Islamic Development Bank (IsDB) on Saturday organised 'Transformers Roadshow', a science, technology and innovation competition, for aspiring entrepreneurs of Bangladesh.
The contest is aimed at supporting Bangladesh find science and technology-based innovative solutions to achieve the sustainable development goals (SDGs).
The daylong roadshow was organised by the IsDB Group at a hotel in Dhaka's Kurmitola area.
A total of 130 individuals applied online to participate in the competition.
Twenty of them were selected to present innovative project ideas at the programme.
The roadshow acknowledged the crucial need to provide people with the tools to build a sustainable future.
It offered innovators a chance to win an investment fund of $3,000 to further develop their ideas.
IsDB Group president Dr Bandar MH Hajjar, science and technology minister Yeafesh Osman and senior adviser (science, technology and innovation) to IsDB chief Dr Hayat Sindi attended the opening session.
Speaking at the programme, Mr Hajjar said science, technology and innovation (STI) are continuously recognised as strategic drivers of economic growth.
"With the right tools and convenient environment, innovators and the business community can tap STI's potential to develop innovative solutions for development work," he added.
Citing Bangladesh as one of the largest beneficiaries of IsDB finances, Mr Hajjar said it has so far received $21.5 billion to improve people's lives.
The investments were made in the development initiatives covering agriculture, education, energy, transport, water and sanitation.
Mr Hajjar further said that the IsDB is committed to supporting Bangladesh in achieving the SDGs.
"I'm delighted to announce that tomorrow (Sunday) we'll open a new IsDB Regional Hub in Dhaka, so we can further our mission of empowering people, driving innovation and productive partnerships here."
The IsDB president said Bangladesh and the surrounding region have so much to offer with regards to the development of innovation and entrepreneurialism.
"I hope the roadshow will highlight the wealth of talent and ideas that exist," he mentioned.
The IsDB established the special STI department that launched the 'Engage Platform and Transform Fund' in partnership with both public and private sectors.
The key objective is to promote the transfer of knowledge between institutions and countries.
Leverage Science founder and CEO Dr Fil Randazzo and Danish entrepreneur and former hedge fund manager Dr Lars Kroijer acted as mentors to the pitch teams.
United Nations Economic and Social Commission for Asia and the Pacific chief of technology and innovation Dr Jonathan Wong also acted as a mentor.
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