IPSD is a Palestinian Ministry of National Economy (MoNE) Project, and F4J is a Palestinian Ministry of Finance (MoF) Project, both funded by the World Bank and implemented by DAI.
Both projects aim at improving economic opportunities for individuals and firms in the West Bank and Gaza. It also falls under the World Bank’s overarching objective to alleviate market failures related to gaps and binding constraints in the entrepreneurship ecosystem of the digital economy including in human capital, financing, product markets, enabling policies, institutional support, and connectivity.
In response to the COVID-19 pandemic and subsequent business dislocation that it has caused both locally and globally, IPSD and F4J launched a support program to address the need to provide financial and technical assistance to affected startups, early-stage enterprises and SMEs.
Therefore, to ensure broad outreach and impact within the local entrepreneurial ecosystem, both projects welcome Palestinian startups, early-stage enterprises and SMEs that: (a) possess an innovation-driven business model; (b) is a technology-enabled business; and/or (c) has a technology-based product; regardless of their sector to apply for its COVID-19 Rapid Response Program.
The program will support selected businesses (number of full-time employees must be less than 30, and annual revenues for previous years not exceeding USD 1,500,000) through financial and non-financial technical assistance.
Financial Assistance: Up to USD 24,000 in grants for cost sharing of eligible activities; and
Non-financial Assistance: Training and coaching programs on re-tailoring your business for a COVID-19 affected world (selected topics related to Adaptation, Mitigation and Opportunity)
Period of Performance: 3 months from grant approval and signature.
Eligibility: In addition to the above, applicants must meet the following requirements:
Be a commercial entity legally registered in and/or principally operating out of the West Bank or Gaza and have been operational for at least 6 months prior to May 15th, 2020. Unregistered startups or early-stage enterprises that demonstrate a true intent to register within one month will be considered;
Management team (founders, directors and employees) must pass personal and business fiduciary background checks;
Applicants asking for funding should able to present clear and credible plans for recovery post COVID-19 and root cause verified to show clear legitimacy for their application; and
Complete application in its entirety, in addition to submitting/attaching all required information and documents requested and/or recommended.
Applications are available online on: www.ipsd.ps/C19RP
Please submit by email to: [email protected]
Applications shall be received no later than Tuesday, 23. June.2020. Late or incomplete applications will not be accepted.