Up to $15M is available from Global Innovation Fund to support projects that will improve the lives of the world’s poorest people.
Global Innovation Fund
The Global Innovation Fund is a non-profit innovation fund headquartered in London with an office in Washington D.C. that invests in the development, rigorous testing, and scaling of innovations targeted at improving the lives of the world’s poorest people.
The Global Innovation Fund invests in social innovations that aim to improve the lives and opportunities of millions of people in the developing world.
Through grants, loans (including convertible debt) and equity investments ranging from $50,000 to $15 million, the Global Innovation Fund back innovations with the potential for social impact at a large scale, whether they are new technologies, business models, policy practices, technologies or behavioural insights.
If you are a for-profit company, or have a market route to scale, it is likely more appropriate for you to apply for equity or debt. The fund may give grants to for-profit companies in the cases where there is a large social impact and there is a clear case that we are not crowding-out private capital. Additionally, we are open to providing grants to for-profit companies to fund rigorous evidence generation around the impact of your model on people living on less than $5 PPP per day.
If you are a non-profit, and have a public-sector or hybrid path to scale, a grant is likely to be most appropriate. To secure a grant, however, you need to demonstrate that your innovation has the potential to be a cost-effective way to solve the given development challenge.
The Global Innovation Fund welcomes innovations that address any major development challenge in any developing country:
- Organisation type: Anyone may apply, including social enterprises, for-profit companies, non-profit organisations, government agencies, international organisations, and researchers in any country.
- Sector: Global Innovation Fund is open to funding innovations in any sector as long as you can show that your innovation improves the lives of those living on less than $5 PPP per day, especially less than $2 PPP per day.
- Location: Global Innovation Fund is open to funding innovations implemented in developing countries.
While the fund welcomes applications from anyone, anywhere; all applications are assessed against four investment criteria though a highly selective, rigorous process:
- Innovation and Impact: The first criterion asks whether your intervention will meaningfully improve the lives of those living on less than $5 PPP per day.
- Measuring success and sharing lessons learned: Global Innovation Fund support innovators who are committed to evaluating their own success, with plans to collect data and feedback to help inform decisions. This includes operational monitoring and evaluation, as well as impact evaluation. Innovators from learning organizations that make data driven decisions are a good fit for the fund.
- Potential to Scale: The fund’s goal is to scale innovative solutions to development challenges that are backed by rigorous evidence. They will only fund innovations with the potential to scale to reach millions of people living on less than $5 PPP a day.
- Team: Global Innovation Fund look for innovators with the relevant expertise and capabilities to achieve success.We also like to see that your team has clear roles, responsibilities, and time commitments needed to be successful. Teams should be able to demonstrate strong knowledge of the problems they are addressing and what approaches are likely to work in the local environment surrounding their innovation (e.g. operational, geographical, political, or social context). It is especially important that teams demonstrate the ability to identify and respond to risks and changes that are likely to arise as growth is achieved. They also look for the team’s ability to engage effectively with partners in government, private sector, and/or community leaders as needed.
Applications open on an ongoing basis.