Tech for Good: 26 StartUps Join UNICEF's Venture Fund Pledge

Emerging economy startups join UNICEF Venture Fund Pledge, committing to "give forward" for equitable innovation benefiting children globally.

Over the last decade, the UNICEF Venture Fund has been at the forefront of identifying, testing, and nurturing 149 open technology solutions from startups and UNICEF offices across 87 countries. These initiatives have reached over 110 million people, with 34.3 million being children.

Now, the Fund is ushering in a new era with its investment strategy. Alumni startups, focusing on frontier technologies like Artificial Intelligence, blockchain, and machine learning, all hailing from emerging economies, are stepping up as founding members of the Venture Fund Pledge.

Embracing Shared Values

In a demonstration of solidarity for principles such as tech justice, equity, and inclusion, 26 companies from the Fund’s alumni portfolio have voluntarily committed to 'give forward'. This commitment involves offering financial or in-kind support to further the Fund's mission.

Catalyzing Impact Through Collaboration

At the heart of the Fund’s mission lies the goal of catalyzing an ecosystem of diverse tech startups to drive social impact. The pledge from alumni startups to 'give back' ensures that future cohorts can continue to do so.

“While the alignment between founders and the UNICEF Venture Fund has always been strong, we recognize the need to further enhance our shared impact. Alumni startups committing to give back to maximize our collective impact for a more equitable future for children is the best proof of value created we could receive,” Hanna Burkhardt, UNICEF Venture Fund Lead. 

Over the past decade, the Venture Fund has disbursed capital and mentorship to 81 companies across 37 countries. These startups have, on average, generated 2.6 times their initial investment in follow-on funding from third parties, amounting to approximately USD 25 million. Currently, 65 per cent of the Fund’s portfolio companies are generating revenue, with 40 per cent recording profits.

Sustaining Innovation Through Pledges

Fulfilled pledges play a crucial role in sustaining the Fund's mission. They enable continued mentorship and investment in tech entrepreneurs to test and pilot open-source solutions with the potential to drive results for generations to come.

Graduates of the Venture Fund’s seed-stage investment period are invited to make voluntary pledges to contribute a portion of their financial success back to the Fund. For early-stage companies, in-kind support is pledged in lieu of financial assistance.

Pledge members, supported by the Fund, become part of a network of mission-aligned, multidisciplinary tech entrepreneurs. Upon fulfilling their pledges and becoming donors, they unlock opportunities to partner with UNICEF to accelerate progress for children globally.

“We are driven by the need to do more, faster and smarter to address the global challenges affecting the lives of children globally. Our alumni companies have succeeded in testing and scaling tech solutions in a diversity of communities that need them most. We’re grateful for their commitment as pledge members to do even more – together,” Hanna Burkhardt.   

By leveraging the power of technology and fostering a collaborative ecosystem, the UNICEF Venture Fund continues to pave the way for innovative solutions that address the most pressing challenges facing children worldwide.

Disclaimer: This content was not produced by the TICE editorial team. It is a press release sent by the respective company/representative/public relations team. At best, it may have been tweaked creatively or editorially without altering any provided facts.