Launching the Prospect.io Foundation
I’ve been launching internet projects and companies (startups) for more than 10 years now.
I love my job since the very beginning, but I also sometimes feel a little guilty. Guilty of evolving in an industry in which money flows. Between insane funding rounds, extravagant exits and exorbitant salaries, I often feel like a Lucky Bastard. And, objectively, that’s the case; I’m lucky.
Earning to give
The example of Bill Gates is clear enough to understand the concept:
Would Bill Gates have done more good if he’d worked at a small non-profit? We don’t normally think of software engineering as a path to doing good, but Gates has saved the lives of millions of children by funding vaccines. This was only possible because Gates was focus on the creation of Microsoft, a capitalist company with the sole purpose of making profit.
Bill Gates saved the lives of more children than the population of Scotland, which we think more than makes up for the blue screen of death.
This means we can get up every morning, only thinking about developing a business, and still have a significant societal impact, all at the same time. Much more so than if we had chosen a specifically “philanthropic” career. What a relief having realised that! That’s something I had always somehow felt without being able to put it into words.
That was the starting point…
Creating the Prospect.io Foundation
I’ve been developing Prospect.io for 3 years. Today we are 12 people, making +/- 100.000€ in monthly recurring revenue (1.2 million / year) and we are profitable and growing.
The truth is, I never had a better opportunity to start donating, to give in a systematic way and with impact. Here is why, with the Prospect.io team, we decided to create the Prospect.io Foundation.
1% / 12 times per year
We decided to donate:
- 1% of our monthly revenue
- every month (12 times per year)
It is important to note that we are committed to give a percentage of our revenue, not of our profits. This is important because the more our company will grow the more we’ll donate. Whether we generate profits or not.
We chose the name 1x12 (One By Twelve) for this Foundation. In the long run, we wish to inspire other companies to join us on the same model: 1% of their income, 12 times a year. They could therefore join the 1x12 movement.
We’re focused on helping anybody (non-profit organizations or individuals) achieve greater impact in areas including:
- Childhood & Education
Children are the seeds of tomorrow’s society. We believe that it is essential to invest in the education of our children so that they can develop a better society.
- Science & Technology
We are optimists. We believe that science and technology can solve the vast majority of humanity’s problems. Therefore, we need to invest in bold projects in R&D and in new technologies.
- Crisis Response
We also want to help people that need help right now.
This is why we also decided to support projects that benefit people in extreme difficulty because of a natural disaster, a public health crisis or even war.
Call for projects
We are looking for projects to finance right now. We already selected 2 projects for January and February 2019. There are still 10 opportunities for project to get funded next year.
As a reminder, to date, each project will receive +/- €1.000 in donation (our current monthly revenue being €102,000).
If you are working on a project or if you know a project we should support, let us know on our website: https://1by12.org
We don’t only support widely recognized organizations. Anyone with a serious project is welcome.