UNICEF Venture Fund: $100,000 Equity-Free Grants for Startups

UNICEF is dedicated to investing in groundbreaking technology solutions that have the potential to positively impact the lives of children and society at large. The UNICEF Venture Fund aims to provide early-stage funding for exceptional initiatives that support pioneering technology solutions, with a particular focus on emerging technologies such as blockchain, drones, artificial intelligence, machine learning, data science, and extended reality. By leveraging artificial intelligence and other frontier technologies, UNICEF aims to revolutionize learning experiences, offer crucial support for mental health, and guide career decisions.

Investing in Open-Source Solutions

The UNICEF Venture Fund is committed to exclusively investing in open-source solutions that can be scaled and adapted to diverse contexts and needs. The fund recognizes the immense potential of these innovative solutions in addressing the intricate and urgent challenges faced by children and youth worldwide, especially those who are vulnerable, marginalized, or excluded.

Benefits of the Fund

The The UNICEF Venture Fund provides customized access to information, education, health services, protection, and other essential resources for children and youth. In a document released by the fund, it is stated that up to US$100K in equity-free investments will be provided to seed-stage for-profit start-ups developing frontier technology solutions with a positive impact on the lives of the world's most vulnerable children and youth. Additionally, the fund offers assistance with product development and technology, access to a network of experts and partners, and opportunities to shape markets and influence policies.

Eligibility Criteria

To be eligible for funding from the UNICEF Venture Fund, companies must meet specific criteria, including:

• Registered in one of UNICEF's program countries. 

• Possess a functional prototype that demonstrates results. 

• Possess or have the capability to obtain an open-source license.

Expression of Interest Submission

Applicants must submit an Expression of Interest, which will be assessed by the UNICEF Innovation Fund team and recommended for funding to the internal board. The following mandatory requirements must be fulfilled by companies seeking funding:

- Registered as a private company.

- Registered in a UNICEF program country.

- Working on open-source technology solutions (or willing to be open source) under the appropriate licenses.

- Possessing an existing prototype of the open-source solution with promising results from initial pilots.

- Potential to positively impact the lives of the most vulnerable children.

- Generating publicly exposed real-time data that is measurable.

Application Process

The application process for the UNICEF Venture Fund is as follows:

Step I: Check Eligibility

Interested companies must first verify their eligibility for the Innovation Fund.

Step II: Submit the Application

In order to participate, companies that meet the eligibility criteria must fill out an online application on the Fund's website. The application should include the necessary information and supporting documents as specified in the form. It is crucial to understand that automatic advancement to the subsequent stages of the application process is not guaranteed. UNICEF holds the authority to modify or eliminate specific requirements at any point during the application and selection process.

Step III: Submit Request for Proposal

The Innovation Fund evaluates all applications and notifies companies of their decision. Shortlisted applicants are invited to submit a detailed proposal, known as the Request for Proposal (RFP) step.

Step IV: Demo Interview

Shortlisted companies undergo an online demo interview, which involves a 30-minute interview with the Innovation Fund team and tech experts. This step allows for a comprehensive assessment of the project's viability.

Step V: Final Result

Based on a thorough evaluation of the application, RFP, and interview, the Innovation Fund makes the final investment decision and notifies all selected companies.

The UNICEF Venture Fund presents an exceptional chance for companies to obtain early-stage funding and assistance for their innovative technology solutions that specifically target the empowerment of children and youth. UNICEF's approach involves investing in open-source solutions and harnessing the potential of emerging technologies, all with the aim of tackling the urgent challenges confronting vulnerable populations.

The application deadline for the UNICEF Innovation Fund is July 28, 2023. 

For further details on the UNICEF innovation fund, Visit here.