The UNICEF Innovation Fund announced a total $100,000 USD of the first cohort of blockchain investments in six companies on December 10.
The Innovation Fund was launched to finance the developing and emerging economies to illuminate the global challenges utilizing the blockchain innovation. The fund identifies the possible solution in the leading technologies like blockchain, machine learning, quantum computing, artificial intelligence(AI), and others.
The fund will invest up to $100,000 in Argentinian software development firm Atix Labs, Mexican tech companies Onesmart and Prescrypto, Statwig; Indian startup, Tunisian apps development startup Utopixar, and web apps development firm W3 Engineers from Bangladesh.
Chosen from excess of 100 applications crosswise over 50 nations, these six organizations will assemble models and frameworks for worldwide issues like straightforwardness in medicinal services conveyance, moderate access to the cell phone network, and the capacity to guide accounts and assets to social-affect ventures.
The news announced 20 other innovative new companies to join who are already under administration by the Fund in fields from data science and machine learning, to virtual reality, to drones.
Chris Fabian, Principal Advisor at the UNICEF Innovation said:
“Blockchain technology is still at an early stage -- and there is a great deal of experimentation, failure, and learning ahead of us as we see how, and where, we can use this technology to create a better world.“That's exactly the stage when UNICEF Innovation Fund invests: when our financing, technical support, and focus on vulnerable populations can help a technology grow and mature in the most fair and equitable way possible.”
In addition to the funding, UNICEF will also provide product and technology, business growth assistance to a network of experts and partners. There will also be second-round investments opportunity for the companies that are already invested for scaling.
Since Blockchain is in the stage of exponential growth, this initiative can be regarded as an intelligent move by UNICEF to flourish the technology. Hope to see such opportunities like such in the future soon.