Start Ready is a new financial service for the humanitarian sector, with innovative crisis financing mechanisms to deliver faster, more efficient, and more effective global humanitarian action.
What is Start Ready
Start Ready connects frontline responders to risk data and finance, so they are better prepared to respond to crises at scale.
Start Ready is a new service that will provide pre-agreed funding at scale for predictable crises – based on locally led action and using innovative risk analysis, collective planning and pre-positioned financing. This innovative new service will sit alongside Start Fund in Start Network's financing facility.
Local knowledge and leadership are integral to the success of this new model. Start Network hubs will work with the Start Ready team to develop a risk strategy and then apply for funding. Funds are pre-allocated, so if the need is there, the funding will be too.
Start Ready uses global finance principles to make every pound go further. For example, by risk pooling, we use funding more efficiently. Instead of having pots of funding pre-positioned for specific crises or particular countries, which are not always needed, we can pool risk making the funding stretch further.
This new service is not yet operational, we are now seeking funds to bring this new model for crisis action to the sector. To find out how you can support, please contact firstname.lastname@example.org
Why Start Ready is needed
Hear reflections from Start Network colleagues in Bangladesh, The Philippines and Pakistan.
How Start Ready will work
National networks of NGOs identify and prioritise risks.
These risks are then categorised as ‘unpredictable’ or ‘predictable’. Unpredictable risks are supported by Start Funds, while predictable risks will go through Start Ready
National networks of NGOs develop their country system to monitor and manage the risks they have prioritised.
National networks of NGOs apply for coverage from Start Ready, which is approved by a panel including members of national governance structures, and risk experts
Start Network's finance facility governance committee decides on funding allocations and shares the most efficient ways to pre-position funding, using the services on offer:
Contingency funds – such as the Start Fund and Start Fund Bangladesh, for regular crises of mild severity, small to medium-sized crises, where likely impact is low.
Risk pool – for predictable moderate crises, where it is more efficient to share risks across other hazards.
Insurance – for rarely seen, extreme crises where risk needs to be transferred to a third party.
Start Ready pre-positions funding, so it is ready to be triggered when needed.