The Double Challenge Fund helps organizations to set up for themselves: offers independence to crucial social initiatives through financial and non-financial support.
As a result it helps to help others.
About the Fund:
The Double Challenge Fund is a venture philanthropy-type fund, established by the Academy for the Development of Philanthropy in Poland. Mission of the Fund is to save and support significant social initiatives in their efforts towards sustainability and stability.
Local, active organizations determined to achieve sustainability are partners of the Program.
Types of support
Non-financial support (advice/mentoring and training) and financial support (returnable and non-returnable).
How do we act?
Local community organizations may apply to Double Challenge Fund Program via the webpage. Experts of the Fund choose initiatives in the appropriate moment of their development, for whom the advisory-financial support will be crucial for achieving financial sustainability.
Preparing the idea
Initiatives evaluated positively in the recruitment process are invited to the support Program. The first stage of the program is working out the social purpose matrix and the business matrix for the initiative. Applicants prepare them with the support of the Fund experts. The main criteria for evaluation of both matrixes are: coherence and potential for sustainability of the idea.
Positively evaluated ideas are drafted individual support plans combining non-financial and financial (returnable and non-returnable) support offered by banks and other financial institutions – partners of the Program. The so called brainstorming group combined of experts in the areas of finances, marketing and law is dedicated to help each initiative.
Incubation of the project
Program participants, with the support of experts, work out the action plan and, for the next 24 months, implement their ideas. Fundraising actions involving local communities, like giving circles or swimathons are very important. Such activities increase competencies like: building partnerships or presenting ideas in the form of the so called elevator pitch.
At the end of the program participants present their concept and conclusions from the 24 month incubation period during the open summary event. Candidates to subsequent program editions may also take part in the event.