Global Innovation Fund

Charity Number: 1171353

Annual Expenditure: £8.0M

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Quick Stats

  • Annual Giving: ~£8-10 million (estimated based on recent commitments)
  • Total Committed: £95 million ($123 million USD) since 2015
  • Success Rate: Less than 10% (highly competitive)
  • Decision Time: 10 weeks for initial response; 6-9 months for full due diligence
  • Grant Range: £23,000 - £12 million ($30,000 - $15 million USD)
  • Geographic Focus: International (developing countries globally)
  • Application Windows: Quarterly (March, June, September, December)

Contact Details

Website: http://www.globalinnovation.fund/

Email: hello@globalinnovation.fund

Phone: 0207 971 1078

Address: 8 Devonshire Square, London, EC2M 4PL

Pre-Application Support: Applications submitted via online portal; investment team members contact applicants for follow-up calls if interested in learning more

Overview

The Global Innovation Fund (GIF) is a registered charity (number 1171353) and company limited by guarantee, founded in 2014 with an initial $200 million commitment from international development agencies. GIF is an impact-first investment fund that finds, funds, and scales cost-effective, evidence-based social innovations designed to improve the lives of millions of people living on less than $5 per day in developing countries. Since 2015, GIF has committed $123 million to 75 innovations across 36 low- and middle-income countries, with innovations in the portfolio expected to benefit 157 million people by 2034. Just six early investments have already created $2.8 billion in social benefits, with $945 million attributable to GIF's support. GIF uses a venture-style staged funding approach, offering grants, loans (including convertible debt), and equity investments ranging from $30,000 to $15 million. In 2023, GIF's approach mobilised $10 of additional investment from commercial and philanthropic/public sector funders for every $1 invested. In 2024, GIF launched GIF Growth, a new blended finance investment vehicle to address the “missing middle” of capital for early-stage companies. CEO Joseph Ssentongo was appointed in 2025, bringing exceptional leadership and a deep commitment to identifying and funding innovations capable of transforming lives at scale.

Funding Priorities

Grant Programs

GIF offers three stages of funding through a rolling application process with quarterly windows (March, June, September, December):

  • Pilot Stage: Up to $230,000 (£177,000) - For early-stage innovations with a credible plan for development and testing in real-world settings
  • Test and Transition Stage: Up to $2.3 million (£1.77 million) - For innovations that have shown promise at small scale and need to solidify operational, social, and financial viability before scaling (average investments are smaller than the maximum)
  • Scale Stage: Up to $15 million (£12 million) - For innovations with a clear evidence base and credible plan for scaling to reach millions of people (average investments are much smaller than the maximum)

Application Method: Online portal with rolling basis via quarterly application windows. Initial applications require a short form and max 4-page (or 12-slide) description of the innovation.

Priority Areas

Target Beneficiaries: Innovations designed to benefit people living on the equivalent of $5 per day or less, with particular interest in solutions impacting those living on less than $2 per day and other vulnerable or disadvantaged groups

Innovation Requirement: New approaches that differ from solutions already widely practiced - including new business models, policy practices, technologies, behavioural insights, or ways of delivering products and services

Evidence-Based: Innovations must be informed by evidence of what works, focusing on changes in beneficiaries' lives or “how-to” evidence on successful deployment and scaling

Scale Potential: Only funds innovations with potential to scale and benefit millions of people; approaches must be widely applicable across many developing countries

Key Sectors:

  • Public Health, Nutrition and Water
  • Social Protection
  • Agriculture
  • Energy
  • Education
  • Climate resilience and climate-smart solutions

What They Don't Fund

  • Innovations involving illegal activities or products subject to international phase-outs/bans (hazardous chemicals, ozone depleting substances, endangered wildlife)
  • Production or use of luxury goods
  • Activities involving soliciting prostitution, human trafficking, terrorist activity, prohibited drugs, gambling, and pornography
  • Innovations only applicable in a single country (unless expected to scale to a large proportion of one of the world's most populous developing countries)
  • Political candidate or party support
  • Climate maladaptation solutions
  • Ecosystem support organizations (incubators, accelerators, other innovation funds)
  • Theoretical research or purely lab-based activities not linked to specific real-world pilot or demonstration projects
  • Innovations whose primary purpose is to support the broader innovation ecosystem rather than direct beneficiary impact
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Governance and Leadership

Chief Executive Officer

Joseph Ssentongo - Appointed CEO in 2025 with Board commendation for "exceptional leadership, vision, and a deep commitment to GIF's growth and success." Previously served as Chief Operating Officer and Senior Vice President for Impact. Holds overarching responsibility for GIF's mission of identifying and funding innovations capable of transforming lives of people living on less than $5 per day.

Key Quotes:

  • On GIF Growth launch: "In launching GIF Growth, we're setting forward on an even more ambitious and bold agenda of delivering impact and transforming lives at scale."
  • On barriers to investment: “What is holding back investment in the global south... risk aversion, but also unrealistic return expectations. Our mission is therefore not just to make investments, but also to inform.”
  • On addressing the missing middle: GIF Growth is being set up “to better enable us to address that missing middle of capital” for “early-stage companies, which are not able to attract the type of concessional finances they need to scale their operations.”

Senior Leadership Team

  • Cillian Moynihan - Oversees legal and ESG teams and functions
  • Malcolm Spence - Managing Director of Public Sector team, sourcing and evaluating investments with public sector pathway to scale
  • Shailaja - Leads Grant and Analytics teams
  • Liz - Environment, Social Responsibility, and Governance Director, responsible for ESG diligence across investment pipeline and portfolio
  • Nadia - Oversees financial function including day-to-day management, financial strategy and donor reporting

Application Process and Timeline

How to Apply

  1. Initial Application: Complete online application form with general information and upload short (max 4-page or 12-slide) description of innovation via the portal at globalinnovation.fund
  2. Internal Review: Applications reviewed against GIF criteria by investment team members who will contact applicants for follow-on calls if interested
  3. Full Application: Successful initial applicants invited to submit full application including team information, budgets, and plans
  4. Due Diligence: Full applications proceed to comprehensive due diligence process
  5. Decision Panel: Panel comprised of senior leadership and external experts evaluates applications against investment criteria to approve or reject

Eligibility: Any organization can apply, including social enterprises, for-profit companies, non-profit organisations, government agencies, international organisations, and research institutions

Language: Applications must be submitted in English

Application Windows: Four times per year in March, June, September, and December

Decision Timeline

  • Initial Application Response: Within 10 weeks of submission
  • Full Due Diligence: Typically 6-9 months from receipt of full application to final decision
  • Notification: Applicants contacted directly by investment team members

Success Rates

GIF's review process is highly selective and rigorous, with less than 10% of applicants invited to submit full proposals. This indicates an extremely competitive selection process requiring strong alignment with all investment criteria.

Reapplication Policy

Applicants may submit one initial application per project. Organizations can reapply if their new submission includes significant changes from the previous application. Feedback on unsuccessful applications is provided on a case-by-case basis.

Application Success Factors

GIF's Direct Advice to Applicants

Key Lessons from GIF Leadership:

  1. Be Open to Ideas from Anywhere: GIF actively sources ideas from social entrepreneurs in Africa and South and Southeast Asia but maintains an open application window to find organisations with out-of-the-box ideas
  1. Plan for Success from Day One: Even early-stage pilots require a plausible path to scale. For private-sector investments, this means plans for expanding to new countries and regions; for public sector partners, this means government partnerships
  1. Accept Calculated Risks: "We'd rather have a few projects succeed spectacularly and positively impact millions of people than invest in less ambitious projects that rarely fail."

Common Reasons for Rejection

  1. Lack of Novelty: Proposing approaches already widely practiced in developing countries without clearly explaining how the approach differs from existing practices
  1. Insufficient Scale Potential: Focusing on localized benefits (e.g., individual scholarships, community-specific programs) without demonstrating potential to reach broader populations
  1. Incorrect Target Market: Innovation does not benefit people living on less than $5 PPP per day or targets developed countries/higher-income populations
  1. Premature Innovation: Innovation not yet ready for real-world testing or lacking evidence of consumer demand/willingness to pay

Examples of Successful Investments

Recent successful investments include:

  • Agritask: Decision-support platform for agricultural operations ($3 million investment)
  • PLACE: Non-profit hyperlocal mapping organisation ($460,000 grant)
  • Early funding for organisations pioneering innovations like SMS reminders for childhood vaccines, edutainment, and digital payments

Strategic Terminology and Language

GIF seeks “innovations that are either reaching millions of clients or on their way to doing so” and uses terminology focused on:

  • Evidence-based approaches
  • Scale potential and pathways to scale
  • Social impact and social benefits
  • Cost-effectiveness
  • Operational, social, and financial viability
  • Real-world testing and implementation

Key Takeaways for Grant Writers

  1. Scale is Critical: Demonstrate clear pathway to reaching millions of people across multiple developing countries - this is non-negotiable for GIF funding. Single-country approaches are only viable for the world's most populous developing nations.
  1. Evidence is Essential: Applications must show innovation is informed by evidence and include plans for rigorous testing. GIF expects innovations to build on what works, not experiment blindly.
  1. Innovation Must Be Genuine: Clearly articulate how your approach differs from existing widely-practiced solutions. GIF receives many applications for approaches already in common use.
  1. Target Beneficiary Alignment: Ensure innovation directly benefits people living on less than $5 per day (preferably less than $2 per day). Be explicit about how this population will benefit.
  1. Start Small, Think Big: Even pilot applications must demonstrate a credible scale plan. GIF uses staged funding, so early-stage applicants should focus on proving concept with clear next steps to broader implementation.
  1. Prepare for Long Process: With 10-week initial review and 6-9 months due diligence, factor 9-12 months minimum from application to funding. Ensure organizational runway can support this timeline.
  1. Embrace Risk and Ambition: GIF explicitly prefers “a few projects succeed spectacularly” over safer, less ambitious projects. Don't undersell transformative potential to appear more feasible.
  1. Application Windows Matter: Apply during quarterly windows (March, June, September, December) and ensure application quality given less than 10% success rate for reaching full proposal stage.

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