UNICEF Venture Fund - Funding Femtech

UNICEF Venture Fund - Funding Femtech is sponsored by UNICEF Office of Innovation. The UNICEF Venture Fund offers equity-free funding to early-stage, for-profit startups leveraging frontier technologies such as AI, data science, and blockchain for social impact.

We invest in early-stage frontier tech solutions from emerging markets that can benefit children and youth investments in emerging economies funded startups with female founders DPGs or DPG-based solutions Afinidata: Providing access to quality early childhood education Thinking Machines: Mapping hard-to-reach areas and connecting communities to resources Thinking Machines, Philippines Pixframe Studios: Game-based learning to assess skills and tailor educational content Somleng: Low-cost interactive voice response system for communities with low literacy levels No. of unique beneficiary contribution to open source Up to 100,000 in seed funding and up to 400,000 in growth funding in USD and/or cryptocurrency.

The Venture Fund invests up to 100,000 in USD and/or cryptocurrency in early-stage, open-source, frontier tech solutions in underserved markets to validate, test, and shape technology that can potentially address large-scale challenges for children. Solutions that graduate seed-stage funding and are selected for growth funding can get up to 400,000 in USD and/or cryptocurrency to scale their impact.

Tailored mentorship for the solution's requirements The Fund provides tailored one-on-one mentoring with our in-house technical experts based on the solution’s unique needs. This takes place throughout the investment period and focuses on topics such as value proposition, Open Source development, evidence of impact, business strategy, product design, and diversity, equity, and inclusion.

Access to UNICEF network and partners Startups can leverage our unique testing environments and pilot opportunities in UNICEF country offices. We also provide access to our corporate partners for potential follow-on funding.

We invest in local, on the ground problem solvers We are committed to creating impact by investing in companies working in emerging tech markets Month 0 Companies interested in applying to the Venture Fund need to check the eligibility criteria click to open accordion Who can submit an Expression of Interest and what are the eligibility criteria?

Projects are assessed by UNICEF Venture Fund team and recommended for funding to the internal board. Companies need to fulfill the following mandatory requirements to be considered for funding: Be registered as a private for-profit company Be registered in a UNICEF programme country. See the list of eligible countries here .

Have an existing prototype of the Open Source solution with promising results from initial pilots Have the potential to positively impact the lives of the most vulnerable children. Generate publicly exposed real-time data that is measurable. Be working on a Open Source* frontier technology solution.

*Open source software is software that can be freely used, modified, and shared (in both modified and unmodified form) by anyone. For a comprehensive definition, see the Open Source Initiative's Definition . If your solution isn't already Open Source when you apply, we expect it to be made available as such.

We recommend the following licenses: Software: Choose from the Open Source Initiative approved licenses , such as one of the GNU public licenses, BSD license, or MIT license. Hardware: CERN, MIT, or TAPR licenses. Design or Content: CC-BY license.

click to open accordion What kind of ideas and companies will the Venture Fund support? The UNICEF Venture Fund is looking for: Solutions developing new technology Solutions expanding/improving existing technologies and platforms (i.e. it will be in a place where the technology is being used but will involve new tech being built) Solution is a new application or is piloting a new use case for an existing technology (i.

e little or no new technology will be built and it will be used in the same place). click to open accordion Do all components of the technology used or proposed to be developed need to be Open Source? Can projects that use a combination of technology products - some Open Source and some closed licenses - qualify to receive funds from the Venture Fund?

To qualify for our investment, the solution you aim to get funded by us has to be Open Source or you need to indicate you are willing to place it on an open Open Source license. We don’t require your whole company or all the technologies you develop to be Open Source, but if your solution you submitted receives our investment, it has to have an Open Source license by month six of our investment period (one year).

The UNICEF team has Open Source mentorship that can help the startups in choosing the most appropriate Open Source license. Please note that solutions that meet all the criteria and are entirely Open Source (from end-to-end; server to app; hardware to software etc.) will be given priority in the selection process. If there is a specific product, such as control software for a rover - that is Open Source, it will meet the criteria.

If this product connects to a larger ecosystem that is fully Open Source, then that is the best possible scenario. If it connects to proprietary hardware, the assessment will look at how independent the Open Source component is. i.e. what kind of applicability it could have if applied to other scenarios.

If the dependencies are too great on a single and proprietary hardware element, it will get less traction. For example, U-Report is a full (server-to-app) Open Source environment. It runs on ‘proprietary’ hardware (i.e. mobile phones), but it runs on any phone because it uses SMS.

In this case, a market assessment and tech evaluation were done, and a merging of proprietary and Open Source tools still made the global application possible. The same could be true for UAV software (i.e. image analysis): the Venture Fund could invest in a piece of software created that could work on images from any drone.

The hardware would still be proprietary, but the tool we are investing in (and that we will put in the public domain) is open. The same applies to a mobile app. If an Open Source app connects only to a proprietary server-side backend then the app would not qualify for investment.

We wouldn’t be able to reuse it. In this case, the investment can be only for very specific Open Source pieces of code and environment. This is more likely to be successful than a bundle, as we can assess their viability easily.

click to open accordion Can a university submit an expression of interest for the fund? No. Only private companies are eligible. click to open accordion Do I have to have a degree or a university qualification to qualify?

No, team members don't need to have a degree or specific qualification. UNICEF Venture Fund will assess the suitability of the team and key personnel to implement the solution. The team members’ formation and experience in similar projects will be an asset for the Expression Of Interest.

click to open accordion If I am a student, can I submit an Expression Of Interest for funding for a school/university project? Individuals cannot submit Expressions Of Interest. The entity submitting an expression of interest needs to be a private company legally registered.

click to open accordion If I am a non-profit organization or NGO can I submit an Expression Of Interest tothe fund? NGOs or CSOs are not eligible to submit an expression of interest for funding through this investment vehicle. If you are a NGO or CSO working on a great prototype, we suggest you to approach UNICEF country office in your country to learn about other funding and partnership opportunities available.

click to open accordion If my company is situated in a country that is not included in the UNICEF Programme Countries list, am I still eligible to submit an Expression Of Interest? The company that submits the expression of interest needs to be registered in a UNICEF Programme Country .

If the company is partnered with one or more companies in the country (ies) where the product or service will be used, it is recommended that the expression of interest be submitted by the partner company registered in the UNICEF Programme Country.

If the funding is awarded, the partner company registered in the UNICEF Programme Country will enter into a contractual agreement with UNICEF and will be accountable for all the contractual responsibilities with UNICEF. click to open accordion Is it possible for NGOs to apply in collaboration with companies? In this case the company should be the entity submitting the REOI .

The companies submitting the REOI are asked to list partners and advisors and it is possible to list an NGO as partner. UNICEF will issue Institutional Corporate Contracts to the successful applicants and it is the company that bears all the contractual responsibilities vis-a-vis UNICEF. click to open accordion What does it mean to have a "working prototype"?

Should the whole solution be ready at the moment of application? You are eligible to apply when you have an active prototype. We consider an active prototype the one that works and has generated some initial data to confirm this.

You can expand or improve the prototype on the basis of data generated during the investment period. click to open accordion Is there a maximum or minimum number of team members working on the project? No, there is not a maximum or minimum.

click to open accordion Can I outsource the technical expertise in my venture? Yes, but if the core team does not have the necessary technical expertise, the company should explain in their expression of interest in the relevant questions what type of technical expertise their partners or advisors are able to provide. click to open accordion Why does each company need to provide real-time data about its project?

To be eligible for funding, companies should be generating real-time data that is publicly accessible and can be measured. If real-time data is not currently being collected, the application will be evaluated based on the proposed plan to set up, collect, display, and analyze such data during the project's implementation. This plan must be clearly stated in the Expression of Interest.

If the funding request involves the development of new technology, real-time data will be required to track the progress of the project. If the project seeks support for the application or piloting of a solution, the real-time data should demonstrate progress in that area. This data will help share the company's progress and experiences with UNICEF and other companies working in similar fields.

The data will be displayed on a publicly accessible real-time reporting website, showcasing the Fund's performance, each portfolio's status, and information about each company or project that has received investment. The website will also present stories about each project. click to open accordion My project is currently not Open Source but I’m willing to Open Source it.

What do I need to do to be able to be considered for funding? In the Expression of Interest form, the company will be asked about the licensing of the technology. We invest in Open Source technology solutions - or willing to be.

Open License means the following terms or their equivalent as specified in the Project Design Statement and Budget: For software , one of the Open Source Initiative approved licenses, like a GNU general public license, a BSD license or an MIT license, For hardware , a CERN license, MIT license or TAPR license and for design or content, a CC-BY license. You can provide a timeline for going Open Source.

It is recommended that you supply as much information as possible to motivate how your idea will be Open Source. Month 1 Companies interested should complete an online application via the Venture Fund website. The application form must include all required information and supporting documents as indicated Expression of interest faqs click to open accordion Once a company is selected, what information are we required to share?

The company will need to provide some type of real-time data that can be accessed through Internet. The companies selected for funding will sign an institutional contract with UNICEF. The contract will be subject to the same UNICEF terms and conditions that will be detailed in the RFP, which includes requirements related to open source licensing of the solution.

click to open accordion What return does the fund look for from the investments it has made? The UNICEF Venture Fund does not seek a financial return nor does it take equity - the Open Source code or hardware the company develops and tests is UNICEF’s “equity”. click to open accordion How do I determine if my venture is in the startup phase?

In the initial phase of your project, you are considered to be in the startup stage when you have a working prototype. At this point, you require a small amount of money to demonstrate its functionality to others. Perhaps you need to hire a couple of additional developers or seek design assistance to effectively convey the capabilities of your project.

You might also need server space or refactor some parts into a different programming language to ensure scalability. Conducting tests in new areas and collecting data points are also essential. While these investments are not substantial, the Innovation Fund can provide assistance to expedite your progress.

click to open accordion Can a firm submit multiple proposals? An eligible company can submit more than one expression of interest for different projects. Each will be assessed independently based on the criteria.

The funding cap will be applied to each application. click to open accordion Where can I submit any other questions I have about the REOI? If you have any additional question about this REO I , please submit questions through the Contact Us form.

Answers to all questions submitted will be shared publicly. click to open accordion Can I submit an expression of interest from anywhere in the world? UNICEF Venture Fund only accepts submissions from companies registered in UNICEF programme countries.

See the list of countries here. click to open accordion How can we remain financially sustainable and make a profit with an Open Source solution? There are a number of sustainable business models built around Open Source solutions.

Open Source licenses do not necessarily compromise the sustainability of your business. If you are willing to Open Source your technology, you can still apply and indicate this in the submission. Month 2-3 The Venture Fund carefully assesses all applications.

Shortlisted companies will then be notified and invited to submit a comprehensive proposal called the Request for Proposal (RFP) Request for proposal faqs click to open accordion Once a company is selected, what information are we required to share? The company will need to provide some type of real-time data that can be accessed through Internet. The companies selected for funding will sign an institutional contract with UNICEF.

The contract will be subject to the same UNICEF terms and conditions that will be detailed in the RFP, which includes requirements related to open source licensing of the solution. click to open accordion What return does the fund look for from the investments it has made?

The UNICEF Venture Fund does not seek a financial return nor does it take equity - the Open Source code or hardware the company develops and tests is UNICEF’s “equity”. Month 4-5 Following a careful evaluation of the RFP, companies selected will be invited to an online demo interview.

This 30-minute interview offers the opportunity to interact with the Venture Fund team and experts from our frontier technology teams announcement of investees Month 6 Upon evaluating the application, RFP, and demo interview, the Venture Fund finalizes the investment decision and notifies selected companies. Onboarding begins, and an official announcement is made on public channels.

Announcement of investees faqs click to open accordion Once a company is selected, what information are we required to share? The company will need to provide some type of real-time data that can be accessed through Internet. The companies selected for funding will sign an institutional contract with UNICEF.

The contract will be subject to the same UNICEF terms and conditions that will be detailed in the RFP, which includes requirements related to open source licensing of the solution. click to open accordion What return does the fund look for from the investments it has made?

The UNICEF Venture Fund does not seek a financial return nor does it take equity - the Open Source code or hardware the company develops and tests is UNICEF’s “equity”. click to open accordion How will I know if I have been accepted for funding? Selected companies will be contacted with information about the outcome and next steps.

click to open accordion If the company receives funding, does UNICEF own the product or idea? The funding from UNICEF Venture Fund is equity free. The company will be requested to Open Source the IP of the product or idea funded and will be the Open Source license holder.

In addition, the real-time data collected will be shared publicly. The company will own all other intellectual property. click to open accordion If my company gets selected for funding, what is the company’s legal status vis-a-vis UNICEF?

UNICEF will issue Institutional Corporate Contracts to the successful applicants. The participating entity - a private company- needs to be legal entities, meaning registered companies in order for UNICEF to have a contractual relationship with them. The companies that are selected for funding will need to register as a vendor/supplier with UNICEF.

Who can apply for growth-stage Funding? We only invest in growth-stage startups who have completed an early-stage investment period with the Venture Fund. We review, select, and invite high-performing graduates from our existing portfolio to apply for growth-stage funding and support.

Month 0 Growth-stage candidates must have completed Early-Stage investment period with the Venture Fund to be eligible for Growth Funding. Month 1 The Venture Fund team specifically invites thriving startups to seek growth-stage funding and submit an Expression of Interest (EOI). Month 2-3 Companies are shortlisted based on their Expressions of Interest and asked to submit a Request for Proposal to be considered for Growth-funding.

Selection & announcement of investees Month 4 The Venture Fund selection panel evaluate and select the companies that meet the established criteria. Selected companies are notified and the onboarding process starts, accompanied by an official announcement shared in public channels. our contribution to open source We exclusively invest in open source solutions to collectively build Digital Public Goods that can benefit each individual