The UNICEF Venture Fund seeks to make equity-free investments of up to $100,000 in for-profit start-ups developing frontier technology solutions that can positively influence the lives of the world’s most disadvantaged children and youth.
The UNICEF Innovation Fund team evaluates projects and recommends financing to the internal board. Companies must meet the following necessary standards in order to be considered for funding:
- egistered as a private company
- Registered in a UNICEF programme country (see list here)
- Working on open source technology solutions (or willing to be open source) under the following licenses or their equivalent:
- (i) for software, a BSD license,
- (ii) for hardware, a CERN license and
- (iii) a CC-BY license for design or content, a CC-BY license
- An existing prototype of the open source solution with promising results from initial pilots
- Solution has the potential to positively impact the lives of the most vulnerable children
- Generating publicly exposed real-time data that is measurable
Kind of Ideas/Companies Supported
i) Project is developing new technology
ii) Project is expanding/improving existing existing technology/ platform (i.e. it will be in a place where the technology is being used but will involve new tech being built)
iii) Project is a new application/ piloting new use case for existing technology (i.e little or no new technology will be built and it will be used in the same place)
Based on their individual needs assessment, all companies in the portfolio receive specialized support for product development, business model development, and user testing. Startups also have access to the UNICEF Ventures team’s tech skills, networks, and platforms, which will assist them in reaching the stage when they can demonstrate the efficacy of their solutions and tap into larger funding sources.
A network of mentors assists startup teams in developing their business model and strategy around open source technologies in order to expand their firm and profit.
DEVELOPMENT OF PRODUCTS
In addition to financial support, businesses and UNICEF Country Offices receive technical assistance and specialized expert mentors from the UNICEF Ventures team to help validate and develop their solutions. Connections with partners bring essential product development experience.
THE UNICEF NETWORK
Startups can take use of UNICEF Ventures’ dedicated Data Science team, which hosts and shares data platforms such as RapidPro and Magic Box, gain access to unique testing environments such as drone corridors and country office programs, and seek potential follow-on funding from corporate partners. For More Information: Visit the Official Webpage of the 2023 UNICEF Innovation Funding Opportunity for frontier tech solutions Application Deadline: 11:59 PM (CET), 28 July 2023