IPDC Finance Limited won the Bangladesh Innovation Awards 2021, hosted by Bangladesh Innovation Conclave.
IPDC won the award under the category of Best Innovation – Finance – NBFIs for its project ORJON, Southeast Asia's First Blockchain-Based Supply Chain Finance Platform, reads a press release.
The 3rd Bangladesh Innovation Award, in association with Energypac Power Generations Ltd, supported by Guardian Life Insurance Ltd took place at a grand virtual award ceremony on Sunday at 8 PM.
The Bangladesh Innovation Award has been conceived to recognise 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.
ORJON is a Digital Supply Chain Platform developed by IPDC in technological partnership with IBM by using blockchain technology.
It is designed and implemented by IPDC for the promotion of financial inclusion of MSMEs by providing easy access and low-cost credit in the form of Supply Chain Finance in collaboration with corporate bodies and creating the first ever ecosystem in Bangladesh for end-to-end supply chain management.
"Thriving with innovation and keeping in mind the socio-economic opportunities of Bangladesh in the next ten years, IPDC introduced the most innovative financial solution for the people of this country, ORJON," said Mominul Islam, Managing Director and CEO of IPDC.
"ORJON will help the unbanked sector of the economy with low-cost, collateral-free financing against their needs and enable collaboration, which undoubtedly is the biggest innovation," he added.