It is well documented that about 30% of grant funding and foreign aid never reaches its intended target. Many other grant programs struggle with similar waste and abuse.
This means that each year, 30% of two trillion ($600B USD) is misused or lost due to fraud, waste and abuse.
Additionally, a lack of equitable access to grant funding often results in poorly developed solutions or, in some cases, communities that never receive any solution at all.
Grant funding is critically important capital within a democratic society that funds humanitarian efforts,science & innovation, and economic development.
We cannot let it continue to flounder under a distribution ecosystem and infrastructure that promotes inefficiency and inequity. We must keep this capital operational and fully optimized at this critical moment in history.
At @opengrants_io we have seen the catalyzing power of capital when placed in the hands of people who have an effective solution in addition to the love and trust of their communities. We have also witnessed firsthand how no amount of capital can solve a lack of trust.
Grant giving must no longer be about the grantor. It must become about the work of the recipient.
With all of the aforementioned in mind, our approach to impact runs along the following key points. We believe that by fundamentally transforming the way grant funding is accessed, we can preserve democracy and accelerate progress toward the @UN SDG's.