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Application Process
Activities:
Others The first step in applying to GIF required for all applicants is to submit an Initial Application. This includes a short online form and either a document (2-4 pages) OR a slide deck (8-12 slides e.g. in Powerpoint). Applicants are also welcome to submit a video (maximum 8 minutes) as an optional addition to the application. At this time we are only able to accept application materials in English. The initial application should be considered as a summary business plan or project proposal, coupled with an explanation of how the innovation creates social impact. The initial application should include all the key aspects of a good business plan – the organisation’s mission, the team, the problem being addressed, the solution, the funding/business model, a growth strategy, the key risks and the planned uses of the funding requested, along with an approach for tracking results and social impact. Initial applications will be reviewed by GIF staff and the most promising applicants will be invited to move on to the next phase. We will notify applicants whose initial application has passed this first step of the application process. Full Application Step 2 - Full application. After submitting an Initial Application, the most competitive applicants will be invited to provide additional information through the submission of a Full Application. This application requires a more detailed description of the applicant’s innovation and plan, team composition, and supporting research/evidence with quantitative estimates. We will also ask for detailed budgetary projections and financial plans. GIF will undertake some due diligence of the innovator’s proposal at this point. We will provide further details on the Full Application process to innovators with successful Initial Applications. Applicants may be asked to address some tailored questions based on GIF’s initial application review and may be interviewed. Each application will be reviewed by a panel composed of GIF staff and external experts with relevant expertise, and a funding decision will be made. Funding Agreement Step 3 - Funding agreement. Once an application has been conditionally approved through GIF’s review process, GIF will negotiate a funding agreement with the applicant. This part of the process will vary for different types of capital. For grants, there will be a grant agreement which may include milestones. For loans, the interest rate offered and conditions of the loan will be part of the agreement. For equity, there will be a valuation process and a termsheet.
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