New collaborative to unlock the power of data for good
DAVOS, Switzerland--(BUSINESS WIRE)--
The
Mastercard Center for Inclusive Growth and The
Rockefeller Foundation today announced Data Science for Social
Impact. This transformational model for collaborative philanthropy will
accelerate the use of data science by empowering non-profit, civic and
government organizations with the tools, expertise and other
capabilities they need to help solve the world’s most pressing
challenges.
The collaborative was announced at the World Economic Forum’s Annual
Meeting in Davos, Switzerland, with an initial commitment of $50 million
from The Rockefeller Foundation and the Mastercard Impact Fund over five
years and an invitation to other companies and philanthropies to join.
More than 2.5 quintillion bytes of data are produced every day. This
abundance of data, combined with rapidly advancing analytics
capabilities, has the potential to improve the lives of billions of
people around the world. While businesses have been building and
deploying data science capabilities for many years, those on the front
lines of social good often lack the resources to do the same. However,
governments and non-profits are actively looking for new ways to advance
their efforts through applied data to allow, for example, improved
access to public transport for underserved communities or the
acceleration of disease diagnoses.
Building on The Rockefeller Foundation’s leadership in social impact and
the Mastercard Center for Inclusive Growth’s leadership on data
philanthropy and governance, the collaborative will identify key
priorities and investment opportunities to accelerate data for good,
whether that be through research, skill-building or the development of
new technology platforms. By growing the data science capabilities of
non-profit, civic and government organizations, the collaborative can
help local leaders uncover new insights and trends from their data and
build more impactful programs for the communities they serve.
“At Mastercard, we believe the digital economy needs to work for
everyone. If we can close the gap by providing the non-profit, civic and
government sectors with the tools, talent and investments they need to
apply data science effectively, then we have a shot at solving some of
the greatest challenges of our time,” said Michael Froman, vice chairman
and president, strategic growth at Mastercard. “We see a world where the
promise of technological innovation can deliver on our goal of inclusive
growth.”
“Like the introduction of science to medicine 100 years ago transformed
the delivery of health worldwide, we are poised to take the next big
leap bringing data science to social impact,” said Dr. Rajiv J. Shah,
president of The Rockefeller Foundation. “We’re excited to invite
partners from the public and private sectors to join Data Science for
Social Impact and help us inspire a new generation of social sector
leaders to use data for good.”
The collaborative’s first activity is $20 million in funding to DataKind,
a global nonprofit that harnesses the power of data science and AI in
the service of humanity that has completed over 250 projects by
deploying expert data science volunteers from their network of over
30,000 across five worldwide chapters since its founding in 2011. This
support from the collaborative will allow DataKind to transition from a
project to a platform-based model, thereby, supporting more
organizations on a set of common issues, including community health and
inclusive growth.
About the Mastercard Center for Inclusive Growth
The Mastercard Center for Inclusive Growth focuses on promoting
equitable and sustainable economic growth and financial inclusion around
the world. As a subsidiary of Mastercard, the Center leverages the
company’s data, expertise and technology, along with administering the
Mastercard Impact Fund’s philanthropic investments, to empower a
community of thinkers, leaders and innovators on the front lines of
inclusive growth. For more information and to receive its latest
insights, follow the Center on Twitter @CNTR4growth,
subscribe
to its newsletter and visit www.mastercardcenter.org.
About The Rockefeller Foundation
The Rockefeller Foundation advances new frontiers of science, data,
policy and innovation to solve global challenges related to health,
food, power and economic mobility. As a science-driven philanthropy
focused on building collaborative relationships with partners and
grantees, the Foundation seeks to inspire and foster large-scale human
impact that promotes the well-being of humanity throughout the world by
identifying and accelerating breakthrough solutions, ideas and
conversations. For more information, visit www.rockefellerfoundation.org.
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Media
Caroline Niven
Caroline.Niven@mastercard.com
914-249-1304
Matt Herrick
media@rockfound.org
212-852-8454
Source: Mastercard Investor Relations