Older Boomers Can Win $100,000 Purpose Prize

Entrepreneur magazine writes about Civic Venture’s award for people 60 and over who devote their encore career to helping other people.

“Purpose Prizes have been called “genius grants” for people over 60 and are awarded every year to social entrepreneurs who devote their encore careers to making the world a better place.
The application deadline for the 2012 prizes is March 31. Five winners will each receive $100,000 to continue their enterprises.
In the six years since Civic Ventures created the awards, the San Francisco nonprofit has given away more than $3 million to more than 30 winners. Among those honored: a psychiatrist who started a national counseling network for traumatized veterans, the former head of a business incubator who helps Detroit startups and a filmmaker who created a foundation to aid children in China’s orphanages.
I recently caught up with Purpose Prize director Alexandra Céspedes Kent to find out more about the application process and what judges look for in winners.
SA: What inspired Civic Ventures to create the Purpose Prize?
AK: We created the Purpose Prize the first year that boomers started turning 60. We knew millions of older adults were working longer, out of desire and increasingly out of need. We wanted to highlight people solving major social problems in their encore careers, a new stage of work that combines personal meaning, social impact and the opportunity for continued income. We do that by investing $100,000 in each winner and promoting their accomplishments.”

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