Announcement of IADP Award
The following bidders have been awarded the IADP tender:
|Name of Accelerator|
|Oasis 500 Cohort one|
|The Core HTU|
|Name of Incubator|
|INTAJ Consortium – Cyber Security|
|Royal Scientific Society – Aqaba|
|OFES – Organic Fertilizer Incubator|
|ORANGE AI Incubator|
|Terms of Reference|
|Project:||Support to Innovative Start-ups Fund Project||Location:||Amman – Jordan|
|Subject||Enhance and Develop National Incubators and/or Accelerators for Entrepreneurs, Management Teams, and Start Ups.|
|FAQS||Click here for the IADP Questions and Answers|
|Project Overview and TOR Background|
In recent years, the role of entrepreneurs and micro, small and medium-sized enterprises has steadily gained importance being one of the driving forces for job creation, business innovation and green and inclusive growth.
The ISSF has a key focus area to support the healthy Jordanian Entrepreneurship Ecosystem through interventions that will support a strong investable deal flow of young companies that allows for the introduction of innovative solutions that continue to distinguish Jordan, and therefore allow it to continue to play a leading role in meeting the economic dimension of Sustainable Development.
The Innovative Startups & SMEs Fund (“ISSF”), is a Jordanian company with the purpose of making equity and quasi equity investments in innovative startups & SMEs directly through the ISSF or indirectly through funds and implementing activities to support entities to create a quality deal flow of viable potential investments.
The project’s development objective (PDO) is to increase private early stage equity finance for innovative small and medium enterprises (SMEs). The PDO will be measured through the following Results Indicators: (i) Amount of private capital mobilized through the project; (ii) Beneficiary companies receiving financing through the project; and (iii) Beneficiary companies that introduced a new product or process.
The project is structured around three components:
- Component 1. Financing to SMEs including investment support (US$53.5 million of which US$44.75 million is World Bank financing)
- Component 2. Deal-Flow Creation Support (US$6.25 million of which US$3.125 million is World Bank financing)
- Component 3. Project Management, Coordination and Monitoring & Evaluation (US$4 million of which US$2 million is World Bank financing)
Table 1. Project Components
The mandate of this Terms of Reference falls under Component 2. Under this activity, the ISSF will support at least 150 entrepreneurs/management teams and start-ups to benefit from quality incubation and acceleration services in Jordan.
ISSF’s Definition of an Incubator? An incubator is the combination of a physical space and a set of services which help entrepreneurs and management teams of very early stage start-ups address challenges associated with launching new companies. Incubators allow start-ups to physically base themselves within an incubator for long periods of time (months or even years). Incubators typically provide tenants with a variety of services which can include the following:
- Physical space
- Infrastructure (meeting rooms, furnished office space, high speed internet, telephones, printers, etc.)
- Shared administrative or office services
- Networking activities
- Marketing assistance
- Accounting and financial management services
- Legal services
- Specialized equipment…particularly if vertically focused (3D printers, CAD equipment, workstations, etc.)
- Comprehensive business training
- Assistance with business basics
- Presentation skills training Access to mentors and advisory boards
- E-Commerce assistance
- HR training
- Access to business angels, seed financing, venture capitalists, grant monies
- Assistance in raising bank finance, grants, seed, angel and venture capital.
ISSF’s Definition of an Accelerator? An accelerator is generally tailored for more mature start-ups. Accelerators provide focused programs to assist companies to scale. Accelerators assume that a specific level of business knowledge and capability exist within the company receiving acceleration who are able to understand and implement recommendations. Generally, accelerator programs provide a highly focused three to four-month program where companies receive mentoring and guidance to build their companies. After completing successful acceleration, companies are often graduated and promoted to interested investors and venture capital funds (typically post seed funding).
Table 2. Ecosystem Support Activities for Deal Flow Creation
ISSF will receive and evaluate proposals submitted by existing business incubators and or accelerators to implement Sub-Component 2.1. named “Incubator and Accelerator Development Programs” (IADP) established to:
- Create knowledgeable and competent entrepreneurs and management teams, provide insight on what entrepreneurs and management teams should expect as they evolve/develop through Incubation and
- Facilitate the growth of more mature start-ups SMEs via the provision of structured and studied interventions through an acceleration program to prepare the start-ups to meet the requirements at specific stages of capital raising (seed stage, early stage, Venture capital stage, later growth stage capital) as well as scaling the individual companies.
This ISSF’s IADP program will be launched to multiple beneficiaries (incubators and accelerators) with a total budgeted amount of $2.50 million fund dedicated to facilitating the provision of well-studied and relevant incubation and acceleration programs that will target 150 entrepreneurs, management teams and start-ups. It is expected that 10 cohorts will be incubated or accelerated over three years. Each cohort is expected to target 15-20 entrepreneurs, management teams or companies. Incubation and acceleration are expected to be carried out over a period of 4-6 months.
|TOR Key Objectives & Purpose|
The ISSF wishes to obtain proposals from interested incubators and accelerators who have identified ways and means to improve their services such to beneficiaries, such that the quality of entrepreneurs, management teams and start-ups are improved, thereby improving the business fundamentals of entrepreneurs, management teams and start-ups seeking finance and investment (locally, regionally and internationally).
- The objective of funding incubator proposals is to provide entrepreneurs, management teams at the ideation stage and early stage start-ups with knowledge to help them understand the development journey they will likely go through as they develop and provide them with the necessary skills and competencies to navigate the ideation stage to seed stage/early stage funding.
- The objective of funding accelerator proposals is to provide focused guidance and assistance for targeted companies to accelerate their growth (sales, market development, product development, etc.) while ensuring that the required management structures and competencies are available within the company. Acceleration usually is applied to companies with existing clients and sales who have identified specific opportunities (capital raising and growth).
The purpose of the IADP program is to help develop robust and knowledgeable entrepreneurs and management teams who can build, sustain and grow start-ups and early stage companies throughout their evolution (incubation) as well as provide focused assistance (acceleration) which enables them to achieve objectives more quickly than normal. The IADP program is ultimately seeking to provide higher quality investments to the Jordanian investment eco-system by helping develop more capable, knowledgeable and robust entrepreneurs and management teams.
Entrepreneurs, management teams and companies that are considered for incubation or acceleration will be required to demonstrate the viability of their ideas and how they intend to execute the idea (if at ideation stage) or to articulate the objective/opportunity which they wish to pursue through acceleration and how acceleration is likely to assist them in achieving their objective.
Against this background, ISSF is seeking to receive proposals from existing incubators and accelerators to design and provide effective and relevant incubation and acceleration services to entrepreneurs, management teams and companies at various stages of project/company development and need (Ideation, Seed, Angel, Venture Capital and Growth Capital). Interested parties must demonstrate deep knowledge of the need for the proposed services as well as how they are going to deliver such services. Interested parties must also demonstrate how they intend to monitor and evaluate the efficacy of the services to the beneficiaries as well as explain how they will mitigate any identified shortfalls.
It is envisaged that existing individual incubators and accelerators will apply. Proposals from institutions wishing to establish incubators or accelerators will also be considered.
Below are the collective key metrics the Incubators and/or accelerators will have to achieve successfully:
- At least 150 entrepreneurs, management teams and companies receive defined incubation and acceleration services.
- ISSF would like to see at least 30 percent of entrepreneurs, management teams or companies must be women or women led
- ISSF would like to see at least 30 percent of entrepreneurs, management teams or companies must be classified as youth or youth led. Youth is broadly defined in Jordan as individuals between the ages of 12 and 30. (Jordan National Youth Strategy).
|Scope of Work|
This ToR seeks to attract proposals from existing incubators and accelerators which include technical and financial proposals for the design, management and implementation of at least the following:
- Organize competitions and provide prizes for best in class innovative concepts and ideas, including after competition follow up to ensure implementation of these concepts and ideas.
- Organize entrepreneurship awareness activities to attract aspiring entrepreneurs to apply for incubation or acceleration programs; including reaching out and building linkages with universities.
- Identify and assign well-matched coaches and mentors (with entrepreneurial experience) to advise entrepreneurs and management teams on developing their business models, business plans, challenges, and action plans which define time bound milestones to monitor progress. It can be very valuable to facilitate repeat interactions between entrepreneurs and the mentors or investors they meet at a program, so that the entrepreneurs can demonstrate how they respond to feedback and report on their progress over time.
- Provide specialized training (professional) to selected entrepreneurs and management teams to help ideation stage entrepreneurs in conceptualizing, realizing a minimum viable product and and launching their businesses and more mature entrepreneurs in scaling and getting investment – ready. It’s important to avoid building the entire programs around guest speakers or formal lecture style sessions, and rather give entrepreneurs the opportunity to apply the learning to their business.
- Emphasize on peer-to-peer learning and mentoring. Data from GALI (Global Accelerator Learning Initiative) show that in incubators and accelerators that emphasize collaboration between peer startups tend to outperform those that do not. This includes providing dedicated resources for team building within one cohort as well as bringing different cohorts together, thus, enabling knowledge sharing between alumni and new cohorts. Moreover, alumni should be proactively involved in workshops or key notes to share their entrepreneurial best practices as well as their experiences on how to make the most out of the incubation or acceleration program
- Organize networking events for entrepreneurs and management teams which will aim to establish networks with industry leaders and suppliers, interact with potential customers, participate in trade fairs and/or industry events.
- Organize events dedicated to match-making entrepreneurs and investors and corporates (relevant to their stage), including on-stage pitches and also 1-1 investor deep-dive meetings.
- Build smart partnerships and educate partners on how to add tangible value to companies: A GALI study found that partners such as corporates or large institutions that are perceived as “adding brand value” because of their famous names do not play a major role in delivering positive program outcomes. On the other hand, partners who contribute to the curriculum and play a meaningful role in programming tend to yield better outcomes — even if they are not as well known.
- Follow up to measure the achievement of selected projects and provide written reports in their progress.
- If required, leasing co-working space for entrepreneurs and fledgling management teams, Space should include desks working chairs, phone lines and high-speed internet connection.
- Integrate specific actions to ensure greater participation and retention of women, including a focus on soft skills, specifically confidence-building, leveraging female role models and building networks.
- To guarantee a sustainable model for the participation of female entrepreneurs, develop a gender strategy, aiming at empowering women entrepreneurship by incorporating (but not limited to) women’s local networks as trusted interlocutors between the program and women. The gender strategies should be aligned with the needs and objectives of the program.
- Any gender considerations must be highly contextualized, such as informed by the social and cultural context of Jordan, as women’s access to comparable entrepreneurship programs, finance or services is often subject to norms and social expectations.
- Differentiate between targeting and participation of women in the program (i.e. do not assume that successfully targeting women in your outreach will ensure their full participation all the way through).
- Build a sustainable business model beyond the ISSF support. Several of the most successful incubators and accelerators in the world have diversified the ways they generate revenue beyond philanthropic capital and subsidies – for instance, through consulting and research fees, rental fees for their coworking spaces, corporate sponsorships, sponsored data and impact research, and commission on capital raised for their startups.
- Identification if the proposal is for an incubator or accelerator
- Identification of the needs which the incubator or accelerator is targeting to meet with entrepreneurs, management teams or companies.
- Validation of the identified needs being met (are these true needs, how does one know) with entrepreneurs, management teams and target markets.
- Develop qualification criteria for entrepreneurs, management teams and companies who will benefit from the proposed services and be admitted into the incubator or accelerator.
- Identification of the proposed services being offered by the incubator and accelerator, the suggested budget, the cost, sequence and schedule of individual services and interventions, and how these effectively address the identified needs (value proposition).
- Services and interventions may include training programs, mentoring programs, managerial support, marketing assistance, etc.
- Identification of the individuals and/or the programs who will deliver the required services or mentoring along with their credentials. This must include incubator staff if they provide meaningful service to tenants.
- How the incubator or accelerator will communicate with the identified target market and recruit the required numbers for incubation or acceleration.
- Identification how gender objectives will be achieved,
- Documentation of the proposed services to be delivered.
- Identification of geographic areas to be addressed.
- Identification of whether the incubator or accelerator beneficiaries are mere recipients of the provided service and/or whether they contribute financially to the service.
- Identification of whether the proposed service will be funded from other sources (grants, donations, etc.)
- How the proposals submitted by the incubators and accelerators will assist in achieving sustainability.
The submitting incubator or accelerator will market their individual programs and prepare and implement a marketing plan to enrol 150 (or a part thereof) entrepreneurs, management teams and companies into the program over 3 years. Register all applicants, and ecosystem players into a marketplace platform sourced by the ISSF (i.e. ISSF CRM PipeDrive and the ISSF Deal Flow Platform).
Programs with a narrow focus should be considered, for instance seeking applications from startups in specific sectors such as hardware or agtech, rather than a broad category like tech startups. A GALI study that compared high and low performing incubation and acceleration programs indeed found that the programs that had fewer entrepreneurs apply and that were sector specific actually had better outcomes, with not only higher quality entrepreneurs, but also improved ability to raise funding, quality of partners and mentors, and better peer to peer interactions. The following two reports could be of a good guidance:
The submitting incubator or accelerator will develop acceptance criteria for incubation or acceleration for the targeted number of entrepreneurs/management teams/companies to be incubated or accelerated.
- In order to ensure investment alignment in the selection of companies, emphasis partnerships with the investment community (including ISSF-invested funds) by engaging investors from the start of the incubation and acceleration programs in the recruitment (sourcing their referrals) and selection (giving them a seat in the committee), as well as involving them as mentors and trainers throughout the programs; investors should view incubation and acceleration programs as a “grooming opportunity” for their pipeline.
- The submitting incubator or accelerator will review the business needs of the entrepreneur/management team or company to establish whether the services being provided will address and the business development plans with the founders and ensure acceptance and quality of their deliverables and will supervise and follow up the implementation.
- The submitting incubator or accelerator will coordinate with the entrepreneur, management team or start-up to identify their needs and the services to be implemented to address these needs.
- Supervise the implementation of business development plans by qualified vendors, and service providers through the contract period.
Monitoring and Evaluation of Proposals:
The ISSF requires monitoring and evaluation for the selected incubator and acceleration programs to identify, measure and evaluate how the selected proposals address the identified objectives and how it may be modified if the objectives are not met satisfactorily.
Assessment will review the efficacy of the designed and delivered incubation and acceleration programs against the individual defined objectives provided by the submitting incubator or accelerator. Assessment will also be based on feedback from beneficiaries of the individual incubation and acceleration programs provided.
- The submitting incubator or accelerator will conduct an evaluation process by asking beneficiaries to rate the delivered incubation or acceleration.
- The submitting incubator or accelerator will prepare statements of expenditure and program costs.
- The submitting incubator or accelerator will maintain up-to-date program implementation expenditure
- The submitting incubator or accelerator will submit periodic reports to the ISSF, including:
- Quarterly achievement reports
- An annual performance report
- A completion performance report
- Reports will show;
- Monthly awareness building initiatives, and number of applicants
- # of applicants screened
- # of applicants rejected
- # of new employment opportunities generated (full and part time, male and female)
- # of female entrepreneurs or female led management teams and female led companies
- # of youth entrepreneurs or female led management teams and female led companies
- Increases in revenues and profitability (if any) of beneficiary companies
- # of new markets successfully entered (executed sales)
- Size of investment attracted (angel, seed, early stage, VC, late growth stage, and even private equity if applicable).
- The ISSF is expected to follow up on the implementation of the above-listed tasks, either by joining visits together with the submitting incubator or accelerator or reaching out directly to the beneficiaries of submitting incubators or accelerators.
- The ISSF will conduct an annual evaluation for the performance of the submitting incubator or accelerator.
- The ISSF will receive regular reports on the performance of the incubation or acceleration programs in the form of management reports, which will include updated project indicators based on submitted project results framework.
The ISSF, will request an annual assessment of the submitting incubator or accelerator. The submitting incubator or accelerator will work on qualifying entrepreneurs, management teams and companies into the incubator or accelerator program.
Assessment for Incubators:
- Awareness building of the different managerial and skill requirements at different stages of company development;
- Awareness building of the importance of building teams and distributing tasks, authorities and responsibilities;
- Awareness building of the required company profile needed for various stages of funding (Angel, seed, early stage, venture capital and late stage funding);
- Awareness building on typical company development and growth strategies (ideation, angel investment, seed funding, venture capital funding (series a, b, c, d), private equity, acquisition and trade sales culminating in final exit if so desired.
- Understanding how value is built within companies (organizational development, product/service development, market development, brand building, IP development, scaling, etc.) and how to maximize company value as a prerequisite to staged capital raising and as a means to protect founder’s interests (Cap tables, funding, ownership and remuneration).
- Provision and/or guidance on financial services, book keeping, accounting and auditing;
- Provision and/or guidance regarding legal services (contracts, IP registration, trademarks, employment contracts, company registration, vocational license provision, etc.)
- Provision of mentoring to entrepreneurs and management teams on the importance of strategy development, corporate structure, corporate governance, organizational structure, HR strategies and systems, etc.;
- Provision and/or access to market research and marketing consultancy services;
- Provision and/or access to strategy and business planning consultancy services;
- Awareness building regarding:
- Corporate governance, succession planning;
- Production process improvement (including Certification);
- New market, service, or product feasibility studies and business plans;
- Technology & Technical design and development requirements, & strategy;
- Knowledge, learning and resource acquisition
- Innovation and product development
- Product architecture
- Startup strategy
- In conducting the above, the submitting incubator or accelerator will identify how the individual services will be designed, organized and delivered.
Assessment for Accelerators:
- The submitting incubator or accelerator will deliver enabling programs such as:
- introducing local and global case studies,
- guest speakers,
- peer to peer learning groups,
- business canvas workshops,
- MVP launch workshops,
- Product Strategy workshops,
- Investment Pitch Sessions,
- Angel Investor networking events,
- Venture Capital networking.
- Organize graduation activities for entrepreneurs and management teams
- Present incubated or accelerated companies to appropriate and aligned investors (local, regional and even international).
- The Incubator or Accelerator will work with the ISSF-sourced vendor selected to develop the program’s website and deal flow market place platform.
- Applications for will be open around the year.
- Managing an updated website of the program and its services.
- Registration of all stakeholders wishing to participate in the program. Startups, Angel investors, Partners, etc.
- Maintain a database for all applications
- The Incubator or Accelerator with the supervision of the ISSF will apply the eligibility criteria for entrepreneurs, management teams and startups wishing to participate in the program that will all have to apply to the CRM Pipedrive software of ISSF:
- Registration for the program is filled online on the website any time of the year throughout the duration of the program.
- Screen the submitted applications, review them, conduct a face-to-face interview, open a physical file and prepare a needs assessment report for each application based on the registration forms and interview; and finally recommend the application or reject it for participation.
- Present the accepted and rejected applications to the ISSF for approval, afterwards all applicants will be notified of their applications status.
- The incubator/accelerator will work on the Measurement of Achieved Results and Impact Assessment under the supervision of the ISSF, will develop rules and processes to monitor and measure the results and impact of the program. A quarterly report will be prepared to measure the achievement of results and impact assessment to be presented to the ISSF. Suggested key performance indicators are included below:
- Numbers of entrepreneurs, management teams or start-ups submitted to participate in incubation or acceleration, classified by age, gender, number of employees, capital, sector and current markets.
- Start-ups that participated in the program classified by phase of development (ideation, angel, seed, early growth)
- Numbers that secured their investment after or during the incubation or acceleration program.
- Number of start-ups achieving initials sales
- Number of start-ups achieving financial stability (profits and positive cash flow).
- Number of enterprises achieving growth (increase in the size of the enterprise – increased geographic footprint, addition of new services, or products).
- Number of start-ups that Introduced a new product, service or process
- Percent of female beneficiaries (30%)
- Percent of youth beneficiaries (30%)
- Impact Assessment:
- Number of start-ups that have created new job opportunities (taking into account size of the enterprise and total number of posts classified by nationality, gender, age group, qualification and grade).
- Impact of growth capital on cost structure and operating model and compensation structure to retain local talent (e.g. average salary of staff) in Jordan.
- Program Implementation Requirements that the incubator or accelerator should prepare:
- Program objectives
- Program procedures and how these achieve the objectives.
- Development of the technical requirements of the program site.
- Program performance evaluation reports.
- Satisfaction reports of the entrepreneurs, management teams or startups.
- Beneficiary requests for registration applications.
- Interview report and needs assessment of startup founders.
- Evaluation reports for who applied to the program (accepted/rejected).
- A complete document and electronic file for each start-up including all transactions during the period of dealing and contract signed.
- Program costs and expenses.
- Start-up diagnostic models and questionnaire templates.
- Start-up diagnostic report templates.
- Start-up development plans templates.
- Start-up diagnostic and development plan presentation templates.
- Start-up diagnostic and business development plans presentations (via PowerPoint).
- Pitch decks used for capital raising
- Any other documents related to the implementation of the program, such as investment term sheets, etc.
The proposal duration is dependent on the individual submissions by incubators or accelerators. Proposals can be for up to 3 years based on the evaluation and performance of the incubator or accelerator by the ISSF. The ISSF will either, on their own or through a third-party, evaluate of the performance and achievements of the awarded incubator or accelerator against the agreed objectives, outcomes and deliverables of the individuals signed contract. In the case of poor performance, the ISSF reserves the right to cancel the contract without any obligations; in such circumstances, the ISSF will provide selected incubator or accelerator with a written notice of their decision to terminate the contract three months in advance of the determined ending date.
The selected incubator(s) or accelerator(s) will be responsible for the confidentiality of all information and documents. Sharing information with a third party is prohibited. The selected incubator(s) or accelerator(s) will sign
(a) confidentiality agreement(s) that cover(s) engagements with the ISSF, and all incubator/accelerator beneficiaries.
- The contracted incubator/accelerator shall ensure that the required resources are budgeted for in their offers to deliver the expected services described in their technical offers at any point during the time frame of this potential engagement.
- ELIGIBILITY CRITERIA
- Interested incubators and accelerators must meet the following criteria for eligibility:
- Demonstrated practical experience in developing and managing cohorts of entrepreneurs, management teams and companies through business incubation and/or acceleration programs.
- Qualified management team members in similar projects.
- Interested incubators and accelerators must meet the following criteria for eligibility:
- Robust methodology, approach and practical experience in identifying needs, developing and conducting relevant entrepreneurship training.
- Strong marketing, communications and outreach using print, electronic means and social media.
- Strong understanding of monitoring and evaluation methodologies and an ability to conduct/assist in in data collection and analysis.
- Registered as a company or NGO in Jordan with favorable regional/international affiliations with entities having solid experience in entrepreneurial development.
- Vertical Focused.
- Entrepreneurs, management team & Startups Registration Criteria:
- Jordanian entrepreneurs,
- Jordanian led management teams,
- Jordanian registered start-ups or more mature companies with a material presence in Jordan,
- The start-ups’ activities are in line with the ISSF strategy.
|Request For Proposals|
Taking into consideration all the above items, please submit the following to the ISSF offices located in Jabal Amman 3rd Circle opposite of the Ministry of Planning, Middle East Insurance building first floor no later than (February 27th, 2020 – Until 12Pm GMT +2).
- Technical Proposal
- Requirements for Technical Proposal
- The proposal should include the information requested below:
- Letter of Interest
- Table of Contents
- Executive Summary Summarizing the Proposal
- Organization (Incubation/Acceleration) Background
- Letters of Recommendation and Reference
- Organization Experience and Qualifications
- Identification of the existing or the new challenge the applicant is looking to solve.
- The proposal should include the information requested below:
- Technical Approach to Scope of Work (a description of the work program including a description of deliverables and activities designed to resolve the predefined challenge).
- Work Plan, Timeline of Deliveries and Performance, and Budget
- Scheduling of billing rates and a specific “not to exceed” capped fee including associated fees. ISSF is open to receive multiple proposals with a collective cap of $250,000.
- Company’s legal registration documents
- Authorized signature certificate
- Vocational License
- Company and partners financial position for the last three years (financial statement).
- Criteria for Selecting The Best Offer
- Proposals will be evaluated by a select technical review panel and ISSF staff and judged based on the following criteria:
- Thoroughness and understanding of the tasks to be completed
- Background and experience in projects similar to the proposal
- Staff expertise and overall experience of personnel assigned to the work
- Time required to accomplish the requested services
- Responsiveness and compliance to requirements of the project.
- Showcase of the value being created through the platform to the beneficiaries.
- Companies that pass the initial selection stage, will be invited to pitch their innovative programs Infront of evaluation committee.
- Criteria for contract award: Highest Combined Technical and Financial Scores.
- Technical criteria weight is 80% (only respondents who received 80 scores of 100 will be eligible for opening of their financial offer).
- Proposals will be evaluated by a select technical review panel and ISSF staff and judged based on the following criteria:
|Criteria Category||Weight||Maximum Points|
|· Expertise of the Firm: – Preferably 3 years of relevant experience especially with regards to incubation, acceleration or impact investment.
· Expert knowledge of start-up development, customer development, market expansion, venture financing, acceleration of ventures, technological know-how.
|· Methodology, Its Appropriateness to the Condition and Timeliness of the Implementation Plan.
· Problem identification and proposed solution(s).
· Targeted Geographies and reasons behind selection.
· Targeted segments, i.e., Youth, Women, etc..
· Vertical Focus
|· Partnerships with existing ecosystems stockholders, i.e., NGOs, Innovation Hubs, etc.…||20%||20|
The length of the proposal should be 25 pages or less and should be readable and actionable. The technical proposal should be submitted in a sealed envelope, labelled “Technical Offer”, followed by company name and date of submission, stamped with the company’s stamp. Additionally, one electronic copy of the proposal should be emailed to firstname.lastname@example.org.
- Financial Proposal
- A separate itemized financial proposal submitted in sealed envelope, labelled “Financial Offer”, followed by company name and date of submission, stamped with the company’s stamp. Companies are requested a fee structure that can be embedded within the fees listed herein at no extra cost by the ISSF. This will be a significant part of the selection criteria. Company and partners financial position for the three last years (Financial Statement).
- The Financial Proposal shall list all costs associated with the assignment. If appropriate, these costs should be broken down by activity and key components. All activities and items described in the Technical Proposal must be priced separately; activities and items described in the Technical Proposal but not priced, shall be assumed to be included in the prices of other activities or items.
- Taxes: The services offered may be subject to local taxes such as value added and sales tax. Any such amounts shall be included in the Financial Proposals.
- Bid Bond: Bidding companies must submit a 10% bid bond of total financial proposal to be replaced by the awarded company with a 10% performance bond of the total amount of the tender and renewed annually until the completion of the project.
- Financial Criteria weight is 20%
|Criteria Category||Weight||Maximum Points|
|Budgets allocated to implementing activities rather than building infrastructure.
ISSF would less likely consider allocating budgets to salaries, offices, equipment, etc.…
|Budget justification and detail, and credibility and thoroughness of expense budget.||25%||25|
|Lowest price for required standard deliverables.||25%||25|
The technical proposal will be evaluated first, and separately from the financial proposals. The financial proposal shall be returned, sealed, and unopened to the parties who did not pass the technical review. The ISSF will not be obliged to provide justification for the technical review results.
- TOR Annexes
ISSF Monitoring & Evaluation – Results Framework
- Written Questions:
Prospective respondents will have the opportunity to submit written questions via email to clarify any uncertainties that may exist. All questions must be submitted via email to email@example.com. Questions must be received by ISSF no later than 1/5/2020. All questions shall be marked “IADP TOR” in the email subject line.
Monitoring and Evaluation- Results Framework
|Project Development Objective Indicators|
|Intermediate Results Indicators|
|Project Development Objective Indicators FY|
|Indicator Name||Baseline||YR1||YR2||YR3||YR4||YR5||End Target|
|Private Capital Mobilized||0.00||20000000.00||30000000.00||45000000.00||55000000.00||71500000.00||71500000.00|
|Private Early/Seed Stage Capital Mobilized Through the Project||0.00||10000000.00||15000000.00||25000000.00||30000000.00||38500000.00||38500000.00|
|Private Venture Capital Mobilized Through the Project||0.00||10000000.00||15000000.00||20000000.00||25000000.00||33000000.00||33000000.00|
|Beneficiary companies receiving financing through the project||0.00||20.00||50.00||90.00||140.00||200.00||200.00|
|Beneficiary companies receiving private Early/Seed Stage financing through the project||0.00||40.00||72.00||112.00||144.00||160.00||160.00|
|Beneficiary companies receiving private VC financing through the project||0.00||10.00||18.00||28.00||36.00||40.00||40.00|
|Beneficiary companies led by women receiving early stage financing through the project||0.00||25.00||25.00||25.00||25.00||25.00||25.00|
|Beneficiary companies led by youth receiving early stage financing through the project||0.00||30.00||30.00||30.00||30.00||30.00||30.00|
|Beneficiary companies graduating from the Deal Flow component receiving financing through the project||0.00||0.00||5.00||10.00||15.00||20.00||20.00|
|Beneficiary companies that introduced a new product or process||0.00||100.00||100.00||100.00||100.00||100.00||100.00|
|Intermediate Results Indicators FY|
|Indicator Name||Baseline||YR1||YR2||YR3||YR4||YR5||End Target|
|Total Financial Intermediaries receiving financing through the project||0.00||1.00||4.00||7.00||10.00||10.00||10.00|
|the part of the component||0.00||1.00||2.00||3.00||4.00||4.00||4.00|
|Early/Seed Stage financial intermediaries receiving financing through the project||0.00||2.00||3.00||4.00||5.00||6.00||6.00|
|Beneficiaries receiving acceleration services for 4-6 months||0.00||15.00||45.00||90.00||150.00||150.00||150.00|
|Female beneficiaries receiving incubation/acceleration services for 4-6 months||0.00||25.00||25.00||25.00||25.00||25.00||25.00|
|Young beneficiaries receiving incubation/acceleration services for 4-6 months||0.00||30.00||30.00||30.00||30.00||30.00||30.00|
|Prospective Angel investors receiving training||0.00||0.00||10.00||20.00||30.00||30.00||30.00|
|Shareholder or partnership agreements signed/completed with equity finance providers/financial intermediaries||0.00||1.00||2.00||2.00||2.00||2.00||2.00|
|Beneficiaries satisfied with services received and performance||0.00||50.00||50.00||50.00||75.00||75.00||75.00|
|Beneficiary companies receiving IR support and BDS services through the project||0.00||130.00||265.00||400.00||535.00||675.00||675.00|
|Beneficiary companies led by women receiving IR support and BDS services through the project||0.00||25.00||25.00||25.00||25.00||25.00||25.00|
|Beneficiary companies led by youth receiving IR support and BDS services through the project||0.00||30.00||30.00||30.00||30.00||30.00||30.00|
|Beneficiary companies receiving IR support through the project||0.00||120.00||240.00||360.00||480.00||600.00||600.00|
|Beneficiary companies receiving BDS services through the project||0.00||10.00||25.00||40.00||55.00||75.00||75.00|