IPDC wins Bangladesh Innovation Award

IPDC Finance Limited won Bangladesh Innovation Awards 2021 for its project ORJON—Southeast Asia’s First Blockchain Based Supply Chain Finance Platform, says a press release.

The grand virtual ceremony of the 3rd Bangladesh Innovation Award, in association with Energypac Power Generations Ltd, Supported by Guardian Life Insurance Ltd took place on Sunday.

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.

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.

Managing Director and CEO of IPDC Mominul Islam said, “Thriving with innovation and keeping in mind the socio-economic opportunities of the country in the next ten years, IPDC introduced ORJON and helped the unbanked sector of the economy at low-cost, collateral-free financing against their needs and enable collaboration which undoubtedly is the biggest innovation,” the media release added.