The Innovation Fund, launched in 2024 by the abrdn Charitable Foundation (aCF), provides a new approach to funding. The aim of the Fund is to help the aCF support more charitable organisations, particularly those registered outside the UK.
The Innovation Fund enables the aCF to support projects across the Americas, Asia, and the Europe, Middle East and Africa (EMEA) region (including the UK). Expanding beyond UK-registered organisations will help diversify the type of work and the communities the Foundation supports.
This approach provides charitable organisations with much-needed resources to pilot projects linked to technology and innovation aligned with our Tomorrow’s Generation strategy. It features the two themes of People and Planet, which includes helping people overcome barriers and gain access to opportunities aligned with education, employment and financial wellness, as well as protecting nature and addressing climate change.
The Fund is seeking projects that are innovative, practical, collaborative and systemic – so they provide learning that can be applied widely to deliver lasting impact.
abrdn directs funding to charitable organisations around the globe through the aCF, with the aim of creating fair and impactful partnerships which are aligned with our strategy and engage colleagues to use their skills to benefit society. A key feature of our approach is to support a small number of Powerful Partnerships, typically significant multi-year grants to organisations and projects where the aCF’s support can have a transformative impact. It is hoped the Fund will deliver a significant impact through its support of small to medium-sized projects that could potentially become Powerful Partnerships of the future.
“The abrdn Charitable Foundation has launched its inaugural Innovation Fund aimed at advancing social mobility, combating climate change, and protecting nature. We are inviting applications from across the globe from organisations that propose compelling solutions to social and environmental challenges. We will foster these pioneering projects, supporting them in exploring groundbreaking ideas with the potential to significantly benefit global communities.”
Sarah Moody, Chair of the abrdn Charitable Foundation
Who can apply and how much funding is available?
- The aCF Innovation Fund is open to registered charities governed by the relevant regulator in a particular geography, as well as social enterprises, community interest companies, charitable incorporated organisations, and other similar non-profit organisations.
Charities must have an annual turnover of no more than £3 million or local-currency equivalent.
- Please note: the aCF does not fund political organisations or organisations that promote a single religious faith. We are also unable to fund for-profit companies or individuals.
- The Fund can provide up to £50,000, or the local-currency equivalent, to fund a specific project. Ideally, we are looking to fund projects that support innovations or that enable your organisation to develop a new approach or understanding that will significantly further your mission.
- The projects would typically be delivered within 12–18 months of the grant being approved. At that stage, impact-measurement forms would be shared, so the aCF can capture and understand the outcomes and impact that the funding has achieved.
Application window and decision-making process
In 2024, applications will be open from 1st October to 1st November. Going forward, application windows will typically open in the second and/or fourth quarters of any given calendar year and will be launched on our website and via abrdn’s social media.
Applicants are requested to complete an online application form, which can be found on our website. This has been designed to capture the necessary information, so we can understand more about your organisation and the project, and not put undue pressure on the finite resources of organisations that choose to apply. Applications will be reviewed and scored by the aCF team, using an established scoring matrix. Successful applicants will be informed in a timely manner and the timescale will be clearly communicated on receipt of an application.
The aCF will endeavour to provide succinct feedback to shortlisted applicants as part of our commitment to being an equitable and thoughtful funder. However, the aCF has limited resources and so, if the volume of applicants is significant in any given period, providing individual feedback might not always be possible. This will be communicated to the applying organisation.
Organisations that have applied and have been unsuccessful are welcome to apply again.
The aCF will consider discrete research projects that align with our mission and empower the applying organisation to uncover new insights that will enable it to significantly extend or enhance its field of activity.
Supporting our sustainability strategy
In conclusion, we believe the Innovation Fund will enhance our giving strategy of making a significant social and environmental impact within local communities across the globe. We recognise that our charitable giving is a key part of our overall sustainability strategy, and the Innovation Fund should help us reach a more diverse set of organisations.