The Resource Mobilization Challenge
THE RESOURCE MOBILIZATION CHALLENGE
Starting in June 2018, ECW launched a global challenge to seek proposals for bold ideas to help address the billion-dollar finance gap for education in emergencies and protracted crises. Close to 200 ideas were submitted, with nine finalists selected on 10 September.
THE WINNING IDEAS
Filling the massive US$8.5 billion gap in funding for education in crisis will require innovative solutions and a transformational shift in the way education is financed and deployed for children and youth living in countries affected by emergencies, conflict and displacement.
At the 22 September 2018 Global People’s Summit, the three winning ideas for prizes of US$25,000 for developing a business plan were announced by Education Cannot Wait, a global fund that works to deliver education in conflict and crisis settings, to three promising proposals that use new technologies, new ideas and new ways of thinking to mobilize funds.
Resource Mobilization Challenge Winning Ideas
- Global Investment Fund by Yasser Bentaibi, 4usConsulting, from Morocco: Waqf (charitable endowments) would invest in economic empowerment programmes. The profit generated would be used to support education in emergencies.
- Every Child Needs a School – Book Industry supports ECW by Mary Muchena-Stredwick and Rachel Stredwick from the United Kingdom: International book publishers, retailers and authors would sign-up to contribute up to 1 percent of the net sale of book purchases to the ECW Fund.
- 1-in-9 Fund by Brock Warner, War Child Canada, from Canada: Establish a publicly traded investment fund which would direct a share of the fund’s management fees to support children and youth affected by conflict and crisis. 1 in 9 children are living in a war-affected country.
ABOUT THE SELECTION PROCESS
Finalists had 10 minutes to pitch their ideas to the Challenge Jury during a livestreamed event on Friday 21 September from 7:30 am to 9:00 am (EST). Jury members then deliberate in a closed session to select the best ideas to be awarded the three $25,000 funding prizes destined to support the development of business plans.
GOAL AND DELIVERABLE
The ideas submitted to the challenge were required to be substantive and have the potential to raise at least US$50 million per year continually (or US$100 million total once, if a one-time effort). Sources allowed for the provision of grant funding as part of ECW’s continued commitment to providing equal and free education. The goal of the Challenge is to surface new and actionable ideas for large scale resource mobilization efforts with a real potential for implementation. Deliverable of the Challenge will be a unique idea and a business plan for implementation.