligence or blockchain for business and economy with Islamic Finance component.
The Acting Director General of IRTI, Dr. Sami Al-Suwailem, in a statement, said eight applicants will be selected and awarded up to $10,000 to implement their projects under IRTI’s Smart Economy Lab initiative.
Al-Suwailem said, “Through the Smart Economy Grants, IRTI aims to empower potential entrepreneurs to realize their dreams and contribute to the digital transformation of our societies.
“We look forward to receiving patentable ideas with significant entrepreneurial potential.”
He said applications for the grants are to be submitted online through the IRTI website by 30 October 2020, along with detailed information and supporting documents on the project.
He urged prospective applicants to check the IRTI website for details on the Smart Economy Grants, including eligibility, submission process and evaluation criteria.
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