Airwallex Unveils Program to Support the Next Generation of Innovators
Airwallex, the Australian-born unicorn, has furthered its commitment to fostering innovation and entrepreneurship with the launch of “Airwallex Impact”, a comprehensive global social impact initiative. This program is driven by a 1% equity commitment dedicated to philanthropic endeavors, alongside pledges of 1% of employee time, profits, and products to bolster the innovation community.
By taking on the 1% Pledge, Airwallex associates itself with a global community of companies engaged in corporate philanthropy. Notable members include tech giants like Atlassian, Canva, Airbnb, Okta, Reddit, and Salesforce, all united in their support for the transformative power of business giving.
Jack Zhang, CEO and Co-founder of Airwallex, emphasized the importance of this initiative, stating, “Purpose is at the core of Airwallex’s mission – we exist to help businesses thrive, and this work naturally extends our dedication to innovation and economic development in the countries where we operate.” The company aims to foster long-term societal growth and development through this robust commitment.
Sustained Corporate Philanthropy Commitment
In collaboration with Pledge 1%, Airwallex has earmarked 1% of its stock, valued at US$56 million, for ongoing corporate philanthropy. This enduring commitment promises to grow alongside the company’s success, expanding its resources dedicated to social impact. A notable precedent includes a AU$3 million donation to the University of Melbourne, supporting 43 scholarships thus far.
Further augmenting this initiative, Airwallex has provided an additional AU$150,000 donation for the financial support of 65 students, addressing non-tuition-related costs. The company has fostered a strong network with these students, offering internships and 400 hours of formal mentorship, enhancing their professional development.
The Airwallex Impact Program is designed to extend these efforts through strategic partnerships that support emerging innovators and entrepreneurs via scholarships, financial training, and startup incubators.
Amy Lesnick, CEO of Pledge 1%, remarked, “Airwallex’s equity commitment is critical as it will tie company success to long-term philanthropic engagement and impact. As Airwallex grows, so will its funding and its ability to affect change.”
Resources and Support for Startups
The Airwallex Impact Program will provide a suite of resources to the innovation community, including mentor programs, the Airwallex for Startups initiative, and product discounts for select nonprofit organizations involved in public benefit programs. This holistic support structure is financed directly by the company.
Launched in September 2023, the Airwallex for Startups program is available in Australia, Singapore, and Hong Kong, with an upcoming expansion to New Zealand. Over 2,000 startups are already benefitting from networking events, partner perks, and tailored resources designed to support entrepreneurial success. More than 50 events have been held to inspire and cultivate startup achievements.
Encouraging Team Airwallex to Give Back
Starting in 2025, Airwallex employees will dedicate three days annually to volunteering, equating to roughly 1% of their work time. These efforts will focus primarily on Airwallex Impact initiatives, while allowing flexibility for personal volunteering endeavors with any preferred not-for-profit organization.
This global volunteering initiative builds on Airwallex’s history of supporting startup communities in Australia. Initiatives have included pro-bono mentoring through the Techstars incubator program and grants for early-stage startups in AI and FinTech sectors. These efforts serve to dismantle barriers and provide essential knowledge and capital access to burgeoning entrepreneurs.
As a founding partner of the Sydney-based AI Build Club, Airwallex has shown support by facilitating Australia’s largest AI hackathon and sponsoring a predominantly female-founder team to embark on a capital-raising journey in San Francisco. The company aims to remove obstacles for underrepresented founders, sparking further innovation and economic growth.
CEO Jack Zhang shared his perspective on volunteerism, stating, “Airwallex’s people are among the brightest and boldest across a range of disciplines. Beyond building our own company, there’s great rewards and joy to be found in paying that forward to help the entire ecosystem to flourish.”
Discounted Products for Nonprofit Entities
Mid-2025 will see Airwallex rolling out a program to offer its products at discounted rates for select non-profit organizations, as part of its commitment to community and innovation.
The Airwallex Impact initiative signifies a considerable pledge towards nurturing future generations of entrepreneurs, providing critical resources and support to make a broader societal impact.
