UNICEF Innovation Fund Call for Blockchain Startups | $100K equity-free investments: UNICEF Venture Fund and Giga Call for Blockchain-based Software Solutions to Build Capacity and Empower Communities
The UNICEF Innovation Fund is looking to make up to $100K equity-free investments (in cryptocurrency) to provide early stage (seed) financing and mentoring to for-profit technology startups that have the potential to benefit humanity. If you’ve got a start-up registered in one of UNICEF’s programme countries, you can apply now.
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UNICEF Innovation Fund Call for Blockchain Startups.
The UNICEF Venture Fund, in collaboration with Giga, is looking to make up to $100K equity-free investments (in cryptocurrency) to provide early stage (seed) financing and mentoring to for-profit technology startups that have the potential to benefit humanity.
UNICEF and Giga Funding Opportunity
UNICEF Venture Fund and Giga Call for Blockchain-based Software Solutions to Build Capacity and Empower Communities
The UNICEF Venture Fund, in collaboration with Giga, is looking to make up to $100K equity-free investments (in cryptocurrency) to provide early stage (seed) financing and mentoring to for-profit technology startups that have the potential to benefit humanity.
Applicants will receive funding in cryptocurrency (bitcoin or ether) through our recently launched CryptoFund. Given the current global climate and a dramatic shift to a digital world as a result of COVID-19, open-source solutions that address critical needs for society are as important as ever.
If you have a start-up registered in one of UNICEF’s programme countries and have a working, open source blockchain prototype (or you are willing to make it open source) showing promising results, we are looking for you.
The Challenge
The COVID-19 pandemic created economic hardships and has had compounding impacts on many aspects of children’s lives. While some saw life continue online, many who couldn’t access digital services – from education, to health, to social protection and financial services – became increasingly excluded from the opportunity to thrive.
UNICEF’s Office of Innovation explores technologies, such as blockchain, with the potential to impact children and young people globally, providing them with information, opportunity and choice. In our initial blockchain explorations, the use cases we focused on were quite broad; this allowed us to better understand a variety of use cases and gain a better understanding of where the technology might be applicable in the context of UNICEF. These findings led us to refine our premise of where we believe blockchain can be useful in the context of UNICEF’s work.
Blockchain-based solutions allow us to rethink how problems are solved; the technology allows for 1) greater transparency and efficiency in systems, 2) better coordination of data across multiple parties, and 3) the possibility for greater community engagement in decision-making that is more difficult with traditional technologies or systems. The approach to achieving this is by researching and prototyping with both internal and external stakeholders.
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UNICEF’s innovation portfolio approach focuses its efforts on the most challenging problems UNICEF is trying to solve for and with children and young people, through 9 thematic portfolios. Through this call for proposals, we are seeking blockchain solutions that can address problems across a variety of portfolios including youth, climate change, learning and humanitarian portfolios. These portfolio areas are among others prioritize solutions that improve accountability on service delivery and policies; empower and actively engage young people; improve equity in access to connectivity and the digital world; and, grow and improve funding flows.
What we’re looking for.
We are currently looking to invest in companies developing blockchain-based software solutions using cryptocurrencies, smart contracts, and various types of tokens, as well as learning and training initiatives to build capacity. Examples of areas of interest include, but are not limited to:
Area 1: Improving accountability and transparency of services and payments
Blockchain technologies can create transparent, efficient systems to exchange value, track supply chains and trade commodities. We are seeking solutions that:
- Enable people, organizations and other entities to use, earn, and hold cryptocurrencies.
- Track supply chains and value flows. In particular, we are interested in solutions related to areas like connectivity, electricity, climate or other foundational infrastructure.
- Enable Blockchain Oracle Services / Frameworks / APIs to measure provider performance (especially related to measurement of internet connectivity or energy).
- Automate payments and manage contracts based on providers’ performance.
- Provide On-ramp and Off-ramp services for smooth conversion of fiat to crypto and vice versa (preferably global in presence).
- Manage and trade assets/commodities in a decentralized manner that benefits communities.
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Area 2: New financing models and rewards
By engaging with the crowd in new ways, we can build sustainable models to generate value, supporting the long-term development and delivery of services. For example, rewards could be used to incentivize communities to collect and share data that can then be used for decision making and resource allocation. We are seeking solutions that:
- Use cryptocurrencies to increase investments (I.e. staking, crowdfunding).
- Incorporate incentives to encourage value creation (I.e. crowdsourcing, badges).
- Create new economies and marketplaces (I.e. tokens).
Area 3: Empower young people to engage actively in these new systems
UNICEF supports the creation of Open Source software to ultimately enable communities with new tools. We are interested in solutions that empower local communities to engage with systems in new ways, such as those that:
- Enable communities to access financial services (digital payments, banking)
- Provide students and teachers with better learning experiences (teaching children about crypto, NFT creation by students, gamification and learning)
- Explore new ways of making decisions and participating in different ecosystems (DAOs, decentralized storage, distributing connectivity, energy or other resources to communities)
Our funding is not necessarily limited to the above. We are interested in companies that use distributed ledger tech in new, groundbreaking, ways that are scalable, and globally applicable.
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If you meet the UNICEF Venture Fund criteria, we want to hear from you.
Who can submit an Expression of Interest to the UNICEF Innovation Fund?
Projects are assessed by UNICEF Innovation Fund team and recommended for funding to the internal board. Companies need to fulfill the following mandatory requirements to be considered for funding:
- Registered 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
Please review the additional information for the Request for Expression of Interest here.
Why is the UNICEF Venture Fund making investments in only cryptocurrency?
As digital currencies see record adoption globally, the Venture Fund’s ability to hold, receive, and invest in cryptocurrency has allowed us to expand services and opportunities for people around the world. It has also opened doors for companies in emerging markets to engage with new partners and technical experts who joined due to the CryptoFund. Read more about our experience of using cryptocurrencies here.
I want to apply but I don’t use crypto. Can I still apply?
If you’re new to crypto, the CryptoFund supports startups with a step-by-step process for setting up wallets. Email the team at venturefund@unicef.org with the subject line “[Company Name]: Setting up a crypto wallet”.
How will Expressions of Interest be assessed?
The following criteria will be used:
- Relevance of solution for children and young people, problem-solution fit and potential for application at global scale
- Novelty of project and alignment with Innovation Principles
- Suitability of the team and key personnel to implement the project
- Project budget and financing
Please review the additional information for the Request for Expression of Interest here.
How to Apply for UNICEF Innovation Fund Call for Blockchain Startups
Step I: Check Eligibility
Interested companies are required to check the eligibility of the Innovation Fund
Step II: Submit Application
Interested companies are required to submit an online application through the Fund website. You should provide the information and supporting documents indicated in the form.
Applying to the Fund does not automatically ensure that the submitting company will be selected to participate in next stages of the application process.
UNICEF reserves the right to change or cancel the requirement at any time during the application/selection process. UNICEF also reserves the right to require compliance with additional conditions as and when the investment decision is made.
Please review the additional information for the Request for Expression of Interest here.
Step III: Submit Request for Proposal
The Innovation Fund reviews all applications and notifies companies of the decision. Shortlisted applicants are invited to submit a detailed proposal, this is called the Request for Proposal (RFP) step.
Step IV: Demo Interview
After a careful review, companies shortlisted at the RFP step are invested for an online demo interview. This is usually a 30 min interview the with Innovation Fund team and experts from our tech teams.
Step V: Final Result
Based on a complete assessment of the application, RFP and interview, the Innovation Fund makes the final investment decision and notifies all selected companies.
Where can I submit any other questions I have about the REOI?
If you have any additional question about this REOI, please submit questions through the Contact Us form. Answers to all questions submitted will be shared publicly.
Can I submit an expression of interest from anywhere in the world?
UNICEF Innovation Fund only accepts submissions from companies registered in UNICEF programme countries. See the list of countries here.
What kind of ideas / companies will the Innovation Fund support?
i) Project is developing new technology
ii) Project is expanding/improving 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)