The Omidyar Network has announced a three-year, $18 million commitment to work being conducted through its New Economic Paradigm portfolio.

Launched in 2020 under the network’s Reimagining Capitalism banner, the New Economic Paradigm portfolio supports organizations working to shape inclusive democratic capitalism. The commitment is based on an evaluation of the portfolio conducted in the spring and summer of 2021 by the Center for Evaluation and Innovation (CEI), which included 45 interviews with grantees and others to determine what Omidyar Network should prioritize. The evaluation led to an updated organizational strategy, which includes a sharpened narrative strategy; continued work connecting people and organizations pursuing paradigm shift, with an effort to be more intentional about integrating grassroots perspectives and strengthening connections between narrative, organizing, and policy; and an intent to make a new economic worldview resonate with new audiences, including rural, business, and faith-based communities.

“No single organization can bring about paradigm change alone,” Reimagining Capitalism director Tracy Williams and Audrey Stienon, Reimagining Capitalism associate, wrote in a blog post. “The very nature of shifting mindsets across broad swaths of society requires engaging many voices from across a diverse ecosystem acting with conviction and collaboration.”

(Photo credit: Getty Images/mcdustelroy)