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Innovation Fund Round 2: Competitive Grants For Venture Philanthropy

Alliance for Global Good Funding Supports Nonprofit Mission and Sustainability

GREENSBORO, N.C., April 1, 2013 /PRNewswire-USNewswire/ -- Building upon the success of its 2012 launch, the Alliance for Global Good today announced the opening of the Second Round of competition for grants from its Innovation Fund.  Venture philanthropy grants of up to $90,000 will be made to support nonprofits in implementing mission-relevant, revenue generating strategies.

"The tremendous diversity of our first round grantees—which ranged from the pursuit of organic certification for nuts grown in the High Atlas Mountains of Morocco so as to multiply gross revenue many times over, to an order of Catholic Nuns running a cyber cafe in the Congo—points up the immense need for this type of grantmaking," said David Brand, AFGG's president and CEO.

Designed to benefit medium-sized, US-based nonprofits that work on solving global problems, the Innovation Fund was announced at AFGG's Inaugural Bipartisan Conference on Innovation in Giving & Philanthropy in November 2011, developed through market research that confirmed the dearth of similar resources, and endorsed by 10 presidents of leading global nonprofits. 

"The Innovation Fund seeks neither to create new organizations nor to speculate about innovation," said Dr. Susan Raymond, Executive Vice President of Changing Our World and Founding Director of the Innovation Fund.  "Applicants must have a mature strategy for concrete initiatives that will be implemented by Fund grants, and demonstrate that in traditional business models."

The Request for Proposal and online application are currently available on the AFGG website. Proposals are due May 31, 2013 and will be reviewed and scored by an AFGG-appointed, independent panel of experts from the venture capital, philanthropic and academic sectors.  Awards are anticipated in early fall 2013.

About the Alliance for Global Good Founded by philanthropist Leonard Kaplan out of concern for global crises that threaten succeeding generations, the Alliance for Global Good realizes the maxim that "the whole is greater than the sum of its parts." Focusing more on how philanthropy is practiced rather than on any single cause or need, the Alliance promotes philanthropic efficiency and effectiveness.  Five guiding principles—innovation, collaboration, leverage, sustainability, and scalability—are used to evaluate and engage in opportunities to improve world relations thru advances in health, education, poverty alleviation and the environment.  www.afgg.org

CONTACT:Jerry Chasen305 527 4143| jchasen@afgg.org

SOURCE Alliance for Global Good

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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