Philanthropy in America is changing from billionaires building wings in universities, to people making solid investments in products and services that will target issues for the underclass like poverty and health care.
Jacqueline Novogratz's Impact Investment Fund, Acumen has moved from such projects in the third world, to focusing on poverty related investment issues in the U.S. Acumen focuses on financial inclusion, workforce development, and health.
Products are being created like apps that let people keep track of their health data and apps that help people without banks save money.
One of the biggest challenges that face investors who want to work in these previously underserved markets, is getting reliable data. Novogratz has been drawing up some preliminary market data in Africa and will soon do the same in the US. The future of philanthropy will be shifting to making services that are leaner and more clever than ever.
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