- Alquity, convened by Philanthropy University, launches the Transforming Lives Awards to identify & support outstanding nonprofits & social enterprises delivering sustainable livelihood initiatives across Asia, Africa & Latin America
- Awards process supported by business leaders such as Virgin Group's Sir Richard Branson and Unilever's Paul Polman
- Interested organizations should apply by October 31st, for their chance at up to $100,000 in funding
The Transforming Lives Awards identifies and supports excellent nonprofits and social enterprises driving sustainable livelihood programs across Asia, Africa and Latin America
OAKLAND, Calif., Oct 17, 2018 /PRNewswire/ -- Nonprofits and social enterprises have two weeks left to begin their pre-application process for the Transforming Lives Awards - a new initiative founded by Alquity and convened by Philanthropy University to find and fund organizations supporting growth in sustainable livelihoods and the achievement of UN SDG 8; economic growth and decent work for all.
The Awards offer new paths to capital, profile and expert advice so that winners can invest in their futures and the futures of those they serve.
The pre-application period started on October 1, and ends October 31, during which time interested entrants are invited to submit short and long-form questionnaires about their organizations. The process also involves a first-of-its-kind peer assessment that sees local organizations' participation in the vetting process.
Award winners will receive between $25,000 to $100,000 in funding. Critically, the winning organizations will demonstrate a pathway to a sustainable funding model, even if their current model requires donor funding.
"We at Philanthropy University are reimagining capacity building for the digital age," said Connor Diemand-Yauman, CEO and Co-Founder of Philanthropy University, "and that includes connecting local organizations to funding opportunities through our learning platform. This awards program also pioneers a tech-enabled participatory approach, more deeply involving, and recognizing, local organizations as the experts and leaders."
"Alquity's vision is to be a thought-leading 'shared values' business by generating economic value in a way that also produces value for society by addressing its challenges," said Paul Robinson, Founder of Alquity. "The Transforming Lives Awards will be the catalyst for increasing our impact through uncovering organizations delivering sustainable solutions and supporting more equitable economic development across all of our key emerging markets."
"Alquity and Philanthropy University have launched an exciting initiative to identify the most innovative and scalable models to promote economic growth in developing countries," said supporter Sir Richard Branson, Founder of Virgin Group. "I look forward to seeing the organizations which emerge from the program as they strive to help make greater progress towards ending poverty around the world."
A total of 120 organizations will be selected to move on to a formal application process, when they will be assessed by an esteemed judging panel that includes Unilever CEO Paul Polman and Hilde Schwab, Founder and Executive Chairperson of the World Economic Forum and Chairperson of the Schwab Foundation for Social Entrepreneurship.
"I am delighted to join the judging panel for the Transforming Lives Awards," said Schwab. "Social entrepreneurship has the potential to deliver meaningful change for underserved communities by applying the ambitions, determination and strategic approach of business to solve serious social issues. Building sustainable livelihoods is the backbone of creating inclusive societies that provide opportunity for all."
The winners will be announced at a global awards event in Summer 2019, following an extensive assessment and due diligence process.
Currently totalling $600,000, the awards will fall into three categories:
Nonprofit High Impact: for organizations that can demonstrate strong management practices and measurably strong results through programs designed to support the economic empowerment of their communities.
Nonprofit High Potential: for organizations that can demonstrate potential to scale livelihoods focused programs.
Small and Medium Enterprise and Social Entrepreneurs: for enterprises employing sustainable business models to address social or environmental challenges, or indeed visionary start-ups with a viable and scalable business plan.
Award winners will come from target countries in three regions:
Africa: Egypt, Ghana, Kenya, Morocco, Nigeria, South Africa
Asia: China, India, Vietnam
Latin America: Brazil, Chile, Peru, Mexico
There will be at least one award given in each region.
Award winners will be focused on achieving UN SDG 8; economic growth and decent work for all.
Alquity is donating the initial $600,000 of awards money and funding the costs of the awards. The business is looking for opportunities to increase this funding by bringing additional partners into this community of excellence.
About Philanthropy University
Philanthropy University is a free online learning platform that provides locally-led organizations in the Global South with access to practical courses, knowledge-share discussions and funding opportunities so they become more effective in their work. Our easy-to-use University blends expert instruction with engaging content to unlock potential and impact, on the ground.
Alquity is an asset management business investing in high-growth markets across the world. Its goal is to connect investors to their investments and social progress in order to deliver better financial outcomes for all. Its investments target attractive returns across Africa, Asia, and Latin America through portfolios that include transparent companies, with effective management that is aligned with shareholders. Alquity funds are therefore responsible by design, targeting consistent out-performance whilst contributing to long-term growth.
Alquity donates a minimum of 10% of its management fees to development projects in the regions in which it invests. In this way, the business aligns the values of investors, employees, holdings and communities – uniting them with the fundamental belief that these shared values are key to achieving enduring financial and societal success.