International Organisation Offers $15m for Agric Solutions
Global Innovation Fund (GIF), an international organisation is ready to offer innovators in Nigeria and in other developing countries up to $15 million that can provide innovative and cost-effective solutions that address major development challenges areas such as agriculture, fisheries, energy and water access.
GIF is a non-profit innovation fund organization headquartered in London with an office in Washington Dc. that invests in the development, rigorous testing and scaling of innovations targeted at improving the lives of the poorest people in developing countries.
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The organization said it is open to teams and coalitions from social enterprises, for-profit firms, and nonprofit organisations (NGOs), government agencies, international organisations, and researchers anywhere in the world.
According to GIF, their grants, loans, and equity investments range from $50,000 to $15 million and applicants are expected to propose the level and type of funding that is appropriate for their innovation, based on the stage of development.
The Chief Executive of GIF, Alix Peterson Zwane, revealed that since 2015, the fund has invested nearly $100million in innovations with the potential for outsized social impact to improve the lives of the world’s poorest people.
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According to him, some of the fund’s earliest investments are delivering transformative impact across the developing world such as One Acre Fund, DMI, Paga, and SafeBoda, which have generated an estimated $534million in net social value since GIF invested in them and continue to generate additional social value today in their various sectors.
He added that, “Innovation is playing a central role in the global response to the COVID-19 pandemic and will be central to the economic and social recovery to follow. At GIF, we are proud to be supporting innovators whose bold solutions have the potential to solve big global development challenges.”
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