Yes.

Only if it is partnered with a private sector applicant as per the eligibility criteria mentioned earlier. The partner company must lead the application and demonstrate sufficient commitment to the project.

Likewise, the NGO must collaborate with a partner company as per the eligibility criteria mentioned earlier. The partner company must lead the application and demonstrate sufficient commitment to the project. 

No.

No, all applications must come from registered organisations.

All applicants must provide evidence of their legal status, office address, telephone number, company registration document and tax registration. Applicable regulatory approvals governing project activities will need to be obtained.

All applicants will need to demonstrate their capacity to implement their proposed innovation project and must also be able to contribute 50% of the cost of the proposed activities.

All project activities (and hence, proposed cost items) supported by Udoy should have a direct link to the development of the proposed innovation (client-centric, climate-sensitive microinsurance product, service, distribution channel, business model, etc.) with a reasonably high potential for benefitting many farmers and MSMEs in the crop, fisheries, and livestock sectors. 

Udoy will not cover costs that directly subsidize the delivery of insurance products or services to the target beneficiaries, such as premiums or any form of claim settlement payouts. Investments in fixed assets—like real estate, vehicles, furniture, fixtures, or equipment—will not be eligible and will not be included in the costs for implementing the proposed initiative. However, investments in technology that are part of the solution or product offering will be considered.

The matching grant support is set at a 50-50 contribution ratio between the Grant Applicant and Udoy. Udoy’s match for an innovation proposal will not exceed a maximum of BDT 3 Crore, meaning the total size of a proposed initiative or project cannot exceed BDT 6 Crore.

We welcome applicants from any part of Bangladesh. However, the project will need to demonstrate that it can benefit a significant number of smallholder farmers and MSMEs’ access to affordable microinsurance products or services.

We will consider projects located in any part of Bangladesh covering climate hotspots. Proposals that have the prospect of having a positive impact on resilience, sustainable development and farmers' income enhancement will receive favorable consideration.

At this stage, Udoy only wishes to consider project proposals that fit within the parameters set by the specific challenge. However, you may consider writing to us at info.cmif@bmmdp.org, so that we can keep you updated on future challenges.

Yes. All applications are treated with the strictest confidentiality. All staff members involved in day-to-day management of Udoy, as well as the Investment Committee members, have signed a binding Code of Conduct to protect your information from being disclosed and/or used for personal gain.

Lead Applicants can submit Concept Notes on behalf of their consortium by creating organisational profile on the website and filling a web-based form.

Udoy does not offer any direct assistance to applicants in developing their Concept Notes and Full Proposals. However, if you have any specific queries, you can write to our team at info.cmif@bmmdp.org. 

Yes, each lead organisation may submit up to three (03) Concept Notes in a particular call-for-proposal window if they have multiple projects they wish to propose.

Consortium type organisations can participate in multiple proposals being submitted under a particular call-for-proposal, provided they have the resources and capacity to implement multiple projects.

Yes. If you believe your idea meets the Udoy criteria, we are happy to receive your application for an innovation project.

We will send a letter to each applicant, advising them of the final decision by the Investment Committee.

No. The Investment Committee’s decision is final. There is no right of appeal.

No. Payments will be made according to an agreed-upon schedule as per the agreements signed with the grantees. Payments will be released when the project meets each pre-agreed milestone, based on verification of milestone and expenditure.

No, Udoy will not be involved in direct implementation and management of any project. It will have an oversight role to ensure that the selected projects are moving towards its intended goals.

Grant recipients will be expected to comply with various reporting requirements, to be mutually agreed during contract negotiation stage.

Grantees must maintain separate project accounts for the purpose of the projects supported by Udoy; BMMDP reserves the right to appoint external auditors to verify the contributions made by grantees and their co-partners at end of each milestone agreed within in the agreement.

No, you will not.

Udoy provides matching grants for the innovation projects of qualifying Grant Applicants, rather than finance any of the needs of the Grant Applicant’s organization. Udoy seeks only the achievement of the defined social impact and not any financial return for its investment. Udoy is not an equity or venture capital investor and will not buy shares in a company or a project. Nor will it wish to share in the profits of successful projects. Udoy is also not a bank and does not provide loans or other kinds of debt financing. The funding provided is grant money, and there is no interest or other charges attached to the money provided by the fund.

If you are unsure of your eligibility to apply to Udoy, please write to BMMDP at info.cmif@bmmdp.org for clarification and guidance.