Bangkok--14 Mar--124 Communications
Offers Socially-Inspired 18-35 year olds the Chance to Implement their Life-Changing Idea to Empower Women and Children in Asia/Pacific, Middle East and Africa
As the world commemorates 100 years of International Women’s Day, Singapore National Committee for UN Women (UN Women Singapore) and MasterCard are joining hands to launch Project Inspire: 5 Minutes to Change the World. This year-long digital and social media driven initiative aims to connect and inspire young people across the world to share their life-changing ideas and fulfill their visions of a better world for disadvantaged women and children.
Project Inspire presents 18-35 year olds with a 5-minute platform to pitch their inspired idea to the world and win a US$25,000 grant. The grant will be used to bring to life the winning idea and empower disadvantaged women or children in Asia/Pacific, Middle East and Africa through education, skills training, financial inclusion or social entrepreneurship. In addition, special recognition will be given to the best Financial Literacy/Livelihood proposal, which will be awarded a US$10,000 start-up grant.
People with a passion to make a difference will be encouraged to visit
www.5minutestochangetheworld.org to submit a 5-minute video or written pitch articulating their idea and how they will use the grant to implement it. A shortlist of 10 finalists will have to convince a global voting audience of the merits of their proposal, and present live in Singapore to an expert judging panel at the end of August 2011, when the winner will be announced.
Finalists will also get the opportunity to attend a workshop on sustainable social entrepreneurship and hone their presentation skills through a training session with professional consultants.
Project Inspire will rely on the power of social media to connect people around the world to participate, interact, share ideas and inspire change. This online community will stay connected with winners as they go out into the field in the fourth quarter of 2011 to implement their vision. Through first-hand views on planning, preparation and implementation of creative, effective and focused programs based on limited resources, others can gain insight and inspiration to take action to change the world for underprivileged communities in their own way.
Project Inspire: 5 Minutes to Change the World is jointly organized by UN Women Singapore and MasterCard and supported by INSEAD, Bain & Company and Channel NewsAsia.
The initiative supports the heightened need to devote resources to the empowerment of women. Despite great strides in their socio-economic standing over the past 100 years, statistics show that women account for 70% of the world’s poor. They work two-thirds of the world’s working hoursbut earn only 10% of the income and own 1% of the world’s property. Giving these disadvantaged women more opportunities to stand on their own feet has enormous socio-economic ramifications, as empowering women fuels economies, spurring productivity and growth.
A growing body of research demonstrates that there is no tool for development more effective than the empowerment of women. The Global Gender Gap Report 2009, for one, issued by the World Economic Forum found no country where men and women were equal, but noted that where the gender disparity gap was narrower, countries were more economically competitive and prosperous. The report noted that the combined impact of these gaps entails colossal losses to the global society and economy and concluded that significant economic recovery and growth will not occur without the engagement, empowerment, and contribution of women and girls.
Trina Liang-Lin, President, UN Women Singapore, said, “The United Nations Millennium Development Goal 3 (MDG3): the empowering of women and girls is recognized to bring about potential multiplier effects for the achievement of the other MDGs such as MDG1: to eradicate extreme poverty and hunger and MDG4: to reduce infant mortality amongst others.”
Project Inspire: 5 Minutes to Change the World is part of MasterCard’s celebration of 25 years in Asia. At the Heart of Commerce, MasterCard has long devoted resources to understanding women and aiding their empowerment across Asia/Pacific, Middle East and Africa. With a specific focus on social entrepreneurship, financial inclusion and financial literacy, MasterCard has been working alongside other likeminded organizations to support a broad range of women’s causes through scholarships, financial assistance, educational programs and various sustainability programs. These have helped provide many women with the skills required to stand on their own feet and support themselves and their families.
“At MasterCard, we recognize that empowering a woman to realize her potential is key not only for her personal development, but to the development of her family, her community and the nation. We are proud to work with UN Women Singapore on Project Inspire: 5 Minutes to Change the World to mark our 25th anniversary in the region, as it truly embodies the focus and aims of our ongoing community outreach efforts. We believe that by tapping the energy and passion of today’s young people, we can create meaningful, sustainable impact and inspire others to do the same,” said Georgette Tan, vice president, Communications, Asia/Pacific, Middle East & Africa, MasterCard Worldwide.
UN Women Singapore and MasterCard have collaborated on other initiatives in the past including the Buy to Save Sale that raises funds to support initiatives reaching out to women affected by violence, as well as the UN Women Singapore Say No to the Oppression of Women (SNOW) gala.
About UN Women Singapore
Formerly known as UNIFEM Singapore, the Singapore National Committee for UN Women is a non-profit organisation working towards women’s empowerment and gender equality. Established in 1999, the organisation functions as a National Committee of the UN Women, headquartered in New York. UN Women Singapore supports education and awareness programs that provide women and girls with access to education, healthcare, economic independence and a life free from violence and abuse in Singapore and the region. For more information, please visit: www.unwomen-nc.org.sg.
MasterCard and Corporate Social Responsibility
MasterCard’s corporate social responsibility platform (CSR) in Asia/Pacific, Middle East and Africa (APMEA) is focused primarily on bettering the quality of life for women and children by providing them educational opportunities. MasterCard does this by supporting a broad range of women’s and children’s causes through scholarships, financial assistance, educational programs and various sustainability programs, helping provide them with the skills required to stand on their own feet and support themselves and their families. Apart from the educational aspects of MasterCard’s CSR programs in APMEA, consumer education is an important area of consideration for MasterCard given the significance of financial know-how in improving lives and the socioeconomic standing of families throughout the region.
A key component of MasterCard’s social responsibility and citizenship efforts across the region is the MasterCard Purchase with Purpose? platform. Based on the concept of transactional philanthropy, it is at the heart of a drive by MasterCard to encourage responsible spending and make a difference in someone else's life. Across APMEA, MasterCard Purchase with Purpose initiatives involve cardholders in the company’s efforts to give back to the community whenever they use their MasterCard cards. More information on MasterCard Purchase with Purpose in the region is available at www.mastercard.com/sea/purchasewithpurpose.
About MasterCard Worldwide
As a leading global payments company, MasterCard Worldwide prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2010, $2.7 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network — the fastest payment processing network in the world — MasterCard processes over 23 billion transactions each year and has the capacity to handle 160 million transactions per hour, with an average network response time of 130 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard?, Maestro?, and Cirrus?; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass? and MasterCard inControl?. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at www.mastercard.com. Follow us on Twitter: @mastercardnews.
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