Chicago-based rapper Chance the Rapper has launched a $2 million funding challenge with venture philanthropy fund Chicago Beyond to generate innovative ways to support the city's youth.
In a live stream on Wednesday, Chance announced that Chicago Beyond would give $2 million to the person who comes up with the best idea to help Chicago youth. The money would go to funding the project but Chicago Beyond is willing to give out multiple $2 million grants. All participants have to do to enter their idea is submit a 90 second video detailing their innovative plan of action.
Chance has recently been celebrated for his philanthropy work and most recently earned the BET Humanitarian Award. Submissions for this $2 million funding challenge are due July 7th, but beyond that, this initiative provides a great way to crowd-source innovation and launch social change.
Rapper-Led Innovation Challenges
Chance the Rapper Has Launched a $2 million Funding Challenge
Trend Themes
1. Youth Empowerment - Opportunity for innovative ideas and solutions that support and empower young people.
2. Crowdsourced Innovation - Platform for collecting a diverse range of ideas and solutions from the community.
3. Social Impact Challenges - Engagement of philanthropy and innovation to address pressing social issues.
Industry Implications
1. Social Entrepreneurship - Chance the Rapper's funding challenge offers an opportunity for social entrepreneurs to develop innovative solutions for youth empowerment.
2. Venture Philanthropy - Chicago Beyond's funding initiative creates a space for venture philanthropy organizations to invest in projects with high social impact potential.
3. Youth Development - Youth-focused organizations and programs can leverage the funding challenge to generate disruptive innovations in the field of youth development.