The Victory Project was launched as a bold new project that introduces a new economic model to the world of philanthropy. The charity has publicly announced $1 billion cash awards for solutions to huge societal problems such as breast cancer, diabetes, a 150 mpg gasoline powered car and others...
The Victory Project, a new 501c3 charity has publicly announced $1 billion cash awards for solutions to huge societal problems such as breast cancer, diabetes, a 150 mpg gasoline powered car and a 95% reduction in automotive greenhouse emissions.
Now, eager to capitalize on the success and piggyback on the momentum of this new approach by the Dewey Foundation, presumptive Republican Presidential nominee John McCain has proposed a $300 million award for a breakthrough in automotive battery technology.
In the 231 years from America’s founding until late last year, according to research by The Victory Project, not one U.S. politician proposed solving societal problems by using a huge cash award that ordinary citizens would be eligible to win.
Since The Victory Project was made public last year, it has now happened twice. “Coincidence? Not a chance,” said Mike Dewey, President of the Dewey Foundation.
The Victory Project was launched as a bold, audacious new project that introduces a new economic model to the world of philanthropy. The Victory Project is clearly having the desired effect given McCain’s, and prior to him, Mike Huckabee’s adoption of this new model. Huckabee suggested a Victory Project – like a billion dollar award for a fuel efficient car in a presidential debate in January.
“In business and in life, incentives play a powerful role in achieving success. Why should philanthropy be any different? To now have McCain pick up on this as a great way to attack a big problem is very flattering,” said Dewey. “We believe, and they agree, that this is the new model for addressing big problems.”
To demonstrate how much the McCain campaign relied on The Victory Project concept, this is language from the Dewey Foundation website and mission statement: “In a historic effort to inspire innovation among inventors, researchers…and people around the world; and to reward their success…”
McCain’s announcement read as follows: “…we will encourage heroic efforts in engineering, and we will reward the greatest success.”
But unlike Senator McCain’s proposal, the Victory Project is free from government interference and meddling and it uses no taxpayer funds for the awards, according to Dewey.
“I believe strongly this is an area that the government should stay out of for many reasons,” said Dewey. “Given the complexity of reviewing the submissions we have already received at The Victory Project, I cannot even imagine the government being able to implement and oversee a fair process that insures an actual solution and respects the inventor community.”
“In fact,” Dewey continued, “when I conceived of The Victory Project more than three and one-half years ago, I initially thought about it being a government program. But I became convinced that there is no way the government could manage the process fairly and effectively. I couldn’t shake the visual image of the last scene in the original Raiders of the Lost Ark movie where this dazzling new discovery was locked away in a government warehouse, never to be seen again. So we are doing it ourselves. And we are giving the solutions away for free.”
Legendary advertising executive and GSD&M co-founder Steve Gurasich said of The Victory Project, “I am humbled by the audacity of this idea and intrigued with its possibilities.”
The Victory Project is radically different than the traditional philanthropy model. Most charitable organizations fund the process of finding a cure and pay for research and programs, not the actual cure. The Victory Project will pay only when a successful cure or solution is achieved, thereby adding an exciting new layer of incentive atop the existing system of philanthropy.
Existing organizations, non profits, hospitals, researchers and universities are all eligible to receive the $1 billion Victory Awards. There is no residency restriction on eligibility; residents of any country are able to claim the awards.
“History and human nature assure us that this approach will work,” said Dewey. “I am absolutely certain that these prizes of $1 billion will attract even more attention and interest of researchers, inventors and creators around the world, and get them engaged and working on a solution to these specific problems. I am equally sure that they can and will actually solve these problems and win these prizes. We are already receiving serious submissions, and they are in the review process right now.”
According to Dewey, “This has really struck a chord with people. There is a large and growing sense that we need to do something different, and this certainly fits the bill. We are getting a lot of ‘wow’ moments and an outpouring of emotional support.”
Perth, Australia business leaders Toby Davidson and Paul Papa-Adams heard about The Victory Project through a friend and contacted Dewey and made a substantial pledge. “It is a great idea, when I heard about it I wanted to be a part of supporting it,” said Davidson. “It is a very American thing to do...have a competition. It makes all the sense in the world. I wish we had thought of it.”
The specifics of the Awards, the history of the Foundation, a video presentation by founder Mike Dewey and more information can be found on the website at www.deweyfoundation.org.
For more information on The Victory Project, please email info@deweyfoundation.org or visit www.deweyfoundation.org.