Students around Palm Beach County are participating in an innovative new program called the Palm Beach Philanthropy Tank. They have submitted their best ideas to improve the county and on March 17 they will present their ideas to judges and an audience at the Harriet Himmel Theater in CityPlace.
The Palm Beach Philanthropy Tank is a program similar to the T.V. show Shark Tank. Student applicants present their best idea for community improvement, and four judges choose winners who will receive funding. Unlike Shark Tank, the applicants are not looking to become successful business owners, but rather to find the best use for philanthropic funds in Palm Beach County. The judges are not “sharks,” but local philanthropists looking to invest in talented youth.
The four philanthropic judges, William Meyer, Julie Fisher Cummings,Danielle H. Moore, and Eric Becker have each contributed $25,000 towards the pool of funding for the program. The applicants will be judged on five criteria: community impact, program feasibility, solution creativity, sustainability and team strength.
The philanthropy tank is in its first year, and the stakes are high: up to $15,000 of funding for each winning idea. Between 8 and 12 winners will be selected from the pool of applicants. Winners will also receive a one-year mentorship from one of the philanthropists donating to the project.