Guide to Giving
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  | 

Australia Joins Global Innovation Fund


Thursday, 25th September 2014 at 8:16 am
Lina Caneva, Editor
The philanthropic sector has welcomed the Federal Government’s move to join forces with those of the United States, United Kingdom and Sweden to launch a $200 million Global Innovation Fund.

Thursday, 25th September 2014
at 8:16 am
Lina Caneva, Editor


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Australia Joins Global Innovation Fund
Thursday, 25th September 2014 at 8:16 am

The philanthropic sector has welcomed the Federal Government’s move to join forces with those of the United States, United Kingdom and Sweden to launch a $200 million Global Innovation Fund.

Minister for Foreign Affairs Julie Bishop said that Australia would contribute $30 million over four years towards the fund that would see the Government take a more creative approach to the planning and delivery of development programs.

“The Global Innovation Fund (GIF) is a global program established by the United States and United Kingdom that will identify, test and scale up successful new approaches to development,” Bishop said.

“Australia’s contribution to the fund will focus on identifying innovative programs that address the development challenges of the Indo-Pacific region.

“The Government is committed to the sustainable development of our close neighbours and to ensuring our region has access to innovative approaches and private sector investment.

“The concept of investing in innovation means accepting we do not have all the answers to global development but by trialling new approaches, we build our knowledge and edge closer to success.

“Australia is a founding partner of the GIF.Other investors include Sweden and the Omidyar Foundation.Australia’s contribution to the GIF underlines our commitment to partnerships that tackle the most complex development challenges.”

UK Secretary of State for International Development Justine Greening said “We must find and invest in more effective, faster and more efficient ways of ending aid dependency”.

“The Global Innovation Fund is now open for business and can support ambitious ideas to transform lives in some of the poorest countries in the world. As we work towards a new set of post-2015 development goals, fresh thinking and new ideas will be critical to ending extreme poverty for good.”

CEO of Philanthropy Australia, Louise Walsh welcomed the announcement.

“Traditional philanthropic approaches have, and will continue to have, a very important role in international development. But we also need to be looking at other ways to support the social and economic transformation needed to lift people out of poverty around the world,” Walsh said.

“Philanthropy Australia is committed to fostering impact investment and new approaches to delivering positive social change – and that’s why we are very pleased with the Australian Government’s contribution of $30 million to the Global Innovation Fund.

“By bringing together private, government and philanthropic capital, the Global Innovation Fund has the potential to make a big impact in developing countries. It’s a very exciting initiative, and we welcome the Australian Government’s commitment, alongside those of impact investing pioneers like the Omidyar Network, as well as other governments.”

Operating as a Not for Profit innovation fund, the Government says the Global Innovation Fund is open for business and currently seeking great ideas from a wide range of potential partners, including social enterprises, for-profit firms, researchers, government agencies, Not for Profit organisations and others.

For more information visit www.globalinnovation.fund.


Lina Caneva  |  Editor |  @ProBonoNews

Lina Caneva has been a journalist for more than 35 years, and Editor of Pro Bono Australia News since it was founded in 2000.

Guide to Giving

FEATURED SUPPLIERS


HLB Mann Judd is a specialist Accounting and Advisory firm t...

HLB Mann Judd

Brennan IT helps not-for-profit (NFP) organisations drive gr...

Brennan IT

Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

Yes we’re lawyers, but we do a lot more....

Moores

More Suppliers


YOU MAY ALSO LIKE

Thinkers Look to Melbourne to Grow SA Purpose Economy

Wendy Williams

Thursday, 21st September 2017 at 4:44 pm

$2 Million Grant Helps Give Australians in Need A Fair Go

Wendy Williams

Thursday, 21st September 2017 at 8:35 am

NFPs Need Social Media More Than They Know

Alecia Hancock

Thursday, 21st September 2017 at 8:33 am

POPULAR

Moves to Stop Volunteering at Overseas Orphanages

Luke Michael

Wednesday, 13th September 2017 at 1:54 pm

Future Uncertain for Disability Organisations Following Funding Cuts

Wendy Williams

Tuesday, 19th September 2017 at 8:29 am

Majority of NFPs Are Not Believed to be Well-Run, According to New Survey

Luke Michael

Tuesday, 12th September 2017 at 4:14 pm

More Australians Are Giving Time Not Money

Wendy Williams

Monday, 11th September 2017 at 5:07 pm

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


Guide to Giving
pba inverse logo
Subscribe Twitter Facebook

The social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!