Deadline: Rolling Base
this 2022 Global Innovation Fund Applications are now open. The Global Innovation Fund (GIF) is a social impact-first investment vehicle that works with mission-aligned development agencies, charities and other funders to find and fund evidence-based innovations that have the potential to positively impact the lives of millions of the world’s poorest people.
They play a unique role alongside existing development aid by taking sensible risks that public agencies cannot use a range of financial instruments to achieve our mission. They help guide entrepreneurs through their journey to scale using a VC-style staged funding approach in which more speculative ideas receive less support and funding is increased after successful testing and proof points are achieved.
GIF accepts applications on a rolling basis – their window is always open and there are no deadlines or funding rounds.
GIF uses a staged funding approach, with the amount of available funding graded based on your innovation maturity and proposed activity. The three levels are:
- pilot – It’s still early days for innovation, but you have a solid plan to develop and test it in a real-world environment. Funding up to $230,000 is available to test core assumptions around operational, social and financial viability.
- test and transition – Innovation has shown promise of success on a small scale, and you have some information about your operational, social and financial viability that you want to consolidate before scaling up. Funding of up to $2.3 million is available to support further growth and provide more evidence on whether innovation can deliver social impact and market viability for business innovation.
- scale – The innovation has a strong evidence base and a solid logistical plan to scale to millions of people. Funding of up to $15 million can be used to expand the scope of innovation with the goal of benefiting millions over the long term if successful.
- Any type of organization can apply. This includes social enterprises, for-profit companies, non-profit organizations, government agencies, international organizations and research institutes in any country.
- Individual innovators, entrepreneurs or researchers are advised to apply through an affiliated organization.
- You can work anywhere in the world, but innovation must target people living on less than $5 a day (PPP) in developing countries.
- They are particularly interested in innovations that affect people living on less than $2 a day (PPP) or vulnerable groups such as women and girls, persons with disabilities, minority or indigenous groups, refugee or displaced communities or other vulnerable groups.
While they are open to applications from any sector in any developing country, we have precise criteria to assess the suitability of your application.These are described in our funded projects on our website and summarized below
- Targeted market – They invest in innovations designed to benefit people living on the equivalent of $5 a day, and we are particularly interested in funding innovative solutions to impact those living on less than $2 a day or other vulnerable or disadvantaged groups.
- Innovation and Impact—— Your approach has to be a new approach, it’s not very common yet, and you have to be able to demonstrate how you think it can improve alternative solutions.
- evidence – They expect innovation to be achieved through valid evidence. This evidence may focus on changes in the lives of beneficiaries or clients, or “how-to” evidence on how to successfully deploy or scale a solution.
- scale – GIFs only fund innovations that have the potential to benefit millions of people.
- Team – They look for innovations supported by teams that demonstrate a deep understanding of the problem they are solving and the environment in which they work. Applicants should demonstrate the track record and skills required to leverage the partnerships required for success and address the challenges posed by innovation at scale.
You can apply for GIF funding through the simple application form on the GIF website, but please read the guidelines carefully before deciding whether to take the time to prepare your application.
For more information, please visit Global Innovation Fund.