This 2 part article, focuses on how social entrepreneurs can use GIE to find funding that is a good fit for their innovation. It is important to narrow down funding to only those that are a good fit for your innovation so you are not wasting time both for yourself and the funder by applying for funding that your innovation does not qualify for. Funders have specific strategic priorities that they have to stick to and many have obligations to their funders to make certain types of investments. Missed step 1? See it here.
For this step: Review each funding opportunity to confirm if it is a good fit for your innovation
The funding opportunity pages on GIE are meant to give you a quick overview and help you determine if this might be a good fit opportunity for your innovation. The information gets more detailed from top to bottom. The most basic and mandatory requirements are at the top. You can see in a matter of seconds if this funding opportunity might not be a good fit and avoid wasting your time reviewing the rest of the page!
Here’s how to use each section:
- Snapshot: This section includes a brief description of the funding, type of funding (grant, equity or debt), deadline, amount and duration. Some funding opportunities will also include a table describing different funding possibilities such as different funding amount based on the stage of innovation. Use this to confirm that this aligns with what you are searching for. E.g. If you are only looking for grants and this is debt or equity, close out the tab immediately!
- Mandatory Requirements: This includes the most basic requirements for this funding that your innovation must match such as stage, the country/region you’ve implemented your innovation and focus areas. There might be additional context around the requirements included as well. Pay close attention to these. If your innovation does not meet even a single one of these, you should immediately rule out this funding opportunity.
- Other Requirements: Here you will see a varying set of other requirements that might be included for funding opportunities. Some of them will be marked as “REQUIRED” and should be treated with an equal level of importance as the above Mandatory Requirements.
- Be on the look out for what funders "will not" fund! In the Other Requirements section GIE may provide the funder's explicit exclusion criteria. We recommend you remove the opportunity from your list if the exclusion criteria applies to your innovation
- Application Directions, Application and Award Process, and Attachments: When filled in, these 3 sections share more details about the funding opportunity. We encourage you to review the Attachments that may have additional information to confirm that this is definitely a good fit funding opportunity for your innovation. Reviewing the Application Directions and Application and Award Process is also important in deciding whether you should move forward with this funding opportunity. For e.g., If the application process is going to take 8 months and you need funding right away, this might not be the right fit funding for you. If you do determine this is a good fit for you, then these sections will tell you more about the next steps.
- Funding History: When available, our team also adds the funding history for the funding opportunity or a related organization or program. This shows you the type of innovations that the funder has invested in before. You should use this as additional information to see if there is alignment in the type of innovations they invest in and your innovation.
If everything lines up and you are ready to learn more, you can click on APPLY ON FUNDING SITE button. We encourage you to skim through the latest information on the funding site as funders often change their site and we may not have captured it yet!
Bonus: Email us to let us know which funding you applied for! This will not have any impact on your application process but it helps us better track if we are posting relevant and useful funding on our site so we can continue to post more funding opportunities like that one.