Last date : On goingFunders around the world are worried about the humanitarian problems in developing countries. Non-profit organizations, social enterprises, for-profit firms, researchers and government agencies around the world who have best approaches to solve any major development problem in low-or middle-income countries are invited to apply for the Global Innovation Fund.
The Global Innovation Fund invests in social innovations that aim to improve the lives and opportunities of millions of people in the developing world. The Fund encourages Solutions that can scale up commercially, through the public/philanthropic sector, or through a combination of both in order to achieve widespread adoption.
The Global Innovation Fund offers financing from £30,000 to £10 million, with the largest funding amounts reserved for innovations that can demonstrate evidence of success and that have potential to spread across multiple developing countries.
- Initial Application – Send a summary business plan or project proposal, coupled with an explanation of how the innovation creates social impact. Include – organization’s mission, team, problem being addressed, solution, funding/business model, growth strategy, key risks and the planned uses of the funding requested along with an approach for tracking results and social impact.
- Notification of Selection – Promising applicants will be invited to submit full application.
- Full Application – This application requires a more detailed description of the applicant’s innovation and plan, team composition, and supporting research/evidence with quantitative estimates along with detailed budgetary projections and financial plans.
- Grant Agreement – Once an application has been conditionally approved through GIF’s review process, GIF will negotiate a funding agreement with the applicant.
- What is the problem or global development challenge the innovation addresses.
- How he innovation will address the problem.
- How the approach is better than current ways of solving the problem.
- If applicable, describe the business model that will be used to commercialize the innovation.
- How the fund provided by GIF will be used.