The Audacious Project presents itself as "a collaborative initiative to fund ideas with the potential to make change." The goal of the project is to encourage the biggest change agents to dream higher, turning their ideas into workable plans in order to be convincingly presented to potential investors.
The project was launched in 2018 and is the result of a partnership between TED and the Bridgespan group, which aim to give social entrepreneurs the means to overcome one of the greatest difficulties they face. Without access to risk capital or to the stock market, these agents are forced to present their ideas to investors one by one, making the process inefficient.
Each year the candidates undergo a rigorous selection process, in which both TED and Bridgespan members study and veto the ideas presented, eliminating the projects until they reach a small group of finalists. The projects selected are those that the experts consider the most daring, but whose feasibility is not called into question.
Then, the winning candidates are presented privately to investor groups and unveiled at the annual TED conference. The goal is to attract a community of supporters, both in the field of philanthropy and the public.
Projects typically last three to five years. Donations from the public are awarded online, while investors offer an annual grant as long as project objectives are being met. You can find out more about the Audacious Project on the initiative's official website.