Chronicle of Philanthropy covers Emergent Ventures
Here is the very good Alex Daniels story, here is one excerpt:
One of the benefits of receiving a grant from the center’s Emergent Ventures program, Cowen says, is that grantees will have access to a brain trust associated with the center and with his own well-established contacts among Silicon Valley’s tech elite. Cowen, a highly regarded economist who writes daily on his popular blog Marginal Revolution, doesn’t envision supporting a lot of traditional nonprofits. Instead, he tells the social entrepreneurs interested in applying that it’s OK to score a profit from their idea, calling a quick path to self-sufficiency a “feature, not a bug,” of any plan.
But the thrust behind Emergent Ventures isn’t ideological Cowen says. He’d simply like to get money out the door as quickly as possible to people who have a vision and need some support to bring those big ideas to fruition.
It’s a clear departure from what’s currently in fashion among institutional donors. Foundations often spend long hours tinkering with strategies to change broad societal systems. Some require grant applicants to enter monthslong challenges that are open to public input. Grant makers develop “scans” of the players involved in various social issues, employ consultants to develop measurements to determine success, and set up “feedback loops” to hear from other organizations and beneficiaries of grants.
Emergent Ventures may offer some insight, he says. So, too, could a philanthropy guided by public intellectuals with other perspectives, including Malcolm Gladwell, Paul Krugman, and Steven Pinker.
“I want to see a dozen or 20 other people set up their own version of this,” he says. “I’ll consider this a success if we’ve inspired people to do something similar.”
There is more at the link.