Great innovations are the seeds of startups that potentially elevate and improve the community that they are planted in. However, for these startups and ideas to reach this potential, they need to be backed up by a strong stem of funds for their company to bloom.
That’s why Geeks in Cambodia kick started this Friday FUNDay series to highlight various funding opportunities that can help your innovation reach new heights.
To start off our series with a bang, we have the Global Innovation Fund (GIF), a non-profit innovation fund with headquarters in London that believes in transforming ideas into impact.
GIF invests in social innovations with the objective of improving the lives of millions living in poverty in developing countries. The fund realizes different types of investments such as grants and risk capital. It can support any kind of companies including social enterprises, profit companies, NGOs, non-profit organizations or government agencies.
There are also no constraints in terms of the location or sector you are in. GIF supports a wide range of actions – all of them share the goal to make a better world for the most needy persons. Since its launch, the fund has invested in different activities such as clean energy, better nutrition or aquaculture. You can find their investment portfolio here.
The fund supports entities on different stages of development, including:
Pilot: The objective of this stage is to refine the model and establish the viability of an innovation at a small scale by field testing. The investment is up to $230,000 USD.
Test & Transition: The objective of this stage is to help innovators who have proved the viability of their model at a small scale. GIF will give them the ability to continue their growth and to refine some aspects of their model or operational process. The investment is up to $2.3million USD.
Scaling up: For this stage, the fund will support entities with a proven record of social impact and effectiveness at a small scale. The goal here will be to help the innovators to scale up their idea. The investment is up to $15million USD.
If you propose an innovative solution that addresses any major development challenge in Cambodia, and think you’ve got what it takes, definitely apply now! For more information on application details, please visit their website.
See you next week for a new article of Friday FUNDay!