Global Innovation Fund
Overview
The Global Innovation Fund is a non-profit, impact-first investment fund headquartered in London with offices in Washington, D.C. and Nairobi. They invest in the development, rigorous testing, and scaling up of new products, services, business process, or policy reforms that are more cost-effective than current practice and targeted at improving the lives of the world's poorest people.To date, these partners have pledged over £125 million over the next five years.
Through their grants and risk capital, they support these breakthrough solutions from for-profit firms, non-profit organisations, researchers, and government agencies to maximise their impact and catalyse meaningful change. Because the best ideas for solving some of the world's most critical development problems can come from anyone, anywhere, they provide an open window to receive innovative ideas and assess whether they are right for GIF investment.
The Global Innovation Fund (GIF) provides funding at 3 stages: pilot, test and scale – and is open to ideas from any sector and any country provided that the innovation targets those living on under $5, or preferably, under $2 a day.
Who can Apply?
They accept applications working in any sector in any developing country.
Any type of organisation may apply. This includes social enterprises, for-profit companies, non-profit organisations, government agencies, international organisations, and research institutions in any country. It is recommended that individual innovators, entrepreneurs, or researchers apply through an affiliated organisation.
An open application window does not mean, however, that all development projects are a good fit for GIF. They seek out innovations they believe have the greatest potential to improve the lives of millions of people living in poverty and only select those innovations which:
- Are focussed on the poor
- Are novel approaches which are not commonplace
- Can improve upon alternatives solutions
- Are backed by evidence of potential impact
- Can be widely applied in many different settings
- Have the potential to scale to reach millions of people
- Are led by strong and dynamic teams
- Are ready for investment
- Will generate new knowldege on what works
- Have a clear role for GIF
- Be sensitive to gender impacts
- Be cognisant of climate risk and opportunities
For more information on what they fund click here
Levels of Funding
NEW - GIF Growth
GIF Growth aims to fill the financing gap that high-impact companies are facing in emerging markets. Entrepreneurs in developing countries face unique challenges. Seed and angel funding is small and limited, grant capital is scarce, and the landscape for early- to mid-growth stage investors is fragmented. Capital to take highly impactful innovations to scale is even scarcer.
They offer smaller ticket sizes than traditional DFI and private equity investments, aligning with entrepreneurs’ current needs and creating a pipeline for future commercial investors.
Their goal is to deploy $100M to save and improve the lives of over 100M people in low- and middle-income countries by 2030.
GIF Growth provides long-term patient capital
Pilot (up to $230,000 USD)
- Pilot innovations are at an early stage but you have a credible plan for how it can be developed and tested in a real-world setting. The maximum they can fund per pilot is $230,000 USD.
Test & Transition (up to $2.3million USD)
- For test and transition investment your innovation has already shown promise of success at a small scale, and you have some information on your operational, social, and financial viability which you want to solidify before you scale. The maximum they can fund per intervention is $2.3 million, although the average investment size is smaller.
Scaling Up (up to $15million USD)
- For scale investment your innovation should have a clear evidence base and a credible plan for scaling to reach millions of people which is logistically, politically and financially feasible.The maximum they can fund per innovation is $15 million, although the average investment size is much smaller.
Type of Funding
They believe innovative solutions can come from many different types of organisations – whether private sector or public sector, for-profit or non-profit. To that end, GIF provides a range of financing types, including grants, loans (including convertible debt), and equity investments. They expect applicants to present a clear rationale for the type of financing for which they are applying.
If you are a non-profit and your innovation does not involve generating revenues from users or customers, a grant is likely to be most appropriate. However, they have the flexibility to provide blended finance solutions depending on your funding needs.
Recent Grants
For details of investments visit the website here and for case study examples here
For answers to FAQ's visit the website here