CASE at Duke's COVIDCAP to Support COVID Response Alliance for Social Entrepreneurs
CASE at Duke is joining a new Alliance launched by the World Economic Forum to Help Social Entrepreneurs Overcome the Impacts of COVID-19, announced May 4, 2020 in Geneva, Switzerland.
35 leading organizations form COVID Response Alliance for Social Entrepreneurs to amplify support for Social Entrepreneurs during COVID 19
USD$75 million already mobilized by Alliance members to mitigate impacts of pandemic
Alliance will feature covidcap.com searchable database of available emergency relief funds
Members to catalyze global conversation about building a more equitable, sustainable future
Thirty five leading global organizations have united to launch the COVID Response Alliance for Social Entrepreneurs, pooling knowledge, experience and responses to alleviate suffering and advance new models of change for a more inclusive, equitable and sustainable world.
Alliance Members Collectively Reach more than 1.5 Billion people in 190 Countries
Alliance members currently support more than 15,000 social entrepreneurs reaching 1.5 billion people cumulatively in over 190 countries, working to serve the needs of excluded, marginalised and vulnerable groups – many of whom have been disproportionately impacted by the pandemic. The Alliance also aims to coordinate between member organizations and amplify the support for social entrepreneurs under extreme stress by the pandemic.
Organizations in the Alliance have mobilized USD $75 million for social entrepreneurs in response to the health and economic impacts of the pandemic.
Four Key Areas of Coordination and Support
The COVID Response Alliance for Social Entrepreneurs will coordinate support for social entrepreneurs in four key ways:
Assess and highlight needs across the members’ social enterprise portfolios
Amplify and expand available financial support under a joint Alliance dashboard, and help social entrepreneurs to raise additional money to expand their work
Coordinate non-financial support provided by companies and intermediaries, such as social procurement, legal services and technological support
Advance joint communication efforts to advocate for appropriate fiscal and policy interventions relevant to social entrepreneurs
Covidcap.com will be featured and developed further as part of the Alliance.
This initiative will also feature “Covidcap.com” a new resource developed by the Center for the Advancement of Social Entrepreneurship (CASE) at Duke University. This dashboard, a searchable database of emergency funds available to non-profit and for-profit entrepreneurs during COVID-19, contains global capital relief offers worth over $1 trillion.
Over 35 Leading Organizations Joining Together for One Common Purpose
The growing list of foundations, sector organizations, multilateral organizations, private companies and non-governmental organizations joining the Alliance include Aavishkaar Group, Acumen, Africa Venture Philanthropy Alliance (AVPA), Aspen Network of Development Entrepreneurs (ANDE), Ashoka, Avina, Asian Venture Philanthropy Network (AVPN), B Lab, Bertelsmann Group/ Stiftung, Catalyst 2030, Co-Impact, Draper Richards Kaplan Foundation, CASE at Duke University, Echoing Green, GHR Foundation, Global Innovation Fund, Global Steering Group for Impact Investing (GSG), Global Impact Investing Network (GIIN), Greenwood Place, IKEA Foundation, IKEA Social Entrepreneurship, Impact Hub, KIVA, LatImpacto, Lex Mundi Pro Bono Foundation, Mercy Corps Ventures, Motsepe Foundation, NeSst, Non-Profit Finance Fund (NFF), Ripple Works, Root Capital, SAP SE, Schwab Foundation, Skoll Foundation, Yunus Social Business.
The COVID Response Alliance for Social Entrepreneurs will be supported by a secretariat hosted at the Schwab Foundation for Social Entrepreneurship, sister organization of the World Economic Forum. The development of the Alliance is supported by the GHR Foundation, and is operationally supported by Yunus Social Business, who have been co-developing the initiative.
"Covidcap.com was created by a sense of urgency for meeting the needs of entrepreneurs everywhere. We're delighted to join the Alliance, because we know that social entrepreneurs around the world work so closely with disadvantaged communities and often see their needs before others. We look forward to supporting and collaborating with the Alliance as the longer-term needs of impact organizations and their communities unfold." -- Cathy Clark, Faculty Director, CASE at Duke.