Global Innovation ExchangeSend Message
However, one of the challenges of scaling tested and proven global development innovations is the incomplete, complicated and fragmented information about these innovations. The global development industry as a whole is wildly opaque, and the data that is available is dispersed in hard-to-find files, outdated databases, or in private internal systems. This makes the business of funding, supporting and scaling innovations incredibly time-consuming, costly and risky at best.
Global Innovation Exchange (GIE) is a data-driven technology platform with various supporting agencies, managed by Results for Development. It is addressing this challenge by giving funders, social entrepreneurs and others easy access to high-quality and up-to-date information about existing innovations, funding opportunities and funding history across emerging markets. Anyone can add their social innovations to the platform and include the basic details about the innovation, as well as key milestones achieved. GIE partners with funders and other ecosystem players to identify and verify these innovations, using milestones that can serve as a badge of validation, such as funds raised or recognitions earned. EnerGaia, for example, has a verified-funds-raised milestone for October 2016 (of $381,325) from the Australian Department of Foreign Affairs and Trade.
As a global public good, GIE’s goal is to empower entrepreneurs and key stakeholders with the information they need to make more informed decisions in their respective roles in scaling global development innovations. We’ve highlighted three ways data on the GIE platform can help experts and entrepreneurs do just that.