Track: Financial Inclusion

Housing has gotten unaffordable across much of the US. With home prices having gone from 2X to 4X the median family income over the past 40 years, 53-77% of the population can’t afford to buy today in metro areas across the country. This means that they are forced to rent for years on end instead of building their assets, perpetuating the cycle of being locked out of the market. HomeSlice is putting home ownership within reach for people who can’t afford to own today by making it easy to buy homes in groups. By removing the current barriers to fractional ownership – from the creation of co-owner agreements to the elimination of liability for co-owner default – it is making shared home ownership a viable and attractive option for millions of Americans. Its mission is to democratize home ownership.

MÄk is a social enterprise devoted to empowering urban low-income high school juniors and seniors to become 3D designers. The mission of MÄk is to provide these young people with exposure to various STEAM (science, technology, engineering, art, and math) fields while also providing them with training in marketable skills and an income source so they may pursue higher education and STEAM careers in the future. Initially, the MÄk program will run on the UC Berkeley campus in order to utilize its free facilities and 3D design software. First, trained Berkeley student volunteers from MÄk’s partner campus organizations will teach high schoolers from Oakland and Richmond in 3D design through a training program. Then, MÄk will hire these students as paid interns to work on 3D design projects for Bay Area technology startups and design firms. MÄk plans to simultaneously partner with other organizations to host financial literacy workshops that help students manage income wisely.

Women living in the squatter settlements of Ulaanbaatar are among the most financially and educationally disadvantaged in Mongolia. The squatter areas—commonly known as “ger districts”—are mainly comprised of recently-migrated nomadic herders. Ger districts make up over 60% of the capital city’s population and have tens of thousands of new arrivals each year. The newly-settled nomads face difficulties in the urban job market due to stark cultural differences between rural and urban lifestyles and a mismatch of employable skills. The challenges of finding employment can result in alcoholism, domestic violence, and cyclical poverty. Women in the squatter settlements need confidence, practical knowledge, and access to capital in order to break from patriarchal gender roles that often prevent them from reaching their full potential as business and community leaders. Through structured small-group support, this project provides impoverished female migrants with information, skills, and low-interest microloans in order to develop their small businesses and foster more economically-resilient communities.

The Employment and Life Skills Academic Competition is a program that teaches teenagers resume writing, job interview and oral presentation skills, and financial literacy. The objective is to prepare high school students for life after graduation by not only making them competitive for the workforce but also teaching them information about managing their finances. The student participants prepare for the Academic Competition through an enriching afterschool program. A Resource Guide, which serves as an outline of the various skills and financial concepts to be mastered, is then distributed to all student participants. The Academic Competition includes four categories in which students will be evaluated as individuals or part of their high school team. The categories include an oral presentation, a mock job interview, a written essay focusing on financial literacy, and an objective section where the high school teams compete to answer financial-based questions in a game-show format.