Experimentation of innovative financial tool:

Innovation methods

Data sources

SDG(s)

Sustainable Development Goal(s)

1No poverty

8Decent work and economic growth

10Reduced innequalities

Disclaimer:

Please be aware that the content herein has not been peer reviewed. It consists of personal reflections, insights, and learnings of the contributor(s). It may not be exhaustive, nor does it aim to be authoritative knowledge.

Learnings on your challenge

What are the top key insights you generated about your learning challenge during this Action Learning Plan? (Please list a maximum of 5 key insights)

- Crowdfunding can be an alternative resource mobilization tool for MSMEs. - Crowdfunding needs dedicated team and a clear communication strategy. - It is important to initiate policy dialogue with regulators as Ethiopia doesn’t a have clear policy on online resource mobilization tools like crowdfunding.

Considering the outcomes of this learning challenge, which of the following best describe the handover process? (Please select all that apply)

Our work has led to significant changes in our UNDP Country Office programming, Our work has been picked up by UNDP or the government and has now expanded geographically in our country, Our private sector partners have expanded our joint work through their own resources in our country or internationally

Can you provide more detail on your handover process?

The crowdsourced money will go to the Peace Support Facility for field implementation. Learnings from the experimentation are integrated into UNDP Ethiopia’s Innovative Finance Lab solutions portfolio and will be promoted as one resource mobilization tool for MSMEs.

Please paste any link(s) to blog(s) or publication(s) that articulate the learnings on your frontier challenge.

Data and Methods

Relating to your types of data, why did you chose these? What gaps in available data were these addressing?

Why was it necessary to apply the above innovation method on your frontier challenge? How did these help you to unpack the system?

Partners

Please indicate what partners you have actually worked with for this learning challenge.

Please state the name of the partner:

The crowdfunding helped UNDP to forge new partnership with unusual partners like Great Ethiopian Run (GER)-privates sector and Ethiopian Diaspora Trust Fund (EDTF)-Civil Society.

What sector does your partner belong to?

Civil Society

Please provide a brief description of the partnership.

The crowdfunding campaign was officially launched on 17 August 2023 in partnership with the Great Ethiopian Run (GER). The GER is a globally renowned road race organiser that comes into this crowdfunding campaign with a strong track-record in outreach around partnering with UNDP and the rest of the UN to promote the Sustainable Development Goals (SDGs) and fundraise for local worthy causes. The Rebuild Her Business campaign will benefit from the “Running for Cause” charity initiative linked with the annual 10k race held in November 2023. The Ethiopian Diaspora Trust Fund (EDTF) is an organization that creates a powerful connection between those in need in Ethiopia with the diaspora. Over the past 5 year, the fund has mobilized more than 7 million dollars from the Ethiopian diaspora around the world to support projects and dedicate a crisis relief to support the most vulnerable Ethiopians. Seeing the strategic alignment with Rebuild Her Business , EDTF has promoted the campaign with the diaspora community pledged to support 100 women through the Rebuild Her Business campaign with a $50,000 donation. The partnership is not only to support these women but to lay down a foundation for the future work with UNDP in the peace support projects.

Is this a new and unusual partner for UNDP?

Yes

End

Bonus question: How did the interplay of innovation methods, new forms of data and unusual partners enable you to learn & generate insights, that otherwise you would have not been able to achieve?

Please upload any further supporting evidence / documents / data you have produced on your frontier challenge that showcase your learnings.

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