Unicef invests in five start-ups to solve world's problems
Unicef has invested $100,000 each into five start-ups as part of its $9m (£7.2m) Innovation Fund. The initiative provides seed funding to a range of companies such as those creating affordable mobile connectivity, blockchain in childhood development, data collection in maternal care and technology to improve literacy skills. The location of the five companies include Nicaragua, Bangladesh, South Africa, Pakistan and Cambodia. Over 650 firms applied for the initial round of funding, and a second application round for funding is open until 1 January 2017.

Unicef's Innovation Fund is the first time the charitable organisation has taken to funding startups. Overall around 650 firms applied for the funding and the organisation says up to 40 companies will be funded through the scheme. A second application round for funding has opened and companies have until January 1, 2017 to apply.

"If we can prove that funding groups of people in places that people usually think of as the places with all the problems can actually help to create global solutions that's a very powerful message," Fabian said. The funding is being provided in a venture capital model that will see more support provided to the startups than just performance-based investment.

The $9m fund has includes investments from governments, private sector, academic institutions and individuals. But those investors don't expect a return; the UN says "value" will be provided by the projects helping others. Unicef will publish information about the progress of the five startups on its website to provide those funding the scheme with transparency about where their money has gone.

During the first six months of the 12-18 month scheme the five startups will be supported as they develop their businesses. "A lot of them need help with their business plans," Fabian says.

The five companies funded by Unicef

SayCel: the firm is providing a communications solution for poor and rural areas. Unicef says: "The team is working to improve the low-cost open source GSM communications suite used to run cellular networks in rural regions." The money from the fund will help it to reach new areas in Nicaragua.

mPower Social Enterprises Ltd: The firm's OpenSRP platform runs on health workers' tablets and lets them collect data around maternity and child care. "The platform aims to support health workers to improve vaccination rates among children and coverage of antenatal care services for women in Bangladesh," Unicef says.

9Needs Pvt Ltd: Using blockchain the company is developing identity and contracting systems to let South African childhood development programmes register children and provide reliable databases.

Innovations for Poverty Alleviation Lab: as part of the Information Technology University in Pakistan the organisation is telling stories over mobile phones to inform father's about maternal healthcare and help expectant mothers. Unicef says: "By using keypad numerical inputs, the caller will be able to navigate through various menus, tips, and stories, categorised according to pregnancy trimester and/or topic."

Chatterbox Dating Mobile: the company behind the app is building "software tools" that will be used in Unicef's RapidPro system to send data via basic mobile phones.