Sustainability bond with impact-linked return (SBIR) is an innovative funding model to unlock social impact investing which advances the potential to drive public sector change and to attract a broader range of investors, while also financing social infrastructure. The overall goal is to expand investor base for impact investing and build public sector capacity to tackle various social challenges.
Innovation Tag: Procurement/Acquisitions
MTender system is a modern networking multi-platform eProcurement system that comprises a Central Database Unit and a number of networking commercial eProcurement platforms connected to the Central Database Unit. MTender was designed to ensure interoperability with existing and future e-Government services, national registers and to provide end-to-end online workflows for all public procurement methods.
Over a third of U.S. federal employees are eligible to retire in the next five years, yet only 6% of employees are under 30—a pressing issue given the rate of innovation. Piloted as an effort between agencies and a student-led nonprofit, the Civic Digital Fellowship recruits the next generation of technologists—students and recent grads—pairing them with in-need agencies. It has scaled to six agencies, and is an attractive on-ramp for technical students into public service.
ProZorro is a hybrid electronic government e-procurement system created as the result of a partnership between business, government and the civil society in Ukraine. Innovative public procurement system delivering government services in a stakeholder-focused, transparent, fair and low-cost way. In two years of operation of ProZorro saved $1.9 billion of budget funds and became a leader in openess of goverment data on public procurement.
The Price Bank enables public procurement parties to have points of reference for price quotes for particular products, as it is a database of electronic invoices issues in Brazil. Participants narrow their search via descriptors and filters to find the right quote.
CivTech is the Scottish Government’s challenge programme for innovation. The programme pioneers a smarter, faster approach to public procurement to harness entrepreneurial tech innovation and citizen engagement, improving public service delivery, creating economic development opportunities and fostering an entrepreneurial mindset within government.
Government of West Bengal provided 7.0 million bicycles to students of class IX to XII standard in Government run and aided schools as mobility support under “Sabooj Sathi” scheme – a pioneering initiative towards universal access to higher education.