Social Innovation at the Time 100 Gala

Last night, at the Time 100 Gala (in honor of 2009's 100 most influencial people in the world) Michelle Obama delivered a speech announcing the new "Social Innovation Fund" proposed by the administration.

An exerpt from the speech:

Mrs. Obama spoke of the importance of public service in her own life, and then announced that the president's budget proposal for next year will include $50 million to help promote national service and advise nonprofit groups... The money would be startup capital for the new Social Innovation Fund, she said, designed to help nonprofits think about service in new ways and approved by Congress as part of a national service law...

"The idea is simple: Find the most effective programs out there and then provide the capital needed to replicate their success in communities around the country," the first lady said.

"By focusing on high-impact, results-oriented nonprofits, we will ensure that government dollars are spent in a way that is effective, accountable and worthy of the public trust."

FULL ARTICLE & TRANSCRIPT HERE (scroll down)

The Social Innovation Fund seems to be a domestic program, but I hope the idea catches on world-wide!

Forum ladies: How can something like this be applied to the Saudi context? Do you think it could work? Moreover- do you think it could be a woman-led initiative?

photo from AP, Getty and Patrick McMullan