Personal Growth

This charity is sending VC cash to Ukraine households in want

A New York-based tech business charity known as 1K has gathered thousands and thousands in donations to ship on to needy households in Ukraine.

The charity says it’s raised greater than $5 million from people, startups, and enterprise capitalists, all of which has supplied monetary help to some 5,000 Ukrainian households.

1K was based by entrepreneur and VC Alex Iskold, who was born within the Ukraine, and Chrysi Philalithes, who runs digital outreach on the AIDS group (RED). 1K works via a variety of refugee organizations in Ukraine and Europe to seek out and vet the households which are most in want. Families may apply for assist immediately with 1K. The charity is particularly eager to assist single moms of a number of youngsters. Iskold says that in lots of circumstances moms find yourself fleeing the nation with their youngsters whereas the boys are compelled to remain in Ukraine.

Philathes says {that a} donation of $1,000 (“1K”) may also help a household of three to 4 individuals purchase a month’s price of requirements, corresponding to meals, clothes, and shelter.

Last month, 1K began a brand new marketing campaign known as Startups For Ukraine, which it says is “a call to show the collective power of the entrepreneurial community.” It known as on a thousand startups and VCs, asking every to donate $10,000 to fund 10 households. So far the marketing campaign has generated greater than $1 million of the $5 million 1K has raised in whole, the charity says.

Numerous startups from early- to late-stage have donated to the trigger. And 1K’s donors additionally embrace some large names in tech funding circles. These embrace traders corresponding to Fred Wilson and Om Malik, and VCs corresponding to NEA, First Mark, Khosla Ventures, Bessemer, and others. The VC GSV and the University of Arizona additionally labored collectively to increase $130,000 for the 1K trigger.

Slack CEO Stewart Butterfield and Away cofounder Jennifer Rubio mentioned Thursday that they are going to match all private donations as much as $2.5 million for the subsequent 48 hours till 11:30am ET on Saturday, May 14.

The conflict rages on in Ukraine, and extra humanitarian help is required. For its half, nevertheless, 1K’s motion to assist the tech business give appears to be choosing up steam.

“I know this community very well,” Iskold says. “Twitter has been overflowing with support. Everybody knows about this.”

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