10x10's mission is to empower the next generation of giving. They provide the support, tools and technology to enable groups of passionate and socially-minded young volunteers to create fun live crowdfunding events.
10x10 events are run by volunteer committees who research and select three innovative, grassroots charities. They do due diligence on them so they know the charities are of a scale where the collective contribution of 10x10 will make an impact.
Once three charities have been selected the 10x10 committee then brings at least 100 people together for an evening event, each guest contributing $100 in advance - so that collectively $100 is going to turn into a minimum of $10,000. At the event, guests are then given their $100 back in the form of charity dollars or tokens to allocate these to any of the three charities throughout the evening.
Each of the three charities has five minutes to deliver their pitch in the style of the popular UK TV show, the Dragon's Den. They put their pitch to the audience and the guest ‘dragon’, a role played by prominent philanthropic Australian businessmen and women such as Mark Carnegie, Bill Ferris, Audette Exel, Kim Williams and Wendy McCarthy. The "friendly dragon" will question each charity about their pitch and business model.
When the pitches are completed, the audience decides how to allocate their charity dollars based on whose pitches or cause inspired them the most. At the end of the event, there is a call for volunteers to form the next 10x10 committee, hence the model continues to self-perpetuate and scale.
Since its inception in 2013, 10x10 has run over 72 events and raised over $2M for 187 charities. Events are run in Australia and Hong Kong, London, Vancouver, three cities in the USA, and soon in New Zealand. 10x10 also offers opportunities to run corporate 10x10 events.
To contact 10x10, join a committee, run an event or find out more visit their website.
Funder: Accenture (Australia and New Zealand)
For-purpose: Good Return
Award partners: Australian International Development Network and the Australian Council for International Development
Recipient: Foundation for Rural & Regional Renewal –Tackling Tough Times Together program