In this episode of Philanthropod, Anubha interviews Nick Fusso, co-founder of D-Prize - an organisation that supports social entrepreneurs in Africa and South Asia who are focused on alleviating poverty. Nick, along with Andrew and Paul Yuon, started D-Prize in 2013 because they believed that exceptional individuals lacked the necessary funds to launch their ideas.
Every year, D-Prize receives a staggering 6,000 applications from aspiring entrepreneurs. Nick explains the rigorous process of reviewing and evaluating these applications to select exceptional entrepreneurs who will receive seed funding. The organisation goes the extra mile to find grassroots entrepreneurs who may be overlooked by others. These unsung heroes work tirelessly to bring about change in their communities.
D-Prize's main goal is to expand access to existing interventions and maximise their impact to reach those in need on a large scale.
Nick shares some success stories from D-Prize that demonstrate the transformative power of seed funding. One such story is about Altech, an organisation in the Democratic Republic of Congo that received a $15,000 grant in 2014. This initial support acted as a catalyst for their growth, enabling them to secure additional donors and investors. Today, Altech is the largest energy distributor in Congo, positively impacting countless lives.
Another remarkable case study is Youth Impact, an organisation focused on health and education in Botswana. D-Prize came across them when their idea was still in development. Through the application process, D-Prize provided guidance and support, leading to their expansion. With the help of mobile phone technology, Youth Impact now reaches 35,000 students across six countries, improving educational outcomes and transforming lives.
Anubha and Nick discuss the key characteristics of successful social entrepreneurs. Nick emphasises the importance of believing in the impact and envisioning a better future. A well-thought-out operating model and a roadmap for scaling are crucial for success, as is the composition of the team, with local and proximate leaders more likely to achieve positive outcomes.
D-Prize takes calculated risks to ensure that talented individuals have the opportunity to unleash their potential and create lasting change. Join Anubha and Nick in this episode of Philanthropod as they celebrate the entrepreneurial spirit, discuss the keys to success, and witness firsthand how D-Prize empowers extraordinary individuals dedicated to fighting poverty and shaping a better world.
Additional links:
D-Prize website: https://d-prize.org/
Altech website: https://www.altech-rdc.com/
Youth Impact website: https://www.youth-impact.org/
Hosted on Acast. See acast.com/privacy for more information.