Monday, April 16, 2007

Gates Foundation Grant to IDE

IDE (International Development Enterprises) is a non-profit my friend Barry told me about several months ago. Tonight Colorado Public Radio had an interesting interview with Paul Polak, founder of IDE, which recently got a $13.4 million grant from the Bill & Melinda Gates Foundation.

IDE creates technology to aid farmers in the developing world to lift themselves out of extreme poverty. They don't give away the technology -- they sell it -- but they expect a 300% return on investment. For example, if a farmer purchases a $25 pump, they can expect to earn an incremental $75.

Polak believes that in order for poverty to be wiped out, there need to be revolutions in the following areas:

  • Water
  • Agriculture
  • Markets
  • Design

Click the link below to listen to the interview:

Colorado Nonprofit Wins $13.4 Million Grant

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