Business Insider: TED has launched a $250 million project to model ‘what an IPO for the nonprofit world might look like’
“…Starting this year, TED is scrapping the annual [$1 million TED prize] for something even bigger: a $250 million initiative known as the Audacious Project. Backed by funders including the Bill & Melinda Gates Foundation, the Dalio Foundation, the Skoll Foundation, and Virgin Unite, the project aims to deal with the fact that, as TED Curator Chris Anderson said, ‘Real change is expensive.’ The $250 million is spread out among seven recipients, who each presented TED with a detailed budget for their project, ranging from $30 million to $100 million. The nominees were chosen by TED this year, but the organization will allow the public to submit ideas starting next year. [Last Mile Health CEO Raj] Panjabi is one of the first recipients. The other six will be revealed at TED on April 11…” (Schwartz, 4/4).