UNICEF unveils startups fund; NEObank rolls out security tokens
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Homepage > News > Business > UNICEF launches fund for startups; NEObank offers security tokens The United Nations Children’s Fund (UNICEF) has announced the launch of a fund to back startups building real-world solutions with emerging technology to protect children on the internet. According to an official announcement, the UNICEF Venture Fund is seeking firms to experiment with artificial intelligence (AI) and blockchain in its program countries. The solutions provided by the companies should have the “potential to create radical change for children.” The fund is particularly concerned with practical solutions that can help young individuals spot misinformation while building media literacy. Successful firms will receive as much as US$100,000 in equity-free funding with UNICEF targeting early-stage startups with a working prototype. Firms focusing on open-source licensing and practice are more likely to receive funding from UNICEF than closed-ended enterprises. Top on the pile for UNICEF is the desire to leverage AI and Web3 solutions to combat misinformation, with the statement exploring potential applications. UNICEF is willing to fund platform-agnostic, interactive games that encourage fact-checking practices and novel watermarking solutions. The second objective of the fund is to support firms collating large numbers of data for building safe AI models. Firms building data collection and management systems are more likely to receive funding, while others experimenting with solutions to stifle cognitive bias in the process will be preferred. Firms with solutions that foster digital trust will likely come under the crosshairs of UNICEF, particularly those building around decentralized protocols for ownership and licensing. AI-based solutions monitoring online risks and DLT-backed Know Your Customer (KYC) tools will likely receive funding. “We are actively seeking companies that push the boundaries with frontier technologies in innovative and scalable ways with global relevance,” UNICEF said. UNICEF work with emerging technology In recent years, UNICEF has had a long and storied history with…
Filed under: News - @ December 2, 2024 4:02 am