776 Foundation
/OVERVIEW: Alexis Ohanian’s 776 Foundation has awarded fellowships for young people working toward climate change mitigation.
IP TAKE: The 776 Foundation ran an open application program for its first cohort of climate change fellowships, which provided unrestricted cash grants and technical support from the foundation’s parent company, 776 Management. The foundation has yet to announce future fellowships or grantmaking opportunities, but appears to be committed to supporting the bold ideas of young people from around the world who are willing to take time off from school develop projects with broad impact for climate change.
The 776 Foundation is not directly accessible, but its website provides links to its LinkedIn, Twitter and Instagram accounts. Founder Alexis Ohanian’s personal website features a contact page, and the foundation’s parent company, 776 Management, offers short bios of its team members. Social media networking may be the best way to gain the foundation’s attention until its next funding opportunity is announced. And while the foundation is not directly accessible, it is transparent; descriptions of its application process and funded fellowships are available on its website and Instagram feed.
PROFILE: The 776 Foundation, based in Jupiter, Florida, is the philanthropic vehicle of 776 Management, the venture capital firm founded by Alexis Ohanian. Ohanian is best known as the founder of Reddit, but he has also accumulated significant wealth through an investment firm, Initialized Capital, which specializes in providing seed and early-stage funding for internet an cryptocurrency startups. His second investment vehicle, 776 Management, is geared toward social enterprise and funds “founders that are changing the world” in the areas of media, technology, health, youth development and financial services, to name a few. The affiliated foundation, which is not currently registered as a tax-exempt organization, has so far funded a fellowship program for young people working to solve climate change-related problems.
Grants for Climate Change, Clean Energy and Scientific Research
To date, the 776 Foundation’s sole grantmaking program has been its 776 Fellowship. Focused specifically on climate change as a “technological, social, and political issue,” the fellowship’s first round of funding was awarded to 20 individuals under the age of 23. The two-year program included a cash grant of $100,000 “support from the Seven Seven Six network of founders, investors, and partners,” and the use of Cerebro, which is 776’s operating network. The fellowship required full-time participation of its participants, precluding their pursuit of higher education for two years. Grants stemming from the fellowship were unrestricted; fellows were entitled to use the funding for “whatever you need to bring your idea to life.” A significant number of the first cohort’s projects involve data platforms and management systems for climate change issues including decarbonization, energy delivery, climate metrics and wildfire management. The fellowship has also supported projects in green energy technology, recycling, climate-driven film production and education.
Important Grant Details:
The 776 Foundation’s recent fellowship program awarded 20 $100,000 grants to its fellows, who also received organizational and technological support from the 776 Management team. Fellowship application was open to individuals aged 18 to 23, with no geographical restrictions. The program required fellows to work full-time on their projects, precluding participation in higher education for the two-year program. The $100,000 was paid in quarterly installments. For profiles of 776 fellows, see the foundation’s Instagram feed.
776 ran an open application program for its first round of funding, which closed in March of 2022. The foundation has yet to announce a second round of fellowships or grants; potential applicants should check the 776 Foundation’s website periodically for updates and follow the organization’s social media accounts, which are linked to the website.
PEOPLE:
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