ChangeX funds are run through the ChangeX platform and are typically supported by corporates or foundations in a certain region. Generally, they are thematic e.g. Ireland Community Play Fund supported by the LEGO Foundation focused on learning through play, or Sustainability Funds in Arizona and Chicago supported by Microsoft.
The goal of ChangeX funds is to ensure that the availability of seed funding is not a barrier to the spread of impactful ideas. Ideas from the ChangeX platform are selected by the funder in partnership with the ChangeX team.
Local leaders in relevant communities apply to start a replication of that idea and once they comply with the Guidelines, Terms & Conditions and they successfully complete the 30 Day Challenge, they can access funding to get the idea started.
In some cases, funding is split between the Idea HQ to provide support and the local group to get up and running. Otherwise, funding goes directly to the local group replicating the idea. The amount of funding is dependent on the startup costs associated with that idea as well as the size of the overall fund.
We'll discuss and agree this with all idea partners ahead of the fund going live.