Global Innovation Fund Grants and Investments

Patient capital for innovations serving people in extreme poverty

The Global Innovation Fund (GIF) deploys flexible capital to social enterprises, researchers, and nonprofits whose innovations improve the lives of people living on less than $5 per day. Funded by a coalition of governments and philanthropies, GIF offers grants, convertible debt, and equity investments ranging from $50,000 to $15 million. The fund champions evidence-based scaling: it finances rigorous testing of promising ideas and backs proven solutions to expand across countries. Applicants must articulate a robust theory of change, present credible evidence of impact, and outline a path to scale through market adoption, public sector partnerships, or blended finance. Securing GIF investment demands a balance of mission-driven storytelling and disciplined business planning.

Application pathway and timeline

GIF accepts applications year-round through a two-stage process. The first step is a short online application (~3,000 characters per section) covering problem definition, solution, evidence, business model, and scaling plan. Submissions are reviewed on a rolling basis; competitive applicants are invited to submit a Full Application, which includes detailed financial models, impact measurement frameworks, due diligence documents, and references. The full diligence process—spanning interviews, site visits, and investment committee review—can take 6 to 12 months depending on complexity. Plan backwards from key milestones (pilot launches, fundraising rounds) to ensure GIF participation aligns with your timeline. Because GIF co-invests with other funders, identify potential partners early and mention them in the application.

Investment instruments and stages

GIF tailors capital instruments to the maturity of innovations:

• Pilot (Stage 1) – $50,000 to $230,000 grants to test early-stage ideas and generate proof of concept. Focus on experimental designs, rapid prototyping, and early evidence collection.
• Test and Transition (Stage 2) – $230,000 to $2.3 million in grants or risk capital to build evidence, refine business models, and strengthen operations. Emphasis on randomized controlled trials (RCTs), quasi-experimental evaluations, or large-scale pilots.
• Scaling (Stage 3) – Up to $15 million in debt, equity, or mezzanine financing for solutions with strong evidence and clear pathways to scale via government adoption, licensing, or commercial growth.

Understanding which stage fits your innovation helps craft expectations on evidence, milestones, and governance. Stage 3 applicants, for instance, should present multi-country expansion plans and robust unit economics, while Stage 1 applicants can focus on experimentation and learning agendas.

Evidence and cost-effectiveness expectations

GIF’s investment thesis centers on rigorous evidence and cost-effectiveness. Applicants should cite impact evaluations, academic studies, or high-quality monitoring data demonstrating positive outcomes. If evidence is limited, describe your plans for generating it—partnering with universities, employing RCTs, or leveraging administrative data. Quantify the cost per beneficiary and compare it to existing interventions. Use sensitivity analyses to show how costs evolve with scale. GIF often funds data collection, but you must show commitment to transparency and adaptive learning. Outline how you will share findings, publish datasets, and integrate results into product roadmaps or policy advocacy.

Crafting a compelling theory of change

Develop a clear theory of change that links inputs, activities, outputs, outcomes, and long-term impact. Map assumptions and external factors that influence success. Highlight feedback loops and iteration cycles based on user input. For example, an edtech startup might show how adaptive learning algorithms lead to improved literacy scores, which in turn drive long-term income gains. Include metrics for both social impact and business performance (customer acquisition, retention, revenue). GIF values innovations that reach women, youth, people with disabilities, and marginalized groups; incorporate disaggregated metrics and inclusive design approaches.

Business model and financial planning

Regardless of instrument, GIF expects disciplined financial planning. Present three- to five-year financial projections with assumptions on pricing, customer growth, and cost structure. Demonstrate understanding of unit economics, breakeven points, and funding gaps. Discuss revenue diversification, such as government contracts, donor subsidies, or commercial sales. If you anticipate future financing rounds, outline target investors and how GIF capital catalyzes them. Provide historical financial statements (audited if available) and comment on cash flow management. GIF’s investment committee scrutinizes governance, so include information on board composition, decision-making processes, and risk controls.

Scaling pathways

GIF evaluates whether innovations can scale sustainably through one or more pathways:

1. Commercial scaling – Growth via market demand, licensing, or franchising. Emphasize market size, competitive advantages, intellectual property, and distribution partnerships.
2. Public sector adoption – Integration into government programs. Highlight policy alignment, stakeholder relationships, and strategies for navigating procurement and regulatory processes.
3. Replication through ecosystems – Open-source tools, knowledge products, or social franchising models that enable others to adopt the solution.

Detail your chosen pathway, including milestones, partnerships, and resource requirements. Provide letters of intent or Memorandums of Understanding (MOUs) from ministries, corporations, or NGOs supporting your expansion. Outline risk mitigation strategies addressing political shifts, currency fluctuations, or supply chain disruptions.

Impact measurement and learning systems

GIF investments include co-designed impact and learning plans. Describe your data infrastructure, key performance indicators (KPIs), and feedback loops. Explain how you will collect high-quality data in low-resource settings, including training enumerators, leveraging mobile data collection, or building dashboards. Address ethical considerations—data privacy, informed consent, safeguarding vulnerable populations. GIF expects regular learning reports; propose a cadence for reflection sessions, adaptive management meetings, and dissemination of lessons to stakeholders. Consider budgeting for third-party evaluations or data audits to bolster credibility.

Tips and tricks for a successful GIF application

1. Align language with GIF criteria. Echo terms from the application (impact, evidence, cost-effectiveness, scale) to show alignment.
2. Show traction. Provide KPIs such as users reached, retention rates, cost savings, or outcome improvements.
3. Demonstrate co-funding. Mention grants or investments already secured and how GIF capital complements them.
4. Highlight leadership diversity. Showcase women and local leaders in senior roles; GIF values inclusive governance.
5. Provide user testimonials. Integrate quotes or case studies that humanize impact.
6. Address unit economics early. Explain how cost per beneficiary decreases with scale and identify thresholds for sustainability.
7. Engage evaluation partners. Include letters from universities or research firms committed to measuring outcomes.
8. Map regulatory landscape. Discuss licensing, certifications, or data compliance requirements in target countries.
9. Emphasize learning culture. Share examples of pivots informed by evidence and user feedback.
10. Prepare for diligence. Organize data rooms with financials, governance documents, and impact evidence before applying.

Avoiding common pitfalls

Applications often falter when they overpromise impact without evidence, lack clarity on business models, or underestimate the time required for government partnerships. Avoid vague scaling plans that assume rapid replication without resourcing. Do not ignore currency or political risk; present mitigation strategies. Ensure your financial model matches narrative claims—reviewers will cross-check assumptions. Finally, avoid submitting incomplete documentation; missing financial statements or references slow down diligence.

Due diligence and investment committee preparation

If shortlisted, GIF will assign an investment lead to conduct site visits, stakeholder interviews, and scenario analysis. Prepare to share governance documents, legal registrations, intellectual property agreements, and customer contracts. Expect probing questions about organizational culture, leadership transitions, and technology architecture. Rehearse presentations for the investment committee, focusing on impact, evidence, financial sustainability, and risk mitigation. Provide dashboards or visualizations that make data accessible. Be transparent about challenges and how GIF support will address them.

Post-investment expectations

GIF investments include milestone-based disbursements tied to impact and operational targets. Collaborate with your investment lead to finalize a performance management plan. Establish reporting systems for quarterly updates covering impact metrics, financial performance, and key risks. Schedule regular learning reviews to assess progress and adapt strategies. GIF may request participation in knowledge-sharing events or publications; maintain consent procedures for stories featuring beneficiaries. Plan for compliance with environmental, social, and governance (ESG) standards, including safeguarding policies and anti-corruption guidelines.

Leveraging the GIF network

Use GIF affiliation to unlock partnerships with governments, multilateral agencies, and investors. Participate in portfolio convenings, webinars, and peer learning sessions. Share progress on social media and in industry forums, acknowledging GIF support. Explore collaborations with other portfolio organizations to share data, co-create products, or expand distribution. GIF can facilitate introductions to donors like USAID, FCDO, and Sida; prepare concise partnership briefs to capitalize on these opportunities.

Self-assessment rubric

Create an internal rubric scoring impact potential, evidence strength, cost-effectiveness, financial sustainability, scaling readiness, and team capacity. Invite board members or advisors to review your application using this rubric. Identify red flags—weak unit economics, limited user validation, or governance gaps—and address them before submission. Ensure your pitch deck, financial model, and theory of change are aligned and mutually reinforcing.

Final checklist before submitting

• Finalize short application responses with clear, jargon-free language.
• Update financial statements and projections with realistic assumptions.
• Compile evidence sources (evaluations, academic papers, dashboard screenshots) for upload.
• Secure letters of support from key partners endorsing your scaling plan.
• Prepare data room with legal documents, governance policies, and safeguarding procedures.
• Submit the online form well before the deadline to avoid technical issues.

The Global Innovation Fund offers patient, evidence-driven capital for innovators tackling the world’s toughest challenges. By presenting a rigorous impact narrative, robust financial plan, and credible scaling strategy, you can position your organization for GIF investment and unlock resources to transform lives across low- and middle-income countries.