Global Innovation Fund invests in a wide range of solutions with the shared goal of opening up better opportunities for people living in poverty in developing countries. GIF believes that the best ideas for solving some of the world’s most critical problems can come from anyone, anywhere.
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 and risk capital, GIF support breakthrough solutions to global development challenges from social enterprises, for-profit firms, non-profit organisations, researchers, and government agencie
The Global Innovation Fund was launched on September 23, 2014 in New York City at the sidelines of the UN General Assembly. At a standing room-only event, GIF’s five financial partners announced a total funding commitment of more than $200 million.
The partners include: The Department of International Development in the UK (DFID), The United States Agency for International Development (USAID), the Omidyar Network, the Swedish International Development Cooperation Agency (Sida) and the Department for Foreign Affairs and Trade in Australia (DFAT).
Funding:
- The Global Innovation Fund offers grants, loans (including convertible debt), and equity investments ranging from GB £30,000 to £10 million. Applicants are asked to indicate their preferred capital type and amount on their application.
- For-profit institutions requesting grants must give compelling rationale on why they are requesting grants rather than risk capital such as equity or debt, such as why the innovation can be considered as a public good that benefits society.
- For GIF’s largest commercial investments, equity will only be offered on comparable terms with other investors (on a ‘pari passu’ basis).
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