Sunday, May 31, 2009

$50 Million Social Innovation Fund To Target Education, Health, Economy

First Lady Michelle Obama outlined education, health care and economic opportunity as three focus areas for the administration’s efforts to promote social innovation and entrepreneurship as a means to solve some of the nation’s problems.

Those themes will key the $50 million Social Innovation Fund approved as part of the $5.7-billion Edward M. Kennedy Serve America Act, signed by President Barack Obama last month.

"The idea is simple: to find the most effective programs out there and then provide the capital needed to replicate their success in communities around the country that are facing similar challenges," Obama said. "By focusing on high-impact, result-oriented nonprofits, we will ensure that government dollars are spent in a way that is effective, accountable and worthy of the public trust."
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