Global Innovation Fund 2022 for Organizations worldwide (Up to $ 15 million in funding)

Deadline: Rolling Basis

The Global Innovation Fund 2022 is now open for applications. The Global Innovation Fund, or GIF, is a social impact-first investment vehicle that works with mission-aligned development agencies, philanthropy, and other funders to discover and fund evidence-based innovations with the potential to positively impact the lives of millions of the world poorest people.

They have a wide range of financial instruments to assist our agencies. They help guide entrepreneurs in their journey to scale using a funded approach to funding.

GIF accepts applications on a rolling basis – their window is always open with no deadlines or rounds of funding.

Funding

GIF has a staged funding approach, where the amount of funding available is based on the level of maturity of your innovation and the proposed activities. The three tiers are:

  • Pilot – the innovation is at an early stage but you have a credible plan for how it can be developed and tested in a real-world setting. Funding of up to USD 230,000 available to test core around operational, social, and financial viability.
  • Test and transition – the innovation has already shown promise of success at a small scale, and you have some information on your operational, social, and financial viability that you want to solidify before you scale. Funding of up to USD 2.3 million is available to support further growth and to generate additional evidence on whether the market is viable and market viability, for commercial innovations.
  • Scale – the innovation has a strong evidence base and logistically credible plan for scaling up millions of people. Funding of up to USD 15 million is available to expand the reach of millions of people in the long term if successful.

Eligibility

  • Any type of organization may apply. This includes social enterprises, for-profit companies, non-profit organizations, government agencies, international organizations, and research institutions in any country.
  • It is recommended that the affiliated organization apply.
  • You can be based anywhere in the world, but the innovation must target people living on less than the equivalent of $ 5 per day (PPP) in developing countries.
  • They are especially interested in innovations that impact on people living in less than $ 2 per day (PPP) or vulnerable groups such as women and girls, the disabled, minority or indigenous groups, refugees or displaced communities, or other vulnerable populations.

Criteria

While they are open to applications in any sector in any developing country, we have definite criteria for using the application. These are described on the What We Fund website and summarized below

  1. Target market – They invest in innovations designed to bring benefits for those who live on the equivalent of $ 5 a day and we are especially interested in funding innovative solutions that impact those living on less than $ 2 a day.
  2. Innovation and Impact – Your approach must be one that is not already commonplace, and you must be able to demonstrate how you think it can improve upon alternative solutions.
  3. Evidence – They expect that innovations are informed by evidence of what works. This evidence may focus on the changes in the lives of your beneficiaries or customers or ‘how-to’ evidence on how your solution can be deployed or scaled successfully.
  4. Scale – GIF only funds innovation that has the potential to benefit millions of people.
  5. Team – They look for innovations that are backed by teams that demonstrate a deep understanding of the problems they are tackling and the context in which they are working. Applicants should demonstrate the track record and skills needed to leverage the partnerships required to succeed and navigate the challenges that come with scaling innovations.

Application

You can apply the GIF funding through a simple application form on the GIF website, but please carefully review the guidance before deciding whether to invest time in preparing the application.

Click here to apply.

For more information, visit Global Innovation Fund.

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