FREQUENTLY ASKED QUESTIONS

1.   How do you define ocean and blue economy?
A working definition of the “blue economy” refers to the generation of economic wealth (national and local) through new innovative ocean-dependent activities that take advantage of ocean resources.
   
2.   What technologies will be considered?
Marine biotechnology, ocean renewable energy, marine R&D, advanced materials, subsea engineering and technology, sensors and imaging, satellite technologies, computerization and big data analytics, robotics, nano-technology, etc.  

3.   Who can participate?
Entities legally registered in one of the 48 member countries of the Inter-American Development Bank, as well as in those Compete Caribbean beneficiary countries, which are non-IDB members, (i.e., Antigua and Barbuda, Dominica, Grenada, St. Lucia, St. Kitts and Nevis, and St. Vincent and the Grenadines).
Entities can range from innovators, entrepreneurs, NGOs, businesses, academic institutions, research institutions, social enterprises, public innovation agencies, and similar entities who seek to pilot and scale commercial models rooted in cutting-edge technologies to contribute to the sustainable management of oceans and coastal resources (or marine ecosystems) as the basis for livelihoods, food security, and economic development of the Caribbean region.

4.   If my organization is registered in two countries, one which is member and a non-member can we participate?
Your organization should be located in one of IDB’s 48 member-countries  or in those Compete Caribbean beneficiary countries, which are non-IDB members, (i.e., Antigua and Barbuda, Dominica, Grenada, St. Lucia, St. Kitts and Nevis, and St. Vincent and the Grenadines). If it is not located in one of the 14 target countries, it should present the proposal in partnership with an entity located and legally registered in one of the 14 target countries in the Caribbean region:  Bahamas, Barbados,Belize, Guyana, Haiti, Jamaica, Suriname, Trinidad and Tobago, Antigua and Barbuda, Dominica, Grenada, St. Lucia, St. Kitts and Nevis, and St. Vincent and the Grenadines.   

5.  If my organization is registered in one of the 14 target countries, do I need to apply jointly with an entity located outside the region?
No, that restriction is only for organizations not located in one of the 14 target countries.  

6.  Will IDB fund the complete project if my model/solution is selected?  
IDB will fund approximately 50% of total project budget; therefore, applicants must be prepared to:
a)      contribute with approximately 50% of the funds to pilot, replicate or scale up the blue economy model.  This contribution or “counterpart” could be half in cash and half in in-kind resources. Proof of these resources will be required upon applying; and,
b)     cover over head fees, as these may not be financed by the IDB contribution (MIF funds have a 15% cap for administrative costs, and Compete Caribbean will not fund administrative costs - these should be absorbed by the firm of proposing entity.)

7.  If I have questions related to my submission, who can I contact?
Note that only questions related to technical issues will be answered.  You can e-mail your questions to:  BlueTech-Challenge@iadb.org before the final submission deadline.  This mail box will be open until the final submission date (November 30, 2018 -6pm in Washington D.C.).

8.  Can I send the application in a language other than English?
The language for this particular challenge is English. Only the eligibility documents (proof of legal registration, by laws, and audit report) can be submitted in Portuguese, French, English or Spanish. 

9.   How do I submit my application?
The application must be completed and submitted online by 6pm in Washington D.C. on November 30, 2018, please visit Guidelines for more information.

10.  What information do I need to complete when applying online?

Click here to view the information required, but remember to APPLY ONLINE.

11.   Can I include attachments in support of my application?
The following documents must be uploaded:  

a)   Copy of organization’s proof of legal constitution and incorporation under the laws of the member country of the IDB where the project is to be implemented. This must be a legal document establishing the entity and authorized by the government.
NOTE: Foreign/international organizations must have a legal representation complying with all local requirements, domiciled and legally operating in the country where the project is to be implemented. Organizations with temporary authorizations/licenses to operate in the country will not accepted.
b)    Written proof of counterpart resources to implement the model (letter of commitment)
c)     If you applied for a LOAN:  latest annual external audited financial statements of the organization.
Documentation can be submitted in ENGLISH only and in PDF format.  The IDB shall not be responsible if not able to open uploaded files.

12.  Can other organizations support my counterpart financing requirements?
Yes. Applying organizations can demonstrate resources from a variety of sources including both national and international government agencies, NGOs, foundations and bilateral and multilateral entities.

13.   When will I know the outcome of my application?
Applicants in the short-list will be contacted during December 2018.  Selected proposals will be notified in January 2019.

14.   Will I receive feedback on the content of my proposal after selected proposals are selected?
After proposals are selected, the IDB does not provide individual feedback or comments on proposals.

15.  If my organization has received funding from the IDB, MIF or Compete Caribbean in the past, can I still apply?
Yes, however MIF and Compete Caribbean do not finance continuation projects, but rather the project idea must be totally new, with different objectives, and new counterpart resources. Also, to apply for funding again, the prior project must demonstrate positive results.

16.   Are there any examples of the types of projects and technologies that will be considered?
You can refer to the following publication for a description of some of the varietyof technologies that may be considered: https://read.oecd-ilibrary.org/economics/the-ocean-economy-in-2030_9789264251724-en#page141 (pages 73-74 and chapter 4, pages 121-140)