Palladium Announces "Let's Make It Possible Grants Challenge Fund"
Calls for Applications from Around the Globe from Interested Organisations
Dubai, UAE – 19 May 2016 – Palladium, a company in the vanguard of the impact economy, announced today the “Let’s Make It Possible Grants Challenge Fund” and issued a call for applications to organisations of all sizes, particularly those which demonstrate high levels of innovation and the ability to scale programs successfully. Full information can be found at www.letsmakeitpossible.com.
Founded, organized and managed by Palladium, Let’s Make It Possible is an initiative that provides direct financial support to innovative positive impact initiatives across the globe. To underscore the importance of this corporate social responsibility platform and initiative, Palladium has committed annually to contribute 1.5% of Palladium Profit Before Tax to Let’s Make It Possible of which at least 95% will be spent directly on activities.
Kim Bredhauer, CEO and group managing director, said, “With the board of directors and grant selection committee now in place, Palladium is delighted to launch our Grants Challenge Fund and encourages any interested organisation with an innovative idea to submit an application for consideration. By delivering positive impact solutions, Palladium is committed to improving communities, businesses, and the lives of millions of individuals across the globe and we’re proud of the Let’s Make It Possible platform as a means to supporting that mission.”
Let’s Make It Possible will fund specific initiatives according to an annual theme; the current theme is the Impact Economy, which is described here. Under the Grants Challenge Fund, Let’s Make It Possible will solicit and assess specific activities pursuant to guidelines which can be found here. The Grants Challenge Fund application is a two-stage process in which interested parties will submit a short concept note (due by 12 June) outlining the basic details of the proposed idea and, if shortlisted, a business plan (due by 28 July). Awards will be announced in August.
Among many potential uses, the funds could be used for activities such as:
- Piloting of new technologies and innovative approaches
- De-risking start-up ventures
- Buying outcomes from innovative financial mechanisms (e.g. development impact bonds)
- Supporting the convening of innovation challenges (e.g. hackathons)