Submission deadline for the 4th Bangladesh Innovation Award has been extended till 31st January, 2022.
Innovation continues to be one of the key drivers in the digital age and technology. With the ongoing pandemic, innovation has proven to be an essential trajectory for brands and business as they adapt and overcome the challenges through novel solutions. Innovation remains crucially important for Bangladesh.
Innovation needs to take center stage in our approach and thinking regarding everything that we do. In keeping with the line of thought the Bangladesh Innovation Award has been conceived to recognize the community of innovators – be it entrepreneurs, start-ups, or established organizations – and their groundbreaking innovations. The accolade also aims to inculcate and inspire an innovative and creative mindset within local industries to take Bangladesh forward.
Nominees in the Bangladesh Innovations Award will be subject to a strict evaluation process by peers and leaders from business, civic, and academic communities. Ground-breaking innovations that pioneer newer possibilities and scope for the market-products, services or processes – will be evaluated and measured on their originality, market impact, socio-economic influence, disruptive capabilities and introduction of newer effects on the status quo.
There are a total of 13 major categories and 11 sub-categories for Bangladesh Innovation Award 2022.
Best Innovation – Finance
Financial innovation is the overall progress in creating and popularizing new & unique financial instruments, technologies, FinTech solutions which are used in product and process innovation at institutional/market levels.
– Innovation in Banks
Innovation in response to consumer expectations and faster, secure transactions are markers of innovation in banks.
– Innovation in NBFIs
This category showcases digital solutions with an effective impact on product and service dimensions of Non-Bank Financial institutions.
– Innovation in Other Financial Institutions
This category recognizes new, disruptive solutions used and popularized in improving service and product innovation in service quality.
– Innovation in Insurance
Innovation in the Insurance sector is progressive plans and product/process solutions for providing better access to service to the population and improving risk management practices in a way to promote resilience and sustainable living.
Best Innovation – Apparel Sector
The study is based on applied research regarding innovation in the apparel industry. This refers to internal aspects of the enterprise and has the sole purpose of improving the internal performances of the company. The category also emphasizes sustainable design theories and techniques in order to drive the industry towards a circular fashion system.
Best Innovation – Healthcare
Healthcare innovation is aimed to improve the domain of health care availability/ quality/safety – through implementation of new policies, innovative solutions to crisis or development of new diagnostic procedures/therapies/drugs/medical devices or improvements in management/operational/organizational structures. They can also be uniquely positioned to improve the quality and delivery of healthcare through evidence‐based medical innovations, sound life science research, and smart technology solutions.
Best Innovation – Community Engagement
Innovation in Community Engagement is actionable change applied to improve the lives of communities and individuals under duress, struggle or social distancing to counter impacts of social/cultural/economic crisis on human lives through connecting and collaborating with communities and enhancing the public perception.
Best Innovation – SDG Inclusion
Investment in infrastructure and innovation are crucial drivers of economic growth and development. Technological progress is also key to finding lasting solutions to both economic and environmental challenges, such as providing new jobs and promoting energy efficiency.
Best Innovation – Agriculture Sector
This category encompasses developments in agriculture through the use of innovation. The underlying theme of these innovations are, but not limited to, assisting farmers to optimize use of farm inputs and improve yields, developing the agricultural ecosystem for knowledge, culture & agricultural technology.
Best Process Innovation
Process innovation means the implementation of a new or significantly improved production or delivery method (including significant changes in techniques, equipment and/ or software). Additionally, process innovation can generate significant gains in product quality and service levels.
Best Innovation – Product Development
Product Development innovation is the creation and subsequent introduction of a good or service that is either new or an improved version of previous goods or services by transforming innovative ideas into reality. It entails all activities involved in turning a concept for new and better user experiences into real-world products.
Best Start-Up Innovation
This category may define a group of entrepreneurial talent in creating modern developments, in the identifiable and investable frame, in progress to validate and capture the value of the made development – with the desire to develop a fast and adaptable business model for maximum impact. Which may lead to the creation of new products and services that deliver value to customers, in a manner that is supported by a sustainable and profitable business model.
Best Social Innovation
Social innovations are new strategies, concepts, ideas and organizations that meet the social needs of different elements which can be from working conditions and education to community development and health — they extend and strengthen civil society.
Best Innovation – Education Sector
Innovation in Education sector is the introduction and implementation of modern technology/instruments/mediums to better deliver education across different demographics with an objective to increase access to better education for all.
– University Learning Delivery
Introducing innovative platforms/tools/practices to ensure delivery and access to lectures & classes digitally at the University level for continued learning – is the criteria for this category
– School Learning Delivery
This category considers ensuring wider access and syllabus innovation introduced at schools to deliver tests, exams, lessons, and accessible support for students, or ensuring access to study materials and lectures through innovative technology and processes for every student.
– 3rd Party Education Innovation
Innovation by 3rd Party education promoters in delivery, access, distribution and overall facilitation of education through digital/physical mediums, or creation of new platforms to improve/facilitate effective pedagogy, training, upskilling initiatives for the population.
Best Innovation – Frontier Technology
Efforts to generate or provide ground-breaking solutions that may be implemented later on a large scale and achieve worldwide mainstream adoption are crucial to achieve sustainable development. This category recognizes organizations that have made considerable progress in accelerating and improving public access to benefits of frontier technology.
Public Service Innovation
This category showcases solutions that address root causes or emerging societal demands for the delivery of the services to citizens (or other external partners) by the Government of Bangladesh.
– Innovation in Service Delivery
Innovation in process, products, policies, investing and applying new tools and strategies to consistently deliver on client service innovation through resourcing and partnering, packaging, and generating value with customers.
– Best COVID-19 Response
This category recognizes innovative localized strategies and efforts intended to tackle COVID-19 impacts on business and human lives, that have resulted in phenomenal effect on public health and safety
– Citizen Co-Creation
This category recognizes development of new public services and values by citizens in partnership with governments and other bodies to effectively impact human lives by improving access to governance & public services.
– Innovation Created from Ground Up
Fresh, new innovations that have introduced new services, products, policies and strategies that were built from scratch, applied at grassroot levels to test effectiveness and recognized at different levels as a ground-breaking opportunity to impact public service dimensions – are considered in this category.
Innovation Award Entry Submission deadline extended to 31st January, 2022
For Further Query:
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