7 Grants That Support Social Innovation Startups

Social innovation startups play a crucial role in addressing pressing societal challenges, from climate change and education disparities to healthcare accessibility and poverty alleviation. However, turning groundbreaking ideas into impactful solutions often requires substantial funding. Fortunately, numerous grants are specifically designed to support social innovation startups, providing the financial backing necessary to drive meaningful change. In this article, we explore 7 grants that support social innovation startups, helping you secure the resources needed to make a difference.

1. Ashoka Fellowship

Overview: The Ashoka Fellowship is one of the most prestigious grants for social entrepreneurs globally. It recognizes and supports leading social innovators with exceptional vision and commitment to social change.

Benefits:

• Access to a global network of social entrepreneurs
• Financial support ranging from $5,000 to $10,000 annually
• Professional development opportunities and mentorship

Eligibility: Open to individuals with innovative solutions to social problems across various sectors, including education, health, and environment.

Apply By: Annual application cycle, typically opening in spring.

2. Skoll Foundation Awards

Overview: The Skoll Foundation Awards target social entrepreneurs whose innovations have the potential to drive large-scale change. They provide substantial financial support and visibility to amplify their impact.

Benefits:

• Multi-year funding ranging from $100,000 to $1 million
• Strategic support and access to the Skoll network
• Opportunities for collaboration and scaling initiatives

Eligibility: Established social enterprises with proven impact and scalable solutions to global challenges.

Apply By: Applications usually open in late summer.

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3. Echoing Green Fellowship

Overview: Echoing Green offers fellowships to emerging social entrepreneurs who are developing bold and innovative solutions to social issues. It’s renowned for nurturing early-stage leaders.

Benefits:

• Seed funding of $80,000
• Leadership development programs
• Networking opportunities with a global community of changemakers

Eligibility: Individuals with a strong vision for social change and innovative ideas, typically in the early stages of their ventures.

Apply By: Annual application cycle, typically opening in the fall.

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4. Global Innovation Fund (GIF) Grants

Overview: The Global Innovation Fund supports innovative solutions that address poverty and inequality in developing countries. It offers grants, equity, and other financial instruments.

Benefits:

• Funding up to $15 million
• Flexible financing options tailored to project needs
• Support for scaling proven innovations

Eligibility: Social enterprises, NGOs, and other organizations with scalable solutions to development challenges.

Apply By: Rolling applications throughout the year.

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5. The Tony Elumelu Foundation Entrepreneurship Program

Overview: While primarily focused on African entrepreneurs, the Tony Elumelu Foundation provides substantial support to startups across various sectors, including social innovation.

Benefits:

• Seed capital of $5,000
• Mentorship and training programs
• Access to a vast network of entrepreneurs and investors

Eligibility: Early-stage startups operating in Africa with a clear social impact mission.

Apply By: Annual application period, usually in the first quarter.

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6. Unreasonable Institute’s Unreasonable Impact Fund

Overview: Unreasonable Institute focuses on high-impact social ventures that have the potential to transform their industries and create significant social value.

Benefits:

• Equity-free funding up to $50,000
• Intensive support and mentorship
• Opportunities for global exposure and scaling

Eligibility: Social enterprises with innovative solutions and high growth potential.

Apply By: Quarterly application cycles.

7. Ford Foundation Grants

Overview: The Ford Foundation provides grants to initiatives that address inequality and promote social justice. Their focus areas include economic fairness, education, and human rights.

Benefits:

• Grants ranging from $50,000 to several million dollars
• Support for capacity building and program development
• Collaborative opportunities with other grantees

Eligibility: Nonprofits and social enterprises working on issues related to inequality and social justice.

Apply By: Rolling applications with periodic deadlines.

Conclusion

Securing funding is a pivotal step for social innovation startups aiming to create lasting societal impact. The 7 grants that support social innovation startups highlighted above offer diverse opportunities to access financial resources, mentorship, and networks essential for growth and scalability. By leveraging these grants, social entrepreneurs can transform their visionary ideas into actionable solutions, driving meaningful change in their communities and beyond. Start exploring these opportunities today to propel your social innovation startup towards success.