Both independent researchers and research teams comprised of entities from the public sector, private sector, universities, or research centers may apply. Applicants must meet the following requirements: be a citizen of one of the 48 IDB member countries and not have family members who currently work at the Inter-American Development Bank or IDB Invest (jointly, "IDB Group") (to the fourth degree of consanguinity and second degree of affinity, including husband or wife).

Participation of IDB Group specialists in the research teams is encouraged. It should be noted that while the specialists may collaborate on the project, they will not be eligible to receive compensation for their contribution. The funds will be given exclusively to the research team members who are not part of the IDB Group.