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Design Funding

Convergence offers a unique market acceleration opportunity for practitioners to secure feasibility study and proof of concept stage design funding to develop and launch catalytic blended finance vehicles that aim to attract private capital to sustainable development at scale.

Funding Windows
Asia Climate Solutions Design Grant
[Coming soon] The Asia Climate Solutions Design Grant (ACSDG) will provide early-stage grants for high-impact climate financing solutions in emerging markets in Asia. The Grant aims to mobilize private capital at scale into high-impact target sectors across climate mitigation and adaptation.
Catalytic Climate Finance Facility
[Coming soon] The Catalytic Climate Finance Facility (CC Facility) is a partnership between Convergence and Climate Policy Initiative (CPI) focused on scaling sustainable climate finance by providing grant funding and dedicated acceleration services to early-stage and market-ready financial solutions in sectors that are severely under-financed in developing countries.
SDG Impact Finance Initiative Design Funding Window
This Window awards grants for innovative impact finance solutions that will mobilize private capital for sustainable development in emerging and frontier markets, with a focus on education, jobs, climate, and responsible consumption/production.
Gender-Responsive Climate Finance Window
The Gender-Responsive Climate Finance Design Funding Window will award early-stage grant funding for the design and launch of innovative blended finance vehicles focused on the intersection of climate change and gender equality in emerging markets globally. This Window is funded by the Government of Canada | Le Guichet de financement de la conception du financement climatique sensible au genre va accorder des subventions de démarrage pour la conception et le lancement de véhicules de financement mixte innovants axés sur l’intersection des problématiques de changement climatique et d’égalité des genres dans les marchés émergents du monde entier. Ce guichet est financé par le gouvernement du Canada.
Gender-Responsive Climate Finance Window
Asia Natural Capital Design Funding Window
The Asia Natural Capital Design Funding Window provides grant funding for the design and launch of catalytic blended finance solutions focused on natural capital in Asia. This Window is funded by the RS Group, a family office based in Asia. It is closed and no longer accepting applications at this time.
Asia Natural Capital Design Funding Window
Indo-Pacific Design Funding Window
The Indo-Pacific Design Funding Window provides grant funding for the design and launch of catalytic blended finance solutions focused on climate finance and gender equality in certain countries in the Indo-Pacific region. This Window is funded by the Australian Government. It is currently closed and is not accepting applications at this time.
Indo-Pacific Design Funding Window
Global Emerging Markets Design Funding Window
The Global Emerging Markets Design Funding Window provides grant funding for the design and launch of catalytic blended finance solutions across emerging markets. This Window is funded by Global Affairs Canada. It is closed and no longer accepting applications at this time.
Global Emerging Markets Design Funding Window
Tertiary Education Financing Prize
[This competition is closed] This competition will identify successful existing student financing solutions that can help more young people enter tertiary education, and thereby drive improved education outcomes as well as increased youth employment. | (French) Ce concours permettra d’identifier les solutions de financement d’études existantes qui peuvent aider davantage de jeunes à entrer dans l’enseignement supérieur et ainsi améliorer les résultats en matière d’éducation ainsi que l’augmentation de l’emploi des jeunes. | (Spanish) Este premio identificará soluciones exitosas de financiamión de estudiantes existentes que pueden ayudar a más jóvenes a ingresar a la educación terciaria y, por lo tanto, impulsar mejores resultados educativos, así como un mayor empleo juvenil.
Tertiary Education Financing Prize
Frequently asked questions
What is Design Funding?

Convergence’s Design Funding is a unique market acceleration program providing early-stage grant funding focused exclusively on the design of innovative blended finance solutions. Despite the significant potential of blended finance, the reality is that often transactions are complex, time intensive, and high-cost to structure and launch. Design Funding is meant to support this process and encourage organizations to design solutions that would otherwise be too risky or complex to pursue, but show high potential to attract private capital at scale if successful.

Convergence operates multiple design funding windows with different thematic and geographic targets.

What kind of grants are provided?

Convergence offers both feasibility study and proof-of-concept grants. Feasibility study grants are to be used to explore the feasibility of a blended finance solution. For example, activities funded under a feasibility study grant could include assessing the investability/bankability of a transaction, conducting market scoping, and developing the vehicle structure. Proof-of-concept grants are to be used for the completion of all design and structuring activities required to get a blended finance solution to launch. For example, activities funded under a proof-of-concept grant could include finalizing the capital structure and financial model, establishing the legal structure, and finalizing key documents.

Grant amounts and duration depend on the solution’s stage of development as well as the Design Funding window under which the grant is awarded.

Who is eligible to apply for Design Funding?

Any organization or consortium of organizations is eligible to apply for funding. For example, eligible organizations could include asset owners, asset managers, financial intermediaries, advisory firms, financial institutions, foundations, not-for-profit organizations, social enterprises, and corporations. The lead organization must be able to provide proof of incorporation and financial statements for the previous fiscal year.

How do you apply for Design Funding?

Visit our Design Funding page for Windows that are currently accepting applications. If you and your solution fit the eligibility criteria for an open Window, then please follow the instructions on the specific page to apply. Note that each solution can only be submitted to one Window.

Which window should I apply to?

It is the applicant’s responsibility to choose the Window for which their initiative is best suited. Visit our Design Funding page and navigate to individual Window pages to learn more about the focus areas and eligibility criteria for each Window. If an initiative is eligible under multiple Windows, organizations must select one Window to apply to. If an applicant has applied to one Window and has been rejected, they are able to apply to another Window with the same concept, provided they are also eligible under that Window. Organizations are able to apply to multiple Windows simultaneously with unique initiatives.

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Convergence Portfolio Stats
Solutions Supported
Funding Awarded
Capital Mobilized
Vehicle
Sector
Region
Grantee Type
SDGs
Funders
Gender-Responsive Climate Finance Window
Asia Natural Capital Design Funding Window
Indo-Pacific Design Funding Window
Tertiary Education Financing Prize