UNICEF selected Utopixar, the developer of a social collaboration tool, for investment. The startup, together with 5 others, will receive up to $100,000 from the UNICEF Innovation Fund.
Utopixar's is the developer of Coinsense. It connects people "to increase transparency and synergies between people, communities and organizations".
"We offer you an open source platform with different value creation and governance features to build innovation-friendly, effective and flexible organizations," says Utopixar
Thee other solutions are; Atix Labs (Argentina), Onesmart (Mexico), Prescrypto (Mexico), Statwig (India) and W3 Engineers (Bangladesh). UNICEF selected them from more than 100 applications across 50 countries.
The six propose solutions for a variety of global issues. From expanding access to electronic prescriptions, making mobile phone connectivity more affordable, and improving access to funding for local social impact projects. UNICEF expects each to "deliver open-source prototypes of blockchain applications within 12-months".
Besides the seed investment, the startups will have access to the UN’s network of experts, partners, and mentors. They can also receive help securing second round investments to scale.
UNICEF also partners with other funders like the Gates Foundation to make it easier for companies to gain traction after the Innovation Fund's investment period is over. All six companies will convene in New York City in January for a workshop.
According to Forbes, the $17.9 million venture fund is part of the UNICEF Office of Innovation. The fund focuses on frontier technologies like data science, machine learning, drones, and now, blockchain. It has so far invested in 33 startups in 23 countries.