Disclosure NewswireTMiCrowdNewswire - Aug 22, 2016
NEW YORK, NY, August 22, 2016 –Éclat Impact, the global impact investing marketplace for investors seeking compelling investment opportunities in enterprises that also provide important social and environmental benefits, today announced that Bracebridge H. Young Jr., it’s Chief Executive Officer, will serve as an evaluating judge for a new competition launched earlier this year that will award a $100 million grant to a single proposal designed to help solve a critical problem affecting people, places, or the planet. The John D. and Catherine T. MacArthur Foundation’s competition, called 100&Change, is open to organizations working in any field of endeavor anywhere. Applicants must identify both the problem they are trying to solve, as well as their proposed solution. Competitive proposals will be meaningful, verifiable, durable, and feasible.
“The MacArthur Foundation’s 100&Change competition is the kind of innovative, bold action we need, to inspire real solutions to some of the most pressing challenges facing our society today and in the years ahead,” said Bracebridge H. Young, Jr. “At Éclat Impact, we fervently believe that we will need bright ideas like 100&Change and collaboration from across the public-private spectrum to identify and finance solutions that can meaningfully address our society’s problems, so I am honored to participate in this program.”
As a judge for 100&Change, Mr. Young will evaluate valid proposals randomly assigned to him according to a strict set of criteria designed to favor proposals that maximize measurable impact in their chosen areas. More information about the judges and their evaluation methodology will be shared publicly via the competition website, www.100andchange.org. Participants submitting valid proposals will receive feedback from the judges.
Mr. Young joined Éclat Impact in 2016. Previously, he was Chief Executive Officer and a Partner at Mariner Investment group for 15 years. Mr. Young joined Mariner from Goldman Sachs, where he retired as a Partner after a 20-year career in fixed income in New York, Tokyo, and London. He serves as Board Chair of GWAVE, a wave based renewable energy company and serves on the Advisory Board of Greentech Capital Advisors. He is the Chairman of the Board of Trustees of Buckingham Browne & Nichols, a coeducational day school in Cambridge, Mass. Mr. Young is also the Chairman of the Board of Directors of Social Finance, Inc., a Boston-based nonprofit organization dedicated to mobilizing investment capital to drive social change.
“Solving society’s most pressing problems isn’t easy, but we believe it can be done,” said MacArthur President Julia Stasch. “Potential solutions may go unnoticed or under-resourced and are waiting to be brought to scale. Every three years, we plan to award $100 million to help make one of these solutions a reality. Through 100&Change, we want to inspire, encourage, and support other people’s ideas, in our hometown Chicago, across the nation and around the world, about how to address major challenges and enable real progress toward a solution.”
100&Change will consider applications from across the United States and around the world. Nonprofit and for-profit organizations can apply, subject to eligibility rules. The competition will not accept applications from individuals or government agencies.
“We believe that 100&Change can have a ripple effect beyond what a single $100 million grant enables,” said Cecilia Conrad, MacArthur’s Managing Director leading the competition. “Setting audacious goals is inspiring. Clear evidence of impact can encourage other funders to invest in solvable problems more broadly, and applicants who do not receive the $100 million grant will still receive valuable feedback on and attention to their ideas.”
To participate, applicants must first register on the website by September 2, 2016. Then they must complete a substantive online application, detailing the problem, solution, and budget, along with posting a video pitch. Proposals will be accepted through October 3, 2016. Semi-finalists will be announced in December. Each semi-finalist will receive assistance from an expert team to identify and address questions about technical and organizational capacity required to implement each proposed solution, including specific plans to monitor, evaluate, and learn during implementation. Each semi-finalist will also be asked to show significant, authentic engagement with affected communities. MacArthur’s Board of Directors will select finalists in the summer of 2017. Finalists will present their solutions during a live event in the fall of 2017, after which the Board will make the final decision about the $100 million grant recipient.
Éclat Impact is the trusted global impact investing marketplace for investors seeking compelling investment opportunities in enterprises that also provide important social and environmental benefits. Our institutional quality digital platform is designed to allow investors to source, due diligence and transact with ease and confidence. We provide the market infrastructure needed to execute and manage transactions and deal flow in the primary and secondary markets. Through partnerships and collaboration, Éclat Impact centralizes the ecosystem of smart investors, innovative companies and thought leaders who are aligned in seeking financial growth and positive change.
The MacArthur Foundation supports creative people, effective institutions, and influential networks building a more just, verdant, and peaceful world. MacArthur is placing a few big bets that truly significant progress is possible on some of the world’s most pressing social challenges, including over-incarceration, global climate change, nuclear risk, and significantly increasing financial capital for the social sector. In addition to the MacArthur Fellows Program, the Foundation continues its historic commitments to the role of journalism in a responsible and responsive democracy; the strength and vitality of our headquarters city, Chicago; and generating new knowledge about critical issues. More information is at www.macfound.org.
For more information on Éclat Impact, visit www.eclatimpact.com or contact us at [email protected].
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