In 2012, USAID and the Skoll Foundation partnered to launch the USAID-Skoll Innovation Investment Alliance, to influence systems-level change by supporting proven, transformative, and innovative organizations to reach scale. Inspired by venture capital models, Development Innovation Ventures’ (DIV) at USAID invests in game-changing innovations in development with the power to change millions of lives at a fraction of the usual cost. DIV has made 20 investments to date, to world class innovators in health, energy, governance and food security. The Skoll Foundation drives large scale change by investing in, connecting and celebrating social entrepreneurs and the innovators who help them solve the world’s most pressing problems. Skoll has identified and cultivated the world’s most effective social entrepreneurs in areas from education and employment to food security and healthcare.
In this alliance, Skoll and USAID will identify and fund high-impact social entrepreneurs who have demonstrated innovations and sustainable business models ripe for scale – and maximum impact. The alliance will deliver evidence of impact, thereby encouraging increased public and private investment in scaling the most promising innovations. With the support of Mercy Corps, the Innovation Investment Alliance will invest in up to ten organizations across a range of sectors and geographies by providing grants, and other forms of financing. The Innovation Investment Alliance will measure, analyze, and share findings from partners to influence broader change within communities aiming to solve pressing global challenges.
The Alliance has committed to investing $44.5 million in order to scale up ten social ventures over the next five years. Organizations are selected for funding directly from the pool of U.S. Global Development Lab or Skoll Social Entrepreneur award winners.
|Value||USD 45 Million|