The DIV Fund is an R&D engine for development, supporting innovative solutions with the potential to cost-effectively improve millions of lives.
We combine risk-tolerant capital with evidence-driven decision-making to back bold ideas, identify what works, and scale the most cost-effective innovations. Our portfolio approach balances experimentation with evidence, while our tiered funding model right-sizes risk.
Before applying, please review our Request For Proposals.
Our Funding Stages
The DIV Fund offers three stages of grants. Across all stages, we prioritize investments that maximize expected social returns. To assess this, we consider key drivers of social returns in our reviews, such as unit costs, per-person impact, and crucially, scaling potential, including the probability of greater scale as a result of DIV Fund investment.
Stage 1
Pilot
Up to US $200,000
Stage 1 grants support real-world pilots of promising innovations. These grants can be used to conduct testing to understand user demand, feasibility, impact potential, and financial viability.
By the end of Stage 1, we want to know whether the innovation works in practice, if people will use it, and if it shows enough promise to warrant deeper investment.
Stage 2
Test & Position for Scale
Up to US $500,000
Stage 2 grants are used to determine if an innovation is measurably impactful and has a viable path for growth. These grants may include rigorous impact evaluations, market validation, testing new business models, or evaluating scale readiness through strategic expansions. By the end of Stage 2, we want to know if the innovation significantly improves lives, is cost-effective, and has a clear model for scaling.
Most Stage 2 grants will be under $500,000. In especially compelling cases, we may consider Stage 2 grants of up to $750,000.
Stage 3
Scale
Up to US $1.5M
Stage 3 grants accelerate the scale-up of validated, transformative innovations. To receive this funding, grantees need to demonstrate strong evidence of impact and cost-effectiveness, or commercial viability, and leverage external partnerships to drive widespread adoption.
By the end of Stage 3, we want to know that the innovation can achieve sustained impact at scale without ongoing grant dependence.
Our Core Criteria
We assess every application against our three core principles: evidence of impact, cost-effectiveness, and potential for scale. What we look for under each principle is adjusted to each funding stage, from testing potential at earlier stages to demonstrating evidence of impact and readiness for scale at later stages.
Evidence of impact
We rely on rigorous evidence that an innovation improves lives, and at earlier stages, we help grantees build it. All applicants must present a credible theory of change grounded in evidence.
Cost-effectiveness
We look for innovations with the potential to deliver greater impact per dollar than existing alternatives, by lowering costs, increasing impact, or both.
Durable Scale
We fund innovations with the potential to generate impact for over 1 million people at scale, and that have a clear path to lasting financial sustainability.
We are open to any viable path to scale, be that through government or philanthropic funding, private markets, or a blend of funding sources. Your path shapes how we evaluate your application.
Below is an overview of what applicants can expect when they submit a proposal to the DIV Fund. For additional information, please refer to our Applicant FAQs.
Read the Request for Proposal
Before applying, please review our Request for Proposals in full.
The Request for Proposals explains what we fund, how we evaluate proposals, and what we expect from applications for Stage 1, Stage 2, and Stage 3 funding across different pathways to scale.
Submit YOUR Application
The DIV Fund accepts applications on a rolling basis throughout the year. All applicants submit an application, which allows us to understand your innovation’s potential and fit against our funding criteria.
All applications must be submitted through our online portal. If your innovation advances past the initial review stage, more detailed materials (e.g., study designs, project budgets, partnership letters) will be requested during our full diligence process.
Application Review
Upon submission, eligible applications are reviewed against our core criteria as defined in our Request for Proposals, calibrated to the stage of funding requested. At this point, we are assessing overall fit with the DIV Fund model, including:
- Strength of the core innovation
- Potential for scale and long-term financial sustainability
- Expected impact, including the strength of existing evidence and the expected value of new findings that would be generated through the proposed award
- Expected cost-effectiveness and value for money
- Capacity of the team and key partners
- Strength of the team
Promising applications advance to the due diligence stage.
We aim to review every application carefully. However, we reserve the right to decline proposals without comment if they are incomplete or ineligible, or if they appear to be duplicative, primarily AI-generated, or not representing a legitimate applicant or activity. While we accept the thoughtful use of AI by applicants, proposals must reflect genuine human judgment, context-specific insight, and clear ownership of the ideas presented.
Diligence
Applications that advance into diligence enter a more detailed review phase. Diligence varies depending on the stage of the innovation and the complexity of the proposal. In general, during the diligence phase, our team works with applicants and engages external reviewers to:
- Better understand the innovation and its expected impact
- Assess risks and mitigation strategies
- Evaluate the strength, quality, and limitations of supporting evidence and the expected value of new findings
- Refine impact and cost-effectiveness assumptions
- Clarify the path to scale
The diligence process is designed to help us understand the expected social returns of a potential award, and the specific additionality of the DIV Fund’s potential support.
Decision Panel
Funding decisions are made by expert panels, convened several times per year. The panel reviews proposals and makes final funding determinations, which may include requirements to strengthen aspects of the proposal prior to funding.
Applicants are notified of preliminary funding decisions promptly following decision panels.
Pre-award
Successful applicants move into the pre-award stage, where we set up a milestones-based grant, in which funding is tied to achieving agreed-upon milestones. At the pre-award stage, financial due diligence is conducted, award milestones and budgets are finalized, and the relevant documentation and agreements are completed.
Submit an Application
Apply to the DIV Fund via our online application portal. To work offline before submitting, you may download the application form as a PDF or editable Microsoft Word file. Please note that all submissions must be made through our website to be considered.
Applications are reviewed on a rolling basis, with funding tied to milestone-based performance.
