When Christen Chen explains the concept of The Awesome Foundation to people in Singapore, most react with disbelief. “They look at me like I’m crazy,” says the 35-year-old Taiwanese-American founder. “I guess it’s difficult to understand why people would just give money to complete strangers.”
The Awesome Foundation was started in Boston in 2008 to distribute mini-grants of US$1,000 to people with ideas who need assistance to get them off the ground. A board of trustees comprising nine or more people shares the cost of funding these ideas personally and equally, without any corporate backing or sponsorship.
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Source: The Business Times, 01 July 2016