Echoing Green Seeds Twenty New Organizations And Tops $25 Million Invested In Social Change Since 19
Thursday, August 9, 2007
The bold and creative spirit of these entrepreneurs underscores Echoing Green’s commitment to support undiscovered leaders who can make a real difference in our world,” said Dr. Cheryl Dorsey, President of Echoing Green. “These fellows come to us with passion and drive; we then provide the early stage funding and vast network of social entrepreneurs to help them secure sustainability and more quickly achieve the impact of their ideas. As the newest example of its twenty year and more than $25 million commitment to social entrepreneurs, Echoing Green announced today its 2007 fellows. The group, selected from among nearly 900 applicants, includes twenty organizations whose founders have crafted breakthrough ideas to confront some of the world’s most deeply entrenched social problems. Through their newly created organizations, the fellows aim to spark social change in more than a dozen countries spanning five continents.
Echoing Green is one of the only organizations solely dedicated to investing in early-stage social entrepreneurs. The organization maximizes the likelihood of success for nonprofit innovators by providing up to $90,000 over two years, plus comprehensive technical assistance and consulting support.
Among the most prominent issue areas addressed by the 2007 fellows are redevelopment in New Orleans, energy and water sustainability in the developing world, and education reform. Examples of the social ventures initiated by the 2007 Echoing Green Fellows include:
The bold and creative spirit of these entrepreneurs underscores Echoing Green’s commitment to support undiscovered leaders who can make a real difference in our world
* U.S. Public Service Academy: Establishing the nation’s first public service academy to stand alongside the military academies and focus on preparing young Americans to pursue careers in public service.
* Green Power: Creating affordable hydro-electric power systems owned and operated by rural Kenyan communities that previously did not have access to electricity.
* CentsCity: Building an online virtual city that strengthens young people’s ability to become financially savvy adults and increases their possibilities for success.
* Mobile Metrix: Transforming the lives of the world’s uncounted poor by employing local youth to use mobile technology to gather demographic data from those living on the margins of society.
* Video Volunteers: Creating a global media industry for disenfranchised communities as a tool to educate, connect, and empower individuals throughout developing nations.
Echoing Green was founded in 1987 on the belief that the same entrepreneurial spirit that has driven the U.S. economy can also foster new solutions to complex social problems all over the world. By applying the principles of private investing to the social change sector, Echoing Green has nourished nearly 350 initiatives. A recent study found that fellows have raised close to $1 billion in additional funding, delivering a return on investment of approximately forty-four times Echoing Green’s seed funding.