Mastercard and The Rockefeller Foundation Announce ‘Data Science for Social Impact’ with Initial $50 Million Commitment
January 22 2019 - 11:58AM
Business Wire
New collaborative to unlock the power of data
for good
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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NivenCaroline.Niven@mastercard.com914-249-1304
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