Two DRK Grantees Win $500k in Google Impact Challenge
The Google Impact Challenge awarded a total of $5.5 million to Bay Area nonprofits this year. A panel of advisers narrowed the large pool of hopeful recipients to ten nonprofits with innovative ideas for building a better Bay Area. These ten organizations were voted on by the public and the top six organizations who gathered the most votes (“People’s Choice”) received a $500,000 grant. Two of DRK Foundation’s grantees, Kiva and The Reset Foundation, won $500,000 each.
In Oakland, nearly 90% of businesses are small businesses. These small businesses have the passion and the plan, but often lack just a small amount of capital to start or expand. With help from the grant, Kiva Oakland will crowdfund 0% interest loans for small business owners who are socially impactful but financially excluded. Over 3 years, they’ll generate $4 million in funding for 800 community entrepreneurs to build their businesses and strengthen Oakland’s neighborhoods and economy.
In the Bay Area, thousands of families are caught in a poverty to prison cycle, funneled from low-performing schools to a costly cycle of joblessness and prison. The Reset Foundation aims to break that cycle by building an alternative to prison for young adults. With help from the grant, Reset will open its first residential campus, focused on technology-supported learning, career training and social-emotional wellness. The program’s first graduates will save taxpayers nearly $20 million.
Congratulations to these two very hardworking organizations and DRK cannot wait to see how they will use their winnings to continue to grow their impact.
Read the article here.