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"You can give a dollar for a child in a particular place that will help them to get medical attention, food or other aid, but it doesn't create system-level change or sustainable change in that environment," says a Save the Children official.
That's why the Australian charity has launched the Impact Investment Fund, which aims to change that by investing in "transformative social ventures" in areas such as health care, education, child protection, and financial inclusion in some of the world's poorest countries, the Guardian reports.
The fund, which has invested more than $30 million so far, has four priority areas: health care, education, child protection, and related areas, such as climate change and financial inclusion.
"You can't start a fund like this on a whim," says Save the Children's chief executive, Andrew Dugina.
"You need inventors and volunteers from the corporate sector to support it."
One of the fund's funded ventures, Zeraki Analytics, helps schools in rural and regional areas in Kenya analyze academic data faster.
Another, THINKMD, increases the capacity of health workers in areas with limited resources.
Dugina says the fund's decision to invest aligned with the school's desire to support the most vulnerable
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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Foundation: Victoria Foundation
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Social Entrepreneurship
Spotlight
When it Comes to Social Enterprises, Failure is the Best Platform for Innovation
In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.
