|Transforming industries for better jobs in LAC|
The Fourth Industrial Revolution is here, and digital technologies are revolutionizing how industries operate and approach the global market. Latin America and the Caribbean are no exception to this trend, and the IDB is committed to supporting the development of these industries. Through its Regional Industry Skills Strategy Competitive Fund, the IDB offers an unparalleled opportunity for LAC industries to invest in their future and build the required skills to transform their industry in this rapidly changing landscape.
The IDB is inviting LAC industries to apply for funds to finance the design of customized training strategies, tailored to meet the specific needs of their industry in this digital age. With the support of the IDB, LAC industries will have access to the resources and expertise needed to stay ahead of the curve and remain competitive in the global marketplace.
|Why are we launching this call?|
We are launching this call for proposals to support the development of Latin American and Caribbean industries in the rapidly changing digital landscape. The Fourth Industrial Revolution has a profound impact on the way businesses operate and approach the global market. It is essential that industries in LAC have access to the resources and expertise they need to stay ahead of the curve.
Developing people with the right skills is crucial to deploying the right technologies and is vital to achieving inclusive growth. However, there is a lack of information in LAC on the impact that the adoption of new technologies is having on industries in the region. This, in turn, limits industries’ capacity to train new prospective employees and upskill or reskill their current workforce as they embark on their digital transformation journeys.
Through the Regional Industry Skills Strategy Competitive Fund, the IDB aims to provide LAC industries with the co-funding support they need to design and implement customized skills strategies that will help them build the talent they need to thrive & compete in this digital age. We believe that investing in the development of LAC industries is critical to the long-term success of the region.
|What are the awards for the selected proposals?|
Each proposal selected will be awarded non-reimbursable funds for its implementation. The limit for each proposal is US$60,000 to develop their strategies. Should they focus on green jobs as part of the industry strategy, they could opt to apply up to US$80,000.
The funds will be administered by the IDB to execute the agreed-upon activities.
|What are we looking for?|
We are looking for proposals from industries operating in the Latin American and Caribbean region that are seeking to invest in their future and build their skills in the context of the Fourth Industrial Revolution. These industries could be in any sector and at any stage of their digital and/or business transformation journey. A clear need for training and a commitment to building their skills in a rapidly changing landscape is expected.
Candidates should be motivated to take advantage of this opportunity to invest in their future and be willing to work with the IDB to design and implement customized skills development strategies that meet the specific needs of their industry (represented by a recognized industry association or cluster). Strong candidates will have a clear understanding of the impact that digital technologies are having on their industry and a collective vision to stay ahead of the curve and remain competitive in the global marketplace while promoting sustainability, green jobs, and gender equality.
By investing in their skills development process through this call for proposals, industries will not only be preparing themselves for the future, but they will also be contributing to a more sustainable, equitable, and inclusive transformation putting their workforce at the core.
|Who can submit a proposal?|
Private sector associations that represent their industry in a specific country. The applicant must comply with the following key requirements:
The group of companies represented by association/cluster must be based in LAC. Specifically IDB borrowing member countries.
The association/cluster must have a public website or annual end-of-years reports that validate:
- Track record or experience in their industry.
- Experience and presence in LAC region.
- Full- or significant-time dedication to the fund.
- A clear need for training and a commitment to building skills in the context of the Fourth Industrial Revolution.
- A clear understanding of the impact that digital technologies are having on their industry.
- A willingness to work with the IDB to design and implement customized training strategies that meet the specific needs of their organization.
- A commitment to promoting sustainability, green jobs, and gender equality.
- Demonstrated ability to effectively manage and utilize financial resources.
- A strong track record of delivering on previous projects and commitments.
- A commitment to transparency and accountability in their use of the funds.
- Presence of at least one female member in relevant committees of the association (e.g. Board, Investment Committee or Advisory Committee).
- Ability to provide regular progress reports and evaluations of the training strategies
- Compliance with all applicable laws, regulations, and ethical standards.
Gender and Diversity Focus
The association/cluster must demonstrate strong commitment or intentions to advance gender and diversity both at the fund manager and portfolio company levels.
|How to apply|
To apply please complete the online application available on this site by clicking Submit Proposal, within the deadlines. This call is receiving applications until May 31st, 2023 at 11:59pm EST.
|What is the selection process?|
Each proposal will be reviewed by a committee of professionals from IDB utilizing the above-outlined criteria. Winners will be announced on June 30, 2023.
|What are the evaluation criteria?|
The proposal should clearly demonstrate how the training strategies being proposed align with the needs of the industry in the context of the Fourth Industrial Revolution and how they will help the industry build the skills it needs to remain (or become) competitive in the global marketplace.
The proposal should demonstrate how the training strategies will have a tangible impact on the industry, including any potential benefits for sustainability, green jobs, and gender equality.
The proposal should demonstrate how the benefits of the training strategies will be sustained over the long term and how the industry will continue to build and improve its skills in the years to come.
The proposal should include a realistic and achievable plan for implementing the training strategies, taking into account the resources, personnel, and timeline required.
The proposal should demonstrate innovative thinking in the design of the training strategies, including any novel approaches or best practices being proposed.
For questions please e-mail to Gaston Ferrin at firstname.lastname@example.org
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