The Ministry of External Affairs (MEA), India and the Foreign, Commonwealth & Development Office (FCDO), UK propose to invest development capital to support the scale up of innovations under the Global Innovation Partnership (GIP) Programme.
Global Innovation Partnership (GIP) Development Fund (“GIP Fund” or “the Fund”) is proposed to be established under the GIP programme which is a joint initiative by the Ministry of External Affairs (MEA), Government of India and the Foreign, Commonwealth & Development Office (FCDO), Government of UK. GIP will foster, transfer, and scale up demonstrated and sustainable, climate-smart innovations from India to other countries to promote and improve the economic development, accelerate the implementation of SDGs and primarily improve the lives and livelihoods of poor populations in the recipient countries. MEA and FCDO will co-invest into this GIP Fund through their respective investment platforms (managed by SBICAP Ventures Ltd). The GIP Fund will be managed by a third-party investment manager. An Early Market Engagement (EME) event is being organised to consult investment managers, understand the market appetite, seek feedback on the proposed fund. It is an opportunity for investment managers to understand the GIP Fund construct, to ask questions and to contribute towards refining the delivery mechanism of the GIP Fund. The EME is scheduled on 1st February 2023, from 15:00 – 17:00 hrs IST. More details to follow.