[ad_1]<div _ngcontent-c14 = "" innerhtml = "
Credit AFP / Getty ImagesAFP / Getty Images
The United Nations International Emergency Fund for Children (UNICEF) will invest in six blockchain projects in emerging markets through its Innovation Fund. Each project will receive up to $ 100,000 to develop an open source prototype over the next year.
The $ 17.9 million investment fund is part of the UNICEF Office of Innovation, which focuses on frontier technologies such as data science, machine learning, drones and now, the blockchain. So far, he has invested in 33 startups in 23 countries.
"It works just like a VC fund," said chief adviser Chris Fabian Forbes"Except we are investing exclusively in companies in emerging markets, companies that have a bit of human good in them, and companies that are open source and that can be combined with each other during the investment period ".
Blockchain is not new to UNICEF (the organization already has an in-house technology exploration team, and made its first blockchain investment in a South African startup in 2016), but these investments include the first initial cohort of the fund's blockchain company.
And even if the blockchain is still in its infancy, Fabian says the goal is to explore the potential of technology, both in new companies in emerging markets and in the context of its operations of UNICEF. UNICEF buys billions of vaccine doses every year, for example, and Fabian imagines that blockchain can one day improve that procurement process. "We see these as provocations as the beginning of a learning journey," he says, "and as things we can eventually integrate parts of our broader work".
The six -Atix Labs projects from Argentina, Onesmart and Prescrypto from Mexico, Statwig from India, Utopixar from Tunisia and W3 Engineers from Bangladesh – have been selected by over 100 applications. They propose solutions for a variety of global problems, such as expanding access to electronic prescriptions, making mobile connectivity more accessible and improving access to finance for local social impact projects.
The fund manager of the innovation fund, Sunita Grote, says the fund has looked for projects based on the more than 190 countries in which UNICEF operates, willing to make their technology open source and that had at least one initial prototype that could be evaluated . It was also particularly important for candidate teams to reflect on gender and other types of diversity. "We know this makes teams more effective," says Grote.
Everardo Barojas, founder of the Prescrypto blockchain-based electronic prescription startup, says the UNICEF fund was the right choice for his company. "They support the positive impact this can have, especially for underrepresented communities," he says. Prescrypto will use its new funding to prepare for large-scale production and support the community around the project. He also plans to adopt the regulatory standards of other countries beyond Mexico, such as Chile, so that it can expand.
Audrey Tan, head of the project working with Atix Labs, has discovered the funding opportunities of UNICEF through a Telegram chat room for women in blockchain. "It's serendipity," he says. Atix Labs aims to make cross-border financing more democratic, accessible and transparent and will use the investment to continue launching a pilot product for local communities in Southeast Asia.
In addition to the initial investment, the six startups will have access to the UN network of experts, partners and mentors and will be able to receive assistance to secure second-tier investments in order to scale. UNICEF also works with other donors like the Gates Foundation to make it easier for companies to get traction after the Innovation Fund's investment period is over. All six companies will meet in New York in January for a seminar.
">
Credit AFP / Getty ImagesAFP / Getty Images
The United Nations International Emergency Fund for Children (UNICEF) will invest in six blockchain projects in emerging markets through its Innovation Fund. Each project will receive up to $ 100,000 to develop an open source prototype over the next year.
The $ 17.9 million investment fund is part of the UNICEF Office of Innovation, which focuses on frontier technologies such as data science, machine learning, drones and now, the blockchain. So far, he has invested in 33 startups in 23 countries.
"It works just like a VC fund," said chief adviser Chris Fabian Forbes"Except we are investing exclusively in companies in emerging markets, companies that have a bit of human good in them, and companies that are open source and that can be combined with each other during the investment period ".
Blockchain is not new to UNICEF (the organization already has an in-house technology exploration team, and made its first blockchain investment in a South African startup in 2016), but these investments include the first initial cohort of the fund's blockchain company.
And even if the blockchain is still in its infancy, Fabian says the goal is to explore the potential of technology, both in new companies in emerging markets and in the context of its operations of UNICEF. UNICEF buys billions of vaccine doses every year, for example, and Fabian imagines that blockchain can one day improve that procurement process. "We see these as provocations as the beginning of a learning journey," he says, "and as things we can eventually integrate parts of our broader work".
The six -Atix Labs projects from Argentina, Onesmart and Prescrypto from Mexico, Statwig from India, Utopixar from Tunisia and W3 Engineers from Bangladesh – have been selected by over 100 applications. They propose solutions for a variety of global problems, such as expanding access to electronic prescriptions, making mobile connectivity more accessible and improving access to finance for local social impact projects.
The fund manager of the innovation fund, Sunita Grote, says the fund has looked for projects based on the more than 190 countries in which UNICEF operates, willing to make their technology open source and that had at least one initial prototype that could be evaluated . It was also particularly important for candidate teams to reflect on gender and other types of diversity. "We know this makes teams more effective," says Grote.
Everardo Barojas, founder of the Prescrypto blockchain-based electronic prescription startup, says the UNICEF fund was the right choice for his company. "They support the positive impact this can have, especially for underrepresented communities," he says. Prescrypto will use its new funding to prepare for large-scale production and support the community around the project. He also plans to adopt the regulatory standards of other countries beyond Mexico, such as Chile, so that it can expand.
Audrey Tan, head of the project working with Atix Labs, has discovered the funding opportunities of UNICEF through a Telegram chat room for women in blockchain. "It's serendipity," he says. Atix Labs aims to make cross-border financing more democratic, accessible and transparent and will use the investment to continue launching a pilot product for local communities in Southeast Asia.
In addition to the initial investment, the six startups will have access to the UN network of experts, partners and mentors and will be able to receive assistance to secure second-tier investments in order to scale. UNICEF also works with other donors like the Gates Foundation to make it easier for companies to get traction after the Innovation Fund's investment period is over. All six companies will meet in New York in January for a seminar.
