Global Innovation Fund Receives $200m from Omidyar Network, Governments of Australia, Sweden, UK, US
Tuesday, October 14, 2014
The Global Innovation Fund (GIF), a UK-based nonprofit, recently announced its launch in the US city of New York. GIF plans to fund “social innovations” brought forward by nonprofit entities as well as for-profit organizations and government. GIF will consider ideas from any sector and any part of the world.
GIF has received approximately USD 200 million from its investors, which include the US Agency for International Development (AID), a government agency that provides international economic and humanitarian assistance; the Omidyar Network, a US-based investment firm; the Swedish International Development Cooperation Agency (SIDA), a unit of the Swedish Ministry for Foreign Affairs; the UK’s Department of International Development (DFID); and Australia’s Department for Foreign Affairs and Trade (DFAT).