Chicago, IL (PRWEB) March 02, 2012
The Center for Applied Innovation, a Chicago based 501(C)3 non-profit organization, announced today that $ 10,500 in funding was allocated during the first-ever Invent for Humanity Technology Transfer Exchange Fair event in Geneva, Switzerland on January 23-25, 2012.
Invent for Humanity is a community, a marketplace and an event focused on harnessing technology for social good. Hosted by the Licensing Executives Society International (LESI) Global Technology Impact Forum, the first Invent for Humanity event supported enterprise-creation campaigns all across the globe.
This effort resulted in the presentation of fourteen campaigns during the event, which were developed in partnership with Kopernik, Solar Sister, Q Drum, California State University, Los Angeles, and Global Research and Innovation Technology (GRIT).
The marketplace aspect of the event enabled the campaigns to receive funding from the Invent for Humanity fund onsite through the allocation of microfinance credits (MFCs) by event attendees.
Each of the 150+ attendees was given MFCs that they could distribute during the two-day event. Attendees interacted with campaign representatives to learn more about the respective details of each campaign, in order to better inform themselves as to where their MFCs would have the most impact.
Once all of the MFCs in circulation were allocated, the Center for Applied Innovation was able to calculate the total amount of real money each MFC was worth, allowing them to assign a monetary value to each credit slip and determine the dollar amount that each campaign had received.
MFCs allow financial contribution and subject matter expert participation in the market process, said James E. Malackowski, LESI President. As the market matures, it is expected that MFC allocation will extend 360 degrees to include needs organizations, ensuring that their unique insight regarding what is mostly likely to succeed will be reflected in overall funding allocations.
The Center for Applied Innovation is pleased to announce the following funding results of the first-ever Invent for Humanity Technology Transfer Exchange Fair:
1.