Social Innovation Award 2015
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This year is the Macquarie Group Foundation’s 30th anniversary
We’re celebrating by offering a $300,000 award for outstanding social innovation.
Macquarie’s Australian Social Innovation Award was established in 2010 to celebrate the 25-year anniversary of the Macquarie Group Foundation. The Award recognises, promotes and rewards new ideas that work to meet pressing community social needs, alleviate disadvantage and promote social inclusion. It seeks to fund an organisation that has worked collaboratively to cut across organisational or sectoral boundaries, resulting in compelling new social relationships and positive social outcomes.
About the 2015 Award
In 2015, as we celebrate the 30th anniversary of the Macquarie Group Foundation, we know that finding valuable opportunities is not limited to Macquarie Group’s clients, our shareholders and our people. It’s also about how we can support prospects within the community sector, with progress often occurring when innovative ideas are encouraged.
That’s why, as a special one-off celebration, Macquarie’s 2015 Australian Social Innovation Award is valued at $300,000 in recognition of Macquarie Group Foundation’s 30 years of community support, to be delivered across two years in $150,000 instalments.
Applicants need to demonstrate that their organisation or program has benefited or has the potential to further benefit Australians and addresses an unmet community need. It must have been in existence for at least two years but no more than five years and be unique to other services in Australia. The Foundation recognises that social innovation is often about new combinations or hybrids of existing ideas rather than being wholly new.
The Award will fund further investment in or development of the organisation or program nominated under the Award.
- to recognise the organisation’s contribution to the community through an innovative solution that has met an important social need
- to reward the organisation for the excellence demonstrated through its award-winning initiative
- to promote the organisation’s activity in the public sphere
- to inspire organisations within the community sector to strive for excellence through the implementation of social innovation
2014 Social Innovation Award Winner: The Fogarty Foundation
Fogarty EDvance set out to scale its School Improvement Program from the 10-15% of West Australian schools in low-socio-economic communities the program was supporting to 50% of schools in disadvantaged communities by 2020 (100 schools in WA). It also wanted to develop a ‘fee for service’ model to ensure a sustainable delivery model and long-term impact. In addition, an alumni program, funded through membership fees, was also in need of development to further build the sustainability of the principals’ network.
Fogarty EDvance successfully deployed its $100,000 Award to recruit an additional 30 schools to its program, tripling its footprint to reach 48 schools, 60 principals and over 20,000 students in disadvantaged communities in WA. Feedback from school leaders during 2016 was very positive, with 100% of leaders reporting that a) they would recommend the program to other principals; b) their school had benefited from the program; and c) they felt more able to lead improvement, innovation and change in their school as a result of the program. During 2015 and 2016, 18 schools completed the program with every school seeing improvements in student outcomes.
The fee for service model is in place, with adjustments being made to contribution fees as the number of schools increases. An alumni program has also been developed and has enjoyed excellent feedback (with the first event hosted at Macquarie Perth’s offices in 2015). In 2017, EDvance will be developing a model to support schools in the regions whilst further expanding the program in metro areas.
2012 Social Innovation Award Winner: Milk Crate Theatre
Milk Crate Theatre wanted to promote its activity within the public sphere as well as provide further funding to its associate artists (people with professional cultural development or theatrical skills/experience working with marginalised communities) to enable longer rehearsal periods.
Milk Crate Theatre used part of its $100,000 award to fund its associate artists, allowing rehearsals to extend from one to two weeks. This increase meant the program had more opportunity to positively impact ensemble participants’ health, wellbeing and skills development.
As one of the ensemble artists said: “The shows have allowed me to focus on more positive things. I have a lot of quite heavy life things going on so it is a welcome distraction.”
The award money was also used to promote the shows, resulting in increased participant and audience numbers. This not only provided greater flexibility and accessibility to the program but also helped increase audience engagement.
At Macquarie we uncover the opportunities others may miss.
That’s because we know success comes from encouraging our people to think differently. Our culture promotes innovation and entrepreneurial drive within a strong risk management framework.