MasterCard and Rockefeller Back 'Data for Good'

MasterCard's philanthropic arm The MasterCard Centre for Inclusive Growth has teamed up with The Rockefeller Foundation charity to help non-profit, civic and government organizations uncover new insights and trends from their data.

Launched with $50m from the Rockefeller Foundation and the MasterCard Impact Fund, the new 'Data Science for Social Impact' model aims to accelerate the use of data science to help organizations build more impactful programs for the communities they serve. It has been developed to provide organizations with the tools, expertise and other capabilities to solve world issues, for example, improved access to public transport for underserved communities or the acceleration of disease diagnoses.

Building on The Rockefeller Foundation's work on understanding social impact and the MasterCard Center for Inclusive Growth's expertise in data philanthropy and governance, the collaboration will identify priorities and investment opportunities to use 'data for good' - whether that be through research, skills development or the building of new technology platforms.

Michael Froman, President, Strategic Growth at MasterCard, says the firm believes the digital economy 'needs to work for everyone'. He comments: 'If we can close the gap by providing the non-profit, civic and government sectors with the tools, talent and investments they need to apply data science effectively, then we have a shot at solving some of the greatest challenges of our time. We see a world where the promise of technological innovation can deliver on our goal of inclusive growth'.

Web sites: www.mastercardcenter.org and www.rockefellerfoundation.org .