Panel, Conference Presentation
Philanthropy Now: Prizes, Purpose, People
- Jim Potofsky anticipates a panel that challenges current philanthropic approaches and plans to engage the audience regarding the use of prizes, noting varying levels of adoption among attendees.
- Andrew Forrest expects to establish an executive company with a board representing Muslim and Christian interests to address slavery, aiming to free individuals and transform them into for-profit workforce centers while pursuing global literacy goals for one billion people, with implementation locations currently being evaluated between Africa, Asia, or a single country due to funding.
- Dick Merkin projects that crowdsourcing health solutions and incentivized competitions will save billions of dollars, citing a $3 million health algorithm prize that attracted a 10-to-1 entry ratio and $39 billion in potential value, while also foreseeing the development of new industries and the application of business skills to cure diseases like leukemia, pancreatic cancer, and prostate cancer to convert care dollars into cure dollars.
- Tsitsima Siwa plans to leverage a network of 8 million customers in Zimbabwe to reach 1.5 to 2 million people with a cell phone project and intends to distribute affordable tablets to students for three to five years, expecting to eventually transition projects to community champions while the foundation remains an investor.
- George Weiss expects the "Say Yes" education program to expand to two additional larger cities with a projected reach of 250,000 children, anticipating a 50% reduction in Syracuse's juvenile crime rate and higher retention rates in private colleges compared to the 68% national average.
- Jean Case expects three micro-donation platforms funded by her foundation to unleash nearly $2 billion in additional giving and anticipates that incentivized competitions for NIH patents could result in a cure for Alzheimer's, while planning to publish findings to help other organizations replicate successes like the Merck diabetes prize.
- Multiple speakers anticipate that the "Say Yes" program can lower teen pregnancy rates from 50% to approximately 3% by starting value inculcation earlier, revitalizing the city, and addressing high school guidance counselor shortcomings, with the expectation that 90% of students in private colleges in Syracuse will remain enrolled.
- Dick Merkin and Jean Case expect that collaboration among foundations, governments, and faith groups—specifically to end slavery and accelerate medical cures like those for breast cancer and Alzheimer's—will overcome historical "not invented here" syndromes and inefficiencies, with Merkin noting that Walk Free has a serious chance of creating such a collaboration.
- Jean Case expects that companies like Pepsi and Chase have expanded the scale of their price competitions based on training derived from the Case Foundation, and anticipates that a model involving 100 companies licensing patents for $2,000 payable only upon commercial viability could generate significant impact.
- Tsitsima Siwa expects the lantern initiative to generate income for her husband by charging cell phones, while anticipating that providing light to thousands of children will allow them more time for play and socialization to become healthy employees, thereby changing mindsets and opening opportunities.
- Dick Merkin asserts that philanthropy alone is not sustainable and that business must play a huge role in creating for-profit solutions, citing the transformation of freed slaves into micro-business owners and the potential for global literacy prizes to create for-profit centers, while also noting that only about three thousand suppliers were found in his supply chain audit where slavery was discovered.
- Speakers emphasize that engaging businesses and asking difficult questions regarding integrity can lead to reactions and stronger coexistence between philanthropy and business, with Merkin noting that intent must be paired with the right application to avoid harm and achieve impact.
- Dick Merkin expects that the "Right Application" of resources is essential for achieving intended impact, referencing the need for senior executives to react to questions about the "Soulful Economy" and the importance of providing a hand up rather than just aid.