UNICEF Wants to Fund Early Stage Blockchain Startups

The United Nations Children's Fund is seeking to invest in early stage blockchain startups with the potential to help people across the globe.

AccessTimeIconJan 16, 2018 at 10:35 a.m. UTC
Updated Sep 13, 2021 at 7:23 a.m. UTC

The United Nations Children's Fund (UNICEF) is seeking to invest in early stage blockchain startups with the potential to help children across the globe.

In an announcement today, the U.N. program said it is offering equity-free investments of $50,000–90,000 to seed-stage startups developing solutions on open blockchains in areas including smart contracts, tokens, mining and data analysis.

The release added:

"We are interested in companies that use distributed ledger tech in new, groundbreaking, ways that are scalable, and globally applicable."

The initiative, led by the UNICEF Innovation Fund, is the latest move by the non-profit's venture arm in supporting the application of blockchain technology for humanitarian causes.

Apart from providing equity-free seed funding, the Innovation Fund is offering technical assistance from the UNICEF Ventures team to selected projects, in order to help validate and improve their solutions. With the organization's dedicated blockchain team on hand, the startups will also benefit from UNICEF Ventures' data sharing platforms, as well as mentors to help improve their business model and strategy.

As previously reported by CoinDesk, UNICEF invested in a South African blockchain startup in November 2016, as part of a broader technology innovation push.

According to Chris Fabian, who leads UNICEF's Office of Innovation Ventures, the move marked the first step in a broader push to find and fund new companies.

"I believe that there is a very near future where we will be using blockchain, the bitcoin blockchain maybe, other distributed ledgers, to do central operational tasks," Fabian told CoinDesk at the time.

UNICEF image via Shutterstock

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Bitstamp Inactivity Fee Canceled After Outcry

The crypto exchange on Friday had said it would soon be charging small, non-active accounts a €10 per month fee.

CoinDesk - Unknown
2
CoinDesk - Unknown
Crypto News Roundup for July 6, 2022

With crypto markets trading in the green and a look at crypto job satisfaction just as the crypto winter began, CoinDesk’s “Markets Daily” is back with the latest news roundup.

CoinDesk - Unknown
3
CoinDesk - Unknown
Genesis Confirms Exposure to Three Arrows Capital

Digital Currency Group, the crypto conglomerate that owns Genesis, is assuming some of the liabilities.

CoinDesk - Unknown
4
CoinDesk - Unknown
Ethereum's Sepolia Testnet Successfully Switches to Proof-of-Stake

The Sepolia proof-of-work chain merged with its proof-of-stake chain on Wednesday, taking Ethereum one step closer to its own Merge moment.

CoinDesk - Unknown