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Overview

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Services of a financial institution to manage and administer innovation challenge funds, and support innovators affiliated with the Sierra Leone University Innovation Pod (Unipod)                           

Deadline: 29th  August 2024

The University Innovation Pods (UniPod) Project is part of the new UNDP Africa Timbuktoo Initiative involving 13 countries (Sierra Leone, Mali, South Sudan, Malawi, Rwanda, Uganda, Mauritania, Togo, Liberia, Lesotho, Guinea, Zambia and Benin). Timbuktoo initiative is a new development model bridging the gap between research and development on the one hand, and product creation on the other, to ensure that Africa’s youth are the catalysts sparking the continent’s industrial drive. The UniPod Project is multi-pronged and focuses on supporting and growing innovative, scalable, and impactful entrepreneurship by African young people, while relying on a springboard of partners who together contribute meaningfully to building an African youth innovation and start-up ecosystem.

In Sierra Leone, the main UniPod  facility is being established in collaboration with the University of Sierra Leone and hosted at the Fourah Bay College. In addition, there are Fabrication Labs at four public universities (University of Makeni, Ernest Bai Koroma University, Eastern University, and Njala University) that will feed into the main UniPod a, University of Sierra Leone.

One of the UniPod interventions is to identify and scale-up green energy innovative solutions tailored to support women and youth entrepreneurs. This will entail investment grants, technical assistance, and incubation through UniPod to scale up the selected solutions, focusing on affordability, sustainability, and community empowerment. In view of the above, UNDP is seeking to engage a financial institution to manage and administer innovation funds, and support the innovators affiliated with the Sierra Leone UniPod.

Who Is Eligible to Apply?

The following are the required qualifications of the prospective financial institution:

1. Experience and Expertise
   • Proven experience of at least 10 years in fund management, especially in the context of innovation and entrepreneurship.
   • Demonstrated ability to provide financial advisory services and support to startups and innovators.
   • Experience in working with international organizations and compliance with international financial standards.
2. Financial Capacity
   • Strong financial health and stability.
   • Should have adequate infrastructure and systems to manage and disburse funds efficiently to the startups and innovators .
3. Risk Management and Compliance
   • Robust risk management framework and internal controls.
   • Compliance with national and international financial regulations.
4. Reputation and References
   • Positive reputation in the financial sector.
   • References from previous clients, especially in the context of fund management and support to innovation initiatives.

How to Apply 

Interested financial institution are required to submit the following documents:

1. A technical proposal detailing their approach to fund management, disbursement, and financial support services in line with the Terms of References.
2. Company profile and experience in similar projects.
3. Financial health statements and capacity to manage the innovation fund.
4. Risk management and compliance frameworks.
5. References and contact details of previous clients.

Submissions should be made electronically in one file (pdf format) signed and scanned to the following email: procure.sle@undp.org. One submission per financial institution is allowable for this call. Once the application is complete and submitted, revised versions of proposal documents will not be accepted.

The deadline for applications is 5:00pm on Thursday, 29th August 2024. Applications received after the deadline will not be considered.

Any request for clarification must be sent in writing via messaging functionality in the portal or to vendors.sle@undp.org . UNDP will respond in writing including an explanation of the query without identifying the source of inquiry.

INTERESTED FIRMS SHOULD DOWNLOAD APPLICATION DOCUMENTS AND ADDITIONAL DETAILS FROM LINK: https://procurement-notices.undp.org/