To meet this commitment, GWC will:
- Explore various venues to identify and approach potential funders. GWC is particularly interested in organizations and entrepreneurs that are attempting to develop new financial models for access to water and sanitation.
- Approach aid agencies, especially those looking to engage in public-private partnerships and are able to match funding.
- Develop grants and other assistance for the selected enterprises. GWC will pass through 100% to the funds raised to the implementing organizations.
CGI will be a key opportunity for GWC to match projects with investors and to raise awareness of these innovations.
The actions implemented by GWC will benefit the enterprises identified through the Changemakers competition and their customers, who are people living at the base of the economic pyramid. GWC will undertake actions related to fundraising, disbursement, monitoring, and evaluation. The organizations or enterprises will implement the necessary actions on the ground to complete the projects and reach the beneficiaries.
Performance Metrics include:
- Two million people expected to gain access to safe drinking water or sanitation.
- 15 small and medium-sized enterprises or organizations expected to be supported with capital, grants, technical assistance, or technology.
Global Water Challenge (GWC) partnered with Ashoka's Changemakers.net to reach out to the world's entrepreneurs, challenging them to use their substantial talents and commitment to make the goal of universal access to safe water and sanitation a reality. GWC wants to connect local innovators with global investors to bring solutions to life. To further this goal, Ashoka's Changemakers.net provided an online, open-source competition to draw out the most effective ideas. The hope was to find and encourage innovative ideas and individuals, wherever they may be, so that every school, every clinic, every home, every community, without regard to geography and income, has access to these basic needs.
To spur entrepreneurs to test their ideas through the competition, The Coca-Cola Foundation put up $1,000,000 to invest in those projects determined to be the best. In the course of the competition, which ended in May, 2008, 265 entries were received from organizations and individuals in 54 countries.
Examples of the innovations submitted include:
- 'Water kiosks' to serve rural villages to provide clean drinking water sold at an affordable cost.
- The sale of carbon credits into the EU market by creating methane from latrines placed in 500 secondary schools in Rwanda, replacing unsustainably harvested fuelwood with methane from waste. The schools will also get safe drinking water, hygiene education and system maintenance for free.
- Provision of sewage collection, safe water, and electricity for 'slum networking' combining micro-finance and grants to improve the health of slum dwellers.
- Pay-for-use 'eco-sanitation' bathrooms built and maintained by entrepreneurs, providing jobs, and incomes to workers who maintain the facilities and collect the fees, as well as clean and safe toilets for the community.
Based on its due diligence, GWC has a slate of 15 projects that merit support -- equity, loans or grants. These projects from the competition will require more than the $1 million Global Water Challenge has in hand. GWC will endeavor to find the necessary funds from a variety of sources including venture capitalists, angel investors, corporations, foundations, philanthropists, and foreign aid agencies.
Global Water Challenge could use the following types of support: investment capital, financial expertise related to micro-credit, donations and matching grants, volunteer monitoring and evaluation support, business mentoring from companies that have facilities where the projects are located, media support to spread the word about successful projects, and contacts to people who could provide any of the above.