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Draper Richards Kaplan Foundation Funding For Social Enterprises

Foundation

The Draper Richards Kaplan (DRK) Foundation is calling for applications from social entrepreneurs with dynamic ideas to apply for its 2020 funding program. This is with the aim to dramatically improve the lives of people and the world around us through innovative strategies, systems changing approaches, and disrupting technologies.

See Also: 100 Profitable Business Ideas For Aspiring Entrepreneurs And Investors

Basically, the goal is to find social entrepreneurs with dynamic ideas and nurture them at the early stages with maximum leverage and total commitment.

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

Majorly, prospects for the DRK Foundation portfolio of social enterprises come from a vast field of compelling ideas and dedicated leaders. It concentrates selection on the capabilities of the founder/leader, the scalability of the model, and the potential impact of the organization on the world.

The foundation has an open application process and accept applications year-round. Borrowed from its venture capital legacy, DRK Foundation finds exceptional entrepreneurs, provide them with 3 years of unrestricted capital (totaling $300,000), and provide rigorous on-going support by joining their board of directors for the 3 years and partnering with the leader to help them to build capacity in their organization and scale their impact.  

Who Can Apply For Draper Richards Kaplan Foundation Funding?

The funding program is for;

Exceptional entrepreneurs
The foundation seeks out entrepreneurs who exhibit characteristics of extraordinary leadership: vision, intelligence, influence, ambition, discretion, and follow-through. DRK entrepreneurs have proven track records that demonstrate a full spectrum of competencies.

See Also: Facebook Small Business Grants Programme For Small Businesses

Potential to scale 
To affect meaningful change upon the major challenges of time, there is a need for big solutions to big problems. The foundation supports social enterprises — non-profit, for-profit, and hybrid organizations — that can expand enough to directly benefit a large number of beneficiaries and impart enough momentum to influence broader systems that encumber progress. Scaled organizations act as models to other groups in the sector and have the clout to affect policy, public opinion, and economies.

Sustainable Impact
The foundation looks for leveraged solutions that will create lasting positive change. Look for game-changing ideas that create better opportunities and outcomes for the future.

Draper Richards Kaplan Foundation fund:

Basically, the fund is for

  1. Leaders tackling important social issues that can make a difference in the lives of many.
  2. Models that have the likelihood of scaling.
  3. Social enterprises in the early stages of their development where DRK involvement (financial, as a board member, and through other support) can make a real difference.
  4. On average, organizations are 1-3 years old and the leader is prepared to execute an ambitious plan.
  5. Social enterprises that are national or global in reach and/or social issues.
  6. Domestic (U.S.) and international organizations.
  7. Non-profit, for-profit, and hybrid social enterprises.

See Also: The African Union Commission – Innovating Education In Africa Expo 2020

However, the initiative does not fund:

  1. Community-based organizations with no interest in scaling.
  2. Organizations whose sole focus is on the development of research.
  3. Programs promoting religious doctrine.

Ineligible Social Enterprises

There are some common reasons social enterprises are not considered eligible for the DRK Foundation funding. So, you will not be considered for funding if your;

  1. Organization is no longer at the early stages of its development.
  2. Organisation is local in scope, focused on a small region with no plan to expand its reach or service area.
  3. Your organization is a program of a larger organization, rather than a stand-alone entity.
  4. You do not choose to make building the social enterprise a full-time commitment.
  5. Your idea is not unique or is a replication of a program that already exists.
  6. Your idea is unfocused. The social enterprise is trying to solve too many problems or is using too many models and programs to achieve its goals.
  7. Idea and/or implementation strategy lacks clarity. The plan is not comprehensive or is hard to understand.
  8. The scaling plan is not viable. The revenue model or operational model is not sustainable.
  9. Your idea will not create systemic social change. The solution presented does not address root causes or deliver enduring benefits.
  10. There is not a solid plan to measure outcomes.
  11. Your model does not have the potential for large-scale (national or global) impact.
Go from idea to starting your business in 30 days
Go from idea to starting your business in 30 days

See Also: Femme Politics Incubator Program 2020 Cohort 1 For Young African Women

The deadline for submission is 30th September 2020. If you operate a social enterprise and you meet up the criteria, you can read more to apply using the link; https://www.drkfoundation.org/apply-for-funding/

Let’s create visibility for your brand today and put your business on the world map. Contact us today to make your brand the preferred choice among our audience of entrepreneurs and business leaders.

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