9 Oct, 2019

UNICEF Innovation Seeks to Invest In Blockchain StartUps

The newly introduced United Nations Children’s Fund (UNICEF) Innovation (Venture) Fund has called for blockchain-enabled startups to streamline technology for benefit of underprivileged children.

According to the announcement, the Fund will provide seed funding ranging from $50- $90,000 in equity-free seed funding. The money is intended for prototype testing and validation, and to get it to a stage where the company has proof that the solution works.

The Fund says they are looking for “Use of smart contracts to replicate and improve on existing organizational mechanisms
efficiencies, transparencies, and accountabilities in contractual engagements (i.e. multi-sig contracts that guarantee certain actors were involved), transparency in distribution of resources,
interactions across groups.”

UNICEF Innovation is looking to explore three benefits by integrating blockchain that are listed below:

  1. new ways of donating money
  2.  creating better transparency in internal processes,
  3. potentially addressing certain development issues like payments of partners of frontline workers.

Apart from providing equity-free seed funding, UNICEF Ventures team will also provide technical assistance to help validate and improve their solutions to these selected start up companies.

Companies will not feel short-changed as Ventures team also has their own dedicated blockchain lead and computer science team hosting and sharing data platforms, and with access to corporate partnerships and use cases that selected blockchain start-ups can benefit from.