How can innovators and entrepreneurs create economic and social prosperity in Bangladesh?

Challenge Overview

Economic and social prosperity rests upon the ability of communities to create healthy and productive lives for themselves. Over the last decade, vast improvements in health, education, infant mortality, and life expectancy in Bangladesh have driven remarkable progress for its people and economy. With an average economic growth of over 6 percent per year, per capita income rising almost threefold, and the rate of extreme poverty cut by more than half, Bangladesh has transformed from one of the poorest regions in South Asia to one of the fastest growing economies in the world.

Though Bangladesh has made impressive strides, there is still widespread poverty, with new challenges emerging such as rising levels of youth unemployment and increasing exposure to environmental health risks as the country urbanizes. Rapid mass migration to cities in Bangladesh has strained its infrastructure for health, transportation, and waste management, while simultaneously depleting rural communities of traditional labor and prosperity. About 24 million Bangladeshis still live below the international poverty line of $1.90 per person per day, and one in ten of the country’s 44 million youth are unemployed. Further, the country’s large and shifting population overtaxes its land and water resources, resulting in pollution, resource depletion, and food insecurity, as well as limits its capacity to provide adequate health services, with a current estimated ratio of only one registered physician per 1,847 people.

As Bangladesh transitions from a low to middle-income economy, boosting entrepreneurship and innovation and creating better and more inclusive jobs are critical to maintaining its growth trajectory. The Tiger Challenge aims to find and support startups that will provide quality education, healthcare, and employment opportunities, and promote Bangladesh as a country that fosters innovation. To do so, the Tiger IT Foundation is seeking applications from innovators all around the world who have an existing business, tested prototype or pilot that will:

• Accelerate economic growth and create high-paying jobs across geographies and demographics in Bangladesh, especially among marginalized populations and youth;

• Provide equitable and cost-effective access to services such as healthcare, education, and skills training to enable Bangladeshi society to adapt and thrive in an environment of changing technology and demands;

• Reduce economic vulnerability and lower barriers to global participation and inclusion, including expanding access to information, internet, and digital literacy; and

• Support economic development and food security in rural Bangladesh through sustainable agricultural methods that are resource-efficient, low/zero carbon, and do not contribute to regional pollution.

Up to USD $2 million in investment funding is available for selected winners of the Tiger Challenge, including a total USD $1.5 million for international winners. 

FAQs

Who can apply to the Tiger Challenge?

The Tiger Challenge is open to:

• Any Bangladesh-based applicants
• Any international applicants who have entered or intend to enter the Bangladeshi market

Applicants can be individual students, entrepreneurs, teams, or established start-ups. International applicants need to have a tested prototype or established organization to be eligible to submit to the Tiger Challenge. If you have a relevant solution, we hope you’ll apply!

How are we CrowdSolving the Tiger Challenge?

1. SOURCING SOLUTIONS Anyone who meets the criteria above can participate in the Tiger Challenge and submit a solution. Whether you’re running a pilot in Bangladesh or working towards scaling your proven business model to Bangladesh, we’re looking for innovators and entrepreneurs with the best ideas.
2. SELECTING SOLUTIONS Once the submission deadlines pass, judging begins. After an initial screening by Tiger IT and Solve staff, Tiger Challenge judges select the most promising solutions as Finalists. These Finalists will be invited to pitch their solutions live at a Tiger Challenge Pitch Event, where judges will select the winners.

What type of solutions will be accepted to the Tiger Challenge?

Solution applications must be written in English. The Tiger Challenge considers solutions at various stages of development.

Please note: the Tiger Challenge will only accept idea-stage solutions from Bangladesh-based applicants. International applicants need to have at least a tested prototype to be eligible.

• Concept: An idea being explored for its feasibility to build a product, service, or business model based on that idea. [Please note: only Bangladesh-based applicants are eligible to submit solutions at this stage of development]
• Prototype: A venture building and testing its product, service, or business model. Typically described as "Pre-Seed" if For-Profit.
• Pilot: An enterprise deploying a tested product, service, or business model in at least one community. Hybrids and For-Profits would typically be in a "Seed" round and starting to generate revenue (whether or not they are cash flow positive).
• Growth: An enterprise with an established product, service, or business model rolled out, which is poised for further growth in multiple communities or countries. Organizations at this stage should have a clear path towards financial sustainability whether they are nonprofit or for-profit. For-Profits at this stage would be "Seed" or "Series A.”
• Scale: A sustainable enterprise working in several communities or countries and that is looking to scale significantly, focusing on increased efficiency. For-Profits in this stage would be "Series A" or "Series B."

The most important thing is that your solution addresses the focus of the Tiger Challenge.

Through open innovation, the Tiger Challenge is looking for a diverse portfolio of solutions across stages of development and team members’ gender and background. We believe that there is no one solution the world’s most complex challenges—and encourage people of all backgrounds to submit their applications.

How will my solution be evaluated?

The judging committee for the Tiger Challenge will be comprised of experts and leaders from across industries. After an initial screening by Tiger IT and Solve staff, the judges will score the screened solutions based on the following criteria:

• Alignment: The solution addresses the challenge that has been set forth.
• Potential for Impact: The planned solution implementation has the potential to impact lives and drive economic growth in Bangladesh.
• Scalability:  The solution can be scaled to affect the lives of more people.
• Feasibility: Solution implementation is feasible, and the team has a plan for financial sustainability.
• Innovative Approach: This is a new solution, a new application of a solution, a new business model, or a new process for solving the challenge, and the team clearly identifies its competitive advantages (e.g. intellectual property)
• Team Capability: The team is well prepared to develop the solution and have demonstrated it has the necessary skills to expand the solution to Bangladesh. [Please note: this judging criterion will only be used for international applications]

Selected finalists will pitch before the Tiger Challenge judges and a live audience during a pitch event in Dhaka. The judges will determine which solutions are the most promising and those selected will receive prize funding and support from the Tiger IT Foundation.

Tiger Challenge Timeline

• July 2, 2019 - Tiger Challenge opens
• September 8, 2019 - Deadline for Bangladesh-based applicants to submit a solution
• September 2019 - Bangladesh-based finalists announced
• October 13-14, 2019 - Pitch event for Bangladesh-based finalists in Dhaka
• October 18, 2019 - Deadline for international applicants to submit a solution
• November 2019 - International finalists announced
• December 10-11, 2019 - Pitch event for international finalists in Dhaka

What can I win if my solution is selected?

Finalists will be invited to a pitch event in Dhaka to present their solutions in front of distinguished judges. Up to USD $2 million in grant and investment funding is available for selected winners of the Tiger Challenge, including a total USD $200,000 for Bangladesh-based winners and a total USD $1.5 million for international winners. A minimum of fifty percent of funding received must be spent in Bangladesh.

In addition to the funding, the Tiger IT Foundation will be providing selected winners of the Tiger Challenge with strategic and operational support from a network of seasoned professionals and entrepreneurs in Bangladesh, including mentorship, office space, support with IP efforts, and more.

Please note: Bangladesh-based winners will automatically be considered finalists for the international portion of the Tiger Challenge. 

Further questions? Please reach out to: challenge@tigeritfoundation.org