For Immediate Release

Skoll Foundation Asset Base Climbs to $300 Million

San Jose, CA - October 9,2003 - The Skoll Foundation announced today that it has increased its asset base this year from $117 million to $300 million, and it has established core programs to support its mission: to advance systemic change to benefit communities around the world by investing in, connecting and celebrating social entrepreneurs.

"It is extremely unusual to see a larger foundation experience asset growth as rapid as that of the Skoll Foundation," said Steven Lawrence, director of research for the Foundation Center.

In addition to three new award programs, the Skoll Foundation connects social entrepreneurs with each other through its new online community called Social Edge, and is making the concept of social entrepreneurship more widely understood through efforts such as documentary films.

"By supporting social entrepreneurs, we empower individuals to sow the seeds of positive change in their communities around the world," said Jeff Skoll, who started the foundation in 1999. Skoll modeled his idea of empowering individuals to impact the social sector on a similar concept he established as the first president of eBay. "I like the idea that philanthropy can support these remarkable people. Their innovations are our best hope for a better world," remarked Skoll.

Invest: Three New Awards for Social Entrepreneurs and the Social Sector
Most of the Skoll Foundation's funding will be focused on its flagship program called the Skoll Awards for Social Entrepreneurship, which will honor mid- to late-stage social entrepreneurs around the world who are selected through a nomination process. The program, which is under development, will be launched in 2004.

A second award program currently under way, the Skoll Awards for Innovation in Silicon Valley, honors innovative, entrepreneurial organizations serving Silicon Valley.

A third program also in progress, Skoll Social Sector Capacity Investments, funds the overall health and infrastructure of the social sector through a network of partnerships.

Connect: Linking Social Entrepreneurs
Another way the Skoll Foundation is supporting its mission is through the creation of Social Edge, an online community it has created for social entrepreneurs, philanthropists, nonprofit professionals and other members of the social sector who want to network, learn from one another and share resources.

The community, located at www.socialedge.org, hosts ongoing discussions as well as regular online events with experts in the field. A recent event, called "What Does It Take to Be a Social Entrepreneur?", featured leading social entrepreneurs, academics and funders in provocative conversations on such topics as "Starbucks Does It. Why Can't We?", a discussion about the business tools social entrepreneurs need in order to succeed.

Celebrate: Publicizing Social Change
In addition, the Skoll Foundation is helping to build awareness for and celebrate the successes of social entrepreneurs. For example, the foundation has earmarked $1.7 million for a four-part television documentary honoring the work of 12 social entrepreneurs in eight countries that will be produced by Oregon Public Broadcasting. It is scheduled to premiere in 2004.

"We believe in the power of individuals to change lives and communities around the world. Our charge is to provide tools, programs and resources that show people how they can help themselves," explained Sally Osberg, president and CEO of the Skoll Foundation.

Skoll Grant Recipients
"Unlike most foundations that focus on specific areas of funding such as education or the environment, the Skoll Foundation understands that systemic change requires systemic solutions," Osberg said. "Our focus is on identifying those pioneers of social change whose approaches are having major impacts."

One Skoll grant recipient, ApproTEC, which develops and mass-markets low-cost technologies in Africa, has already enabled more than 32,000 local entrepreneurs in Kenya and Tanzania to start profitable small businesses. These businesses generate more than $35 million per year in new profits and wages, and they contribute to more than 0.5 percent of Kenya's Gross Domestic Product annually. These new businesses create new jobs and new wealth and allow the poor to climb out of poverty.

Another Skoll grant recipient, Ashoka, supports social entrepreneurs through stipends and professional services that have helped 1,300 "Ashoka Fellows" in 44 countries focus on leading social changes in education, youth development, health care, the environment, human rights, technology and economic development.

"Social entrepreneurs are not content just to give a fish or teach how to fish. They will not rest until they have revolutionized the fishing industry," said Bill Drayton, who founded Ashoka in 1980.

Definition of Social Entrepreneur
Social entrepreneurs pioneer innovations that benefit humanity. Intensely focused and highly committed, they identify and seize opportunities to effect lasting, positive social change. Ultimately, social entrepreneurs transform existing realities, opening up new pathways for the marginalized and disadvantaged, and unlocking society's potential to realize large-scale public good.

About the Skoll Foundation
Headquartered in San Jose, California, the Skoll Foundation was originally created in 1999 as a public charity by Jeff Skoll, the first employee and first president of eBay. In 2002 Skoll launched a second charitable entity, a private foundation, which is also known as the Skoll Foundation. Both organizations were founded to achieve the same purpose; together, they advance systemic change to benefit communities around the world by investing in, connecting and celebrating social entrepreneurs. Today, the combined assets of both foundations stand at approximately $300 million.

Contact:
Terry Nagel - Skoll Foundation
media@skollfoundation.org