
The Fifth Cohort is now open and accepting applications.
See below for details!
For the Fifth Cohort, the Outcomes Accelerator invites proposals for outcomes-based financing projects that incentivize investments to improve mental health outcomes.
The Outcomes Accelerator offers flexible funding, targeted expertise, and networking to support OBF initiatives with testing, launching, and scaling. To facilitate this, we periodically issue open calls for proposals to identify and support high-potential initiatives that are designing or preparing to launch outcomes-based financing (OBF) mechanisms. Through these calls, the Accelerator offers pipeline acceleration support—including funding, technical assistance, and access to a global network of experts—to help promising projects move toward implementation. See information on the winners of the first four Cohorts of the Outcomes Accelerator here.

The Outcomes Accelerator can offer flexible funding, targeted expertise, and networking to support project proponents in bringing their early- and late-stage projects to launch.
Seed Funding
To support the design and launch of strategic projects.
Expertise and Mentoring
Technical assistance to help get projects off the ground.
Match-making and Funding Coordination
Connecting projects to outcome funders and other strategic partners.
Mental health is one of the defining human development and societal challenges of our time. More than 1 billion people globally live with mental health conditions. Yet fewer than half receive any treatment, and in low-income countries, fewer than 1 in 10 do. This burden also falls heavily on youth: 1 in 7 adolescents are affected, and suicide is among the leading causes of death for young people. With the onset of mental health conditions occurring mostly before the age of 24, early intervention amongst youth is critical to preventing mental health issues from becoming a life-long battle. Reducing suicide mortality is also an explicit global commitment, with the suicide rate serving as an indicator under SDG target 3.4 on mental health.
Yet in most low- and middle-income countries (LMIC), systems are not built to respond. Community-based infrastructure and trained support remain scarce, conditions go undetected and untreated, and young people lack access to timely, trusted, and culturally relevant care. Median government spending on mental health remains at just 2% of total health budgets, unchanged since 2017. High-income countries spend up to $65 per person; low-income countries spend as little as $0.04.
Mental health is also not a standalone issue. Its impact extends far beyond the individual, creating substantial costs for health systems, society, and the broader economy. It intersects with education, early childhood development, and livelihoods, shaping whether people learn, work, parent, and participate in their communities. The costs of inaction are therefore felt across sectors and economies, while the returns to action are substantial: every dollar invested in scaled-up treatment for common mental health conditions is estimated to return several times its value in health and productivity gains.
The case for OBF in mental health initiatives is not simply that more funding is needed. It is that the funding which does exist rarely flows to what works or stays long enough to build sustainable solutions. By linking funding to verified outcomes, OBF aligns incentives across stakeholders, strengthens accountability, integrates robust measurement and verification, and builds the case for sustained public investment, offering a more cost-effective pathway for domestic governments to deliver better health and economic outcomes at scale. Because needs evolve over a person's life, OBF structures can also support delivery models that adapt the type and intensity of support as circumstances change, rather than locking financing to a single service.
For its fifth cohort, the Outcomes Accelerator is seeking proposals that use OBF to address these challenges, by making mental health outcomes contractible and verifiable, sharpening accountability for results, and giving domestic governments and funders a concrete reason to commit to mental health and sustain that commitment over time. This cohort is an opportunity to further test and strengthen OBF approaches that intentionally integrate mental health into broader service delivery systems, with a particular focus on youth as a target population, due to the importance of early intervention in a person’s life.
Key parameters for the scope and priorities for the Fifth Cohort of Outcomes-based Finance Projects include:
Projects or services must be delivered in or be provided for the benefit of countries and territories eligible to receive official development assistance according to the OECD-DAC List of ODA Recipients.
Priority will be given to contexts where:
The Outcomes Accelerator welcomes innovative proposals that apply OBF to achieve clear, measurable mental health outcomes. Projects may be focused primarily on mental health, or mental health may be integrated within the design of broader social and economic programs. In either case, priority will be given to projects that advance the use of mental health outcomes as payment metrics, and all projects must include mental health or psychosocial outcomes in their theory of change and measure them. Proposals that support young people (ages ~10-25) will be prioritized for this cohort, as adolescence and early adulthood are the critical window to help prevent crisis, self-harm and suicide amongst youth.
This call seeks proposals that use OBF to:
This call is open to all mental health topics and conditions; the thematic areas listed below are illustrative examples intended to signal the breadth of what is in scope. Proposals may span more than one area.
Proposals will not be considered if they:
The Outcomes Accelerator is instrument-agnostic as long as projects support the design, implementation or capacity building for an Outcomes-Based Finance approach. All projects should involve the participation of non-state actors. Private investment is not required but may be considered a bonus when it adds knowledge and rigor, and/or financial viability to the project.
Project should adhere to OECD guidance and definitions of outcomes-based finance. Instruments may include, but are not limited to, impact bonds, outcomes bonds, impact-linked loans and bonds, outcome funds, biodiversity units, nature credits and environmental market mechanisms, carbon-linked payments, innovative PES and compensation schemes, pull finance mechanisms, outcomes contracts, corporate insetting, among other tools, strategies, and approaches.
The Outcomes Accelerator welcomes initiatives across a range of maturities, from early-stage concepts and feasibility work through to projects approaching launch or scale. This approach reflects and recognizes that the mental health OBF market is still developing, and a healthy pipeline depends on supporting promising concepts at earlier stages as well as those that are further advanced. The level of evidence expected is proportionate to maturity: earlier-stage applicants should show a credible path to building traction with government partners or system actors, while later-stage applicants should be able to evidence it. Relevant signals of traction include engagement with key partners, particularly government partners or system actors, and progress toward securing outcome funding. Where it exists, evidence of support, commitment, and leadership from outcome funders, domestic government partners, and other key partners (for example, letters of support, MOUs, or official announcements) will strengthen a proposal.
Preference will be given to initiatives that:
All proposals will be objectively assessed using the evaluation criteria in the table below to support decision making and shortlist the most promising applications and EOIs. The assessment scores for proposals will remain confidential within the Outcomes Accelerator. For transparency and learning purposes, applicants may ask for qualitative feedback on their proposals that are invited to submit full proposals. The Outcomes Accelerator’s Governing Committee will review shortlisted proposals and endorse final selections.
Criteria
Description
Max Points (Total=100)
Potential Impact and Accelerator Additionality
Applicants must clearly articulate the mental health challenge being addressed, including underlying systemic barriers and unmet needs. Proposals must demonstrate strong alignment with the objectives of this Call for Proposals (detailed above) and define clear, measurable mental health outcomes.
Competitive proposals will:Proposals should also demonstrate how proposed outcomes and indicators are meaningful, credible, and aligned with the priorities of key stakeholders, particularly program participants and service providers (including youth, where relevant), and align with existing measurement frameworks where possible.
Stakeholder Support and Likelihood to Launch
Proposals must demonstrate readiness to launch – or a credible pathway to launch - backed by strong support and engagement from key stakeholders, with particular emphasis on government partners and system actors.
Competitive proposals will:Capacity to Deliver and Staffing
The Outcomes Accelerator will prioritize proposals that are innovative and have strong potential to influence broader systems and markets.
Competitive proposals will:20
100
In addition to the technical criteria, proposed budgets will be assessed separately at the Full Proposal stage with consideration for realism and price reasonableness. Indicative budget amounts for each product category are provided in the Application Guidance below.
All applications will be required to meet the due diligence and eligibility requirements of the UBS Optimus Foundation and the donors to the Outcomes Accelerator if selected.
The Outcomes Accelerator invites applications from individual organizations or consortia, including, but not limited to:
Outcomes Accelerator takes a portfolio approach, aiming to balance late-stage and early-stage concepts, a range of instrument types, and innovation level. The table below provides indicative guidance on potential uses for Pipeline Acceleration funding. It is intended for guidance only.
Product
Description
Indicative Amount
Country-focused, looks at one or more topics. This should be done in partnership with an interested outcome funder.
Early-Stage Design
Late-Stage Design
Project Scale Up
Up to US$200K
The application process is a two-step process: (1) Expression of Interest (EOI), and (2) Full Proposal for shortlisted applicants by invite only. The EOI will include an initial screening for eligibility, followed by general information about the organization(s), project details and concept, and general funding requirements.
Applications that are successful at the EOI stage will be invited to submit a full proposal, which will require greater detail about the project, including buy-in from relevant stakeholders, project risks, activities, staffing and a full budget breakdown.
Funding Application Process

Applicants can create an account to submit EOIs on the
online portal starting August 20, 2026.
The EOI submission deadline for Outcomes Accelerator support is October 2, 2026.
All questions should be sent to OutcomesAccelerator@levoca.org.
The Outcomes Accelerator was conceived by address the key barriers impeding the market and catalyze the market’s capacity to translate learning from pilots into replication and scaling of impact.
Despite this growing interest outcomes-based financing approaches, the ecosystem remains in an early-learning phase.
Most transactions are a first-of-a-kind demonstration projects, often in a specific theme or geography, with long lead times. Outcomes payers, service providers and investors confront steep learning curves as parties gain experience. Donor agencies and domestic governments in developing countries remain constrained by low capacity, limited access to the skills and expertise and a range of institutional barriers and cultural disincentives that limit that testing and use of outcomes-based approaches.

