New Profit, a venture philanthropy organization that backs social entrepreneurs working to create equity and opportunity in America, has announced plans to support twenty-one innovators who are connecting young adults from low-income communities with the postsecondary credentials and work experience needed to access an upwardly mobile career.
An initiative of Learn to Earn, New Profit’s postsecondary and career strategy, Postsecondary Innovation for Equity (PIE) is a two-phase effort to surface and catalyze innovations that help young Americans from low-income communities acquire postsecondary credentials and access an upwardly mobile career without incurring major debt. To that end, New Profit will engage twenty-one grantee-partners in a learning community focused on building their organization’s measurement capacity. First phase grantee-partners will be eligible for the second phase of the PIE Initiative, to be launched in 2020, in which selected organizations will receive $1 million each to scale their impact.
PIE grantees will be identified through an open application process open and chosen through a rigorous selection process. Each of the twenty-one organizations will be awarded unrestricted grants of $100,000 over two years to build their capacity to help individuals pursue economic mobility and the American dream.
Organizations supported through PIE must primarily serve people between the ages of 15 to 30 who are high school students, recent high school graduates, learners for whom traditional colleges have not worked, or early-career workers in low-skill jobs. All grantees should be able to demonstrate a commitment to improving the way they measure and report outcomes, including graduation rate, graduate employment, and graduate earnings, as well as a holistic commitment to diversity, equity, and inclusion.
Three types of entrepreneurs will be supported: entrepreneurs who are creating new workforce-connected postsecondary programs or institutions (including established postsecondary institutions pursuing radical innovation); entrepreneurs who are architecting pathways to upwardly mobile jobs through established institutions; and entrepreneurs who are developing solutions that support innovators in the first two categories.
Funding partners for the PIE Initiative include the Lumina Foundation, the Siegel Family Endowment, Walmart, and the Walton Family Foundation.
Grant submissions are due by October 23.
For additional information, including application instructions and an FAQ , see the New Profit website.