Request for Application (RFA) - Developmental Component (GRANT) at the Central Bank of Nigeria (CBN)

Posted by Future on Wed 17th Nov, 2021 - nigeriantenders.com

The Central Bank of Nigeria (CBN) invites interested Nigerian Polytechnics and Universities to tender RFA documents for the following works:

The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on July 1, 1959.

Applications are invited for:

Title: Call for Application - Developmental Component (GRANT) Under the Tertiary Entrepreneurship Scheme (TIES)

Preamble

The Tertiary Institutions Entrepreneurship Scheme (TIES) is an initiative of the Central Bank of Nigeria (CBN) aimed at addressing the rising youth unemployment and underemployment by creating a paradigm shift among undergraduates and graduates from the pursuit of white collar jobs to a culture of job creation, economic growth and sustainable development.

The Central Bank of Nigeria is now accepting proposals from Nigerian Polytechnics and Universities under the Developmental Component of its Tertiary Institutions Entrepreneurship Scheme (TIES). The Scheme is designed to raise awareness and visibility of high-impact entrepreneurial/technological ideas among undergraduates and support the development of innovations that are commercially viable and with transformational impact.

This Component of TIES shall be disbursed in the form of grants to Nigerian Polytechnics and Universities that emerge as top five finalists in a national entrepreneurship competition.

Scope of Activities

Proposals will be accepted under the following four (4) verticals:

Agribusiness
Creative Industry
Science & Technology
Information & Communication Technology

Eligibility

Only Nigerian Federal, Private and State Polytechnics and Universities are eligible to participate under the Scheme by submitting an expression of interest (EOI) to the Director, Development Finance, Central Bank of Nigeria, Corporate Headquarters, Abuja.
The EOI should provide detailed name, email address and telephone number of the Registrar as the official representative of the institution for the application process.
Each institution shall be eligible to submit a maximum of two (2) proposals in any of the categories of their choice.

Note

The Body of Experts (BOE) constituted from the private and public sector shall evaluate submitted proposals through engagements that showcase undergraduates competing by pitching the project ideas, first at the regional levels, with the top three (3) finalists proceeding to the national event.
Final top five (5) entrepreneurial and technological ideas/innovations at the national level shall be awarded the grant on the recommendation of the BoE.

Grant Award Categories

The Grant shall be awarded to the final top five (5) entrepreneurial and technological ideas/innovations as follows:

First place: N250.0 million
Second place: N 200.0 million
Third place: N 180.0 million
Fourth place: N 150.0 million
Fifth place: N 120.0 million

Every Polytechnic and or University awarded the grant shall be required to provide a robust case to show value for money for the grant-winning entrepreneurial and technological ideas/innovations and also submit periodic progress reports on the project implementation status to the CBN.

Selection Criteria

All proposals submitted shall be evaluated by the BoE based on commercial viability and transformational impact of the ideas or projects on selected key socioeconomic areas. All proposals will, therefore, be assessed based on the following parameters, amongst others:

Key Areas	Parameters	Indicators
Creativity	Unique approach to solution	Concept Big picture behind idea Approach to social problem identification and solution development Originality
Social impact	Transformational potential of the project	Job creation potential Social sustainability Contribution to the achievement of the Sustainable Development Goals (SDGs) Social engagement with broader community Community benefits
Sustainability	Environmental sustainability and impact	Market alternatives or substitutes Financial sustainability Supply chain linkages (access to secure resources channel) Competitive or sustainability advantage Environmental friendliness

Application Closing Date

31st December, 2021.

Submission of Documents

The Registrar shall submit application, with relevant documentation, through the dedicated portal: www.grant-cbnties.com.ng

Note

The CBN reserves the right to decline any proposal that does not meet the stipulated requirements.

For further information on the guidelines and other enquiries, please visit www.cbn.gov.ng