Within our activities in the venture philanthropy field we have established the Double Challenge Fund.
The Double Challenge Fund is a venture philanthropic fund that has been established by the Academy for the Development of Philanthropy in Poland. The mission of the fund is to save and support important social initiatives in the pursuit of independence and sustainability.
The participants of the support programme are active, local social organizations that work towards their independence.
Types of support
Non-financial support (advisory/mentoring and training) and financial support (refundable and non- refundable).
How do we work?
Local social organisations can register their participation in the Double Challenge Fund via the website. The Fund’s experts choose those initiatives that are timely in their development and for which advisory and financial support will be important in the path to financial autonomy.
Preparation of the idea
Initiatives which have successfully passed the recruitment stage are invited to participate in the support programme. The first stage of the program is to develop a matrix of the social goal and business matrix for the initiative. Participants shall develop them with the support of the Fund’s advisors.
The matrices are then evaluated by the Fund’s experts. The main evaluation criteria are consistency between the two matrices and the potential for sustainability and self-reliance of the idea.
For the ideas evaluated positively, an individual support plan is prepared, consisting of non-financial support (advisory/mentoring and training) and non-refundable and repayable financial support offered by banks and other financial institutions – partners of the Programme. For each initiative, a group of advisers is established, composed of experts in the fields of finance, marketing and law.
Program participants, with the support of experts, create a detailed action plan and then implement their ideas within 24 months. It is important that participants carry out fundraising activities involving the local community, such as giving circle and swimathons. Actions of this type help in shaping competences such as, among others, the ability to build partnerships, or the ability to present an idea in the form of an elevator pitch.
At the end of the program, participants take part in an open closing event during which they present their ideas and conclusions from the 24-month incubation phase to investors. Candidates interested in participating in the next edition of the programme may also attend the meeting.
More information about the Program – Double Challenge Fund website
What’s more we are a member of the European Venture Philanthropy Association (EVPA) and in 2018 we are going to be a partner in the EVPA annual conference that will take part in Warsaw.