Prosperity Fund Korea Programme

Prosperity Fund Korea Programme
The British Embassy in Korea is inviting project proposals for funding under the Prosperity Fund Korea Programme.

Objectives
The Foreign and Commonwealth Office’s Prosperity Fund seeks to create real, measurable outcomes in support of the FCO’s policy priority to:
“Build Britain’s prosperity by increasing exports and investment, opening markets, ensuring access to resources, and promoting sustainable global growth.”

The FCO’s Prosperity Fund therefore focuses on promoting sustainable global growth to the benefit of the UK and partner countries. Projects should contribute to one or more of Fund’s three objectives:

- An open global economy is the most effective way to support development and increased prosperity. We want to encourage openness to trade and investment, discourage protectionism and strengthen the multilateral trading system.
- If we are to avoid dangerous climate change, which will undermine the conditions necessary for sustainable global economic growth, we need urgently to transform the global economy to a low carbon one. Our aim is to create the political conditions to deliver the political commitment or the necessary shift in investment.
- Low carbon policies can and should enhance energy security globally. But there will still be demand for energy from hydrocarbon sources into the medium term. We want to build support for open and effective international energy markets and by promoting the take-up of alternative energy sources and more efficient consumption of energy.

Call for Proposals - 2nd Concept Bidding Round 2011/12

The 2nd Concept Bidding Round for 2011/12 is now open for submission of proposals.

How to apply for funding
Projects proposed must strongly contribute to programme priorities for Korea. Please refer to the Prosperity Fund Programme Strategy that contains details on objectives and indicators, as well as suggestions for the areas new projects might look at.

Organisations looking to submit a bid are strongly encouraged to talk to relevant Prosperity Fund Programme team in the Embassy at an early stage to discuss whether the proposal is strategically aligned to the programme objectives and fits programme requirements.

1. Eligibility: Civil Society Organisations, International NGOs, Private Limited Companies, Consulting firms, Government Ministries, Research Organisations, Think Tanks and Universities are eligible to apply for bids.
2. Bidding process: Organisations should submit concept bid/s focussed on areas specified under the Prosperity Programme. Bidding process is run in two stages: concept and full bid. Only bids approved through the concept stage will be considered for full bids.

· Please use the relevant concept bid form/ full bidding form while submitting a bid. Prospective bidders may refer to the guidance notes on how to fill the form.
· Concept bids will be evaluated against their strategic fit to the Prosperity fund Korea programme strategy and the project design. Potential bidders are advised to study the programme strategy and consult relevant Programme Managers in the Embassy to check strategic relevance of their project purpose before submitting the concept bids.
· To improve chances of your concept bid being accepted for full bid, please ensure that your concept bid outlines impacts. We want to know what changes the project will foster; demonstrate that governments (central or local) have been consulted and are supportive else, the bid should explain how the project has sufficient buy in from the necessary stakeholders to deliver the expected outcomes.

Demonstrate that local partnerships are already established
Describe local context so that it is easy to understand the significance of the project in contributing towards a specific programme indicator mentioned in the programme strategy
Demonstrate that the project would have sustainable outcomes

· Prosperity fund bidding process is highly competitive, it is therefore necessary to make sure your project bid:

is submitted in the required template
is filled up as per the guidance
is clear, logical and comprehensive.

· Please use the below bid form and supporting guidance.

Concept Bidding form

Full bidding form

Guidance on Bidding Form

Appraisal criteria

Prosperity Fund Accountable grant agreement (Doc, 192 KB, Opens in new window)

Last date for concept bid submission is Friday, 8 June 2012.

3. Bidding Timeline:

1st bidding round

30 March 2012: Announcement of the call for bids
20 April 2012: Last date for submission of Concept bids
4 May 2012: Last date for submission of Full bids

2nd bidding round

8 June 2012: Last date for submission of Concept bids
22 June 2012: Last date for submission of Full bids

For more information, or to submit a bid, please contact our Project Manager, Jisun Lee, at: Jisun.Lee@fco.gov.uk 02 3210 5569

The completed form should be submitted to respective programme managers through email.

Note: 60% of the fund will be available for the 1st round and 40% of the fund for the 2nd round.

UK in the Republic of Korea

Prosperity Fund Korea Programme