philanthropyOz Blog

Macquarie Group Foundation launches David Clarke Social Innovation Fellowship & Award

The Macquarie Group Foundation yesterday announced the launch of the inaugural David Clarke Social Innovation Fellowship. Established in memory of the former chairman of Macquarie Group and the Macquarie Group Foundation, the late David Clarke, the Fellowship provides the CEO of an Australian not-for-profit organisation with a grant of up to $A20,000 to visit and research best practice social innovation around the world.

In launching the Fellowship, Macquarie Group Foundation Chairman Richard Sheppard said: “David will always be remembered for fostering innovation to meet pressing social needs, alleviate disadvantage and encourage social inclusion. We are proud to establish the David Clarke Social Innovation Fellowship as a tribute to one of the pioneers of corporate philanthropy in Australia.”

The Macquarie Foundation today also called for nominations for the Macquarie Social Innovation Award.

The Award will be provided to an Australian not-for-profit organisation or program that addresses an unmet community need. Like the Fellowship, it recognises, promotes and rewards ideas that address social needs, and encourages lateral thinking about community issues.

The recipient of the Macquarie Social Innovation Award will receive $A100,000 over two years to fund further investment in, or development of, their program.

The head of the Macquarie Group Foundation, Lisa George said: “We recognise that innovation is essential for successfully addressing long-term community problems. The path to innovation may require trialling a number approaches that may need to be tested and, in the end, social innovation is often about new combinations or hybrids of existing ideas rather than being wholly new.”

Mr Sheppard added: “We hope the Award and Fellowship will cement the winning organisations’ abilities to develop their program further and motivate other not-for-profit organisations to consider how they can innovatively deliver services to those in need.”

The nomination period for the biennial Macquarie Social Innovation Award and David Clarke Social Innovation Fellowship closes on the 28th of September 2012. The winner will be announced in December 2012. Award application, criteria and eligibility can be found on www.macquarie.com/foundation.