27:41Grace Garey Speaks at Female Founders Conference 2015
From Y Combinator · Published Jul 23, 2015 · Watch on YouTube
TL;DR
Grace Garey recounts her path from working at a large humanitarian nonprofit after the Haiti earthquake (where up to 94% of funds never reached beneficiaries due to donor restrictions) to co-founding Watsi, a crowdfunding platform that connects donors directly to individual patients needing life-changing healthcare.
Key insights
- Large nonprofits become beholden to donor interests, often leaving the people they intend to help sidelined; after the Haiti earthquake, up to 94% of raised money never reached those it was meant to s
- Small, locally focused nonprofits can be more effective because they are physically close to beneficiaries and free from donor-imposed restrictions, enabling them to respond directly to community need
- Technology (e.g., platforms like Kickstarter, DonorsChoose, Kiva) already connected people for creative projects, education, and microloans, but no similar mechanism existed for healthcare – a gap Wat
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