Through their live-crowdfunding events, 10×10 has raised over $370,000 for 52 up-and-coming charities. Originally starting in Sydney, the 10×10 model has moved across Australia and into North America and Hong Kong, and now over 25 10×10 events have taken place across the globe.
10×10 operates a unique event model. 10×10 selects three innovative new charities and performs due diligence on them to ensure that they ‘are of a scale where collective contribution will make an impact’. At the next 10×10 evening event, 100 people are bought together – each donating at least $100 – and then allocate said $100 contribution (as ‘Charity Dollars’) to any one of the 10×10 pre-selected charities. On the night, the three charities must pitch – in a similar fashion to Shark Tank or Dragons Den – to the resident Dragon and to the attendees, who then decide where to distribute their ‘Charity Dollars’.
Ignition Wealth sponsored the latest 10×10 event, which was held at ClearView’s Sydney Office this August. 10×10 – with their innovative, crowdfunding format and their engagement with young professionals – made them the perfect match for Ignition Wealth. The three chosen charities for the event were The Social Outfit, Hello Sunday Morning, and Fighting Chance.
1. The Social Outfit
The Social Outfit is a social enterprise that focuses on the training and development of individuals from both refugee and migrant backgrounds. Through education in the areas of retail, marketing, clothing production, and much more, individuals are able to gain invaluable, long-term skills.
2. Hello Sunday Morning
Hello Sunday Morning is an online movement concerned with facilitating a better drinking culture in Australia. Offering two different apps – including an iPhone app to help those looking to moderate their alcohol intake, and a community platform – Hello Sunday Morning has helped to provide support to thousands of Australians.
3. Fighting Chance
Fighting Chance is a non-profit charity that creates training programs and social businesses that offer disabled Australians opportunities for skill advancement, work experience and employment.
A resounding success, over $22,000 was raised for the three charities, which had all previously pitched at an earlier 10×10 event.