Skoll Foundation Announces New Gift of $100 Million from Jeff Skoll to Fight COVID-19
PR83792
PALO ALTO, California, April 25, 2020 /PRNewswire=KYODO JBN/ --
-- Gift Follows a Doubling of Current Grants to Total $200 Million
Committed to Date
This week, Jeff Skoll made a new $100 million gift to the Skoll Foundation,
which it will use to fight the COVID-19 pandemic globally. This new
contribution will enable the Foundation to quadruple its grantmaking in 2020 to
$200 million. Nearly all new grants will address the direct- and second-order
public health, economic, and social effects of the pandemic.
Photo - https://mma.prnewswire.com/media/1159457/JeffSkoll_highres.jpg
"In 2019, the Skoll Foundation paid out $51.8 million in grants. These new
commitments have nearly quadrupled the organization's work compared to last
year," said CEO Don Gips. "Jeff is giving us the fuel, vision, and inspiration
to run both a marathon and a sprint as we do our best to make a difference
where we can. It is a responsibility we feel deeply humbled to carry out."
The Skoll Foundation will deploy the $100 million gift in two priority areas:
Epidemiological Tools Including COVID-19 Testing and Contact Tracing: COVID-19
testing is an essential part of a comprehensive strategy to get people safely
back into society—particularly serological or other tests that can assess
whether someone has been previously infected and has developed antibodies that
render them effectively immune for some period of time. Serological testing is
also expected to be an essential building block for developing a blood donation
program that would enable the collection of antibodies from individuals with
immunity. These antibodies could then be used as a treatment for patients
actively fighting COVID-19.
Contact tracing allows for a more targeted approach to finding people who are
infected, isolating them, and more quickly identifying those who have
encountered an infected person. The Skoll team is immersed in the emerging
research related to testing and tracing and will invest in promising
entrepreneurial approaches in this space.
Respiratory Devices and Other Equipment in Low- and Middle-Income Countries:
Given that many patients with COVID-19 require respiratory assistance,
respiratory devices such as ventilators have become some of the most
sought-after medical devices in the United States. In other parts of the world,
however, ventilators may not be the most effective solution, as the vast
majority of patients may not seek care in formal hospital settings. In some
cases, basics such as electricity will not be available. Alternative
respiratory devices that meet medical needs in lower resource settings are
needed immediately. The Skoll team is researching a range of emerging designs,
as well as manufacturing and supply chain issues.
The Skoll Foundation has been active in funding the COVID-19 response since
January. A full list of grants to-date are available here (
). Additionally, the Foundation is making targeted emergency funding to its
grantees most in need of support, to pivot their business models and ensure
safety of their teams and the people they serve. More on the Foundation's
response here (
).
Skoll expressed that his total commitments to COVID-19-related work may reach
$500 million in 2020 across a range of initiatives. The work of his collective
organizations—the Skoll Foundation (
), Capricorn Investment Group (
), and Participant (
) -- will evolve as the impacts of the pandemic are better understood over the
coming months.
"I'm in a fortunate position, I believe, to help, given the scope of my various
organizations across the pandemic field, the non-profit space, the media world,
and the investment side," said Skoll in a recent interview. "At this moment we
need to put the virus first and be smart about how we go about getting back to
'a new normal.' It will be a different but new normal. It is essential that we
realize that we are all in this together and tackle this as a global community."
About the Skoll Foundation
The Skoll Foundation drives large-scale change by investing in, connecting, and
celebrating social entrepreneurs and the innovators who help them solve the
world's most pressing problems. Founded by Jeff Skoll, the Foundation's
signature program is the Skoll Award for Social Entrepreneurship. Today, the
Foundation's portfolio includes 116 organizations and 144 social entrepreneurs
around the world. Learn more at skoll.org
Source - The Skoll Foundation
CONTACT: Teresa Guillien, 1.206.422.3848, Teresa@resource-media.org; or Suzana
Grego, sgrego@skoll.org
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