According to a White House Press Release, President Obama, in his FY2010 budget, will ask Congress for $50 million for the Social Innovation Fund to identify the most promising, results-oriented non-profit programs and expand their reach throughout the country.

“The idea is simple: to find the most effective programs out there and then provide the capital needed to replicate their success in communities around the country that are facing similar challenges,” First Lady Michelle Obama said Tuesday at the Time 100 Most Influential People Awards in New York City.

Social innovation has become an extremely popular subject in the past few years. For students, Kairos Summit and Dell Social Innovation are examples of initiatives that showcase and support the most promising and innovative student enterprises. For investors, Acumen Fund and Venture Philanthropy Partners are organizations that are leading and transforming the social impact landscape to deliver value to the Bottom of the Pyramid.

The nonprofit sphere is clustered, and simply throwing money at a problem would not solve it. Only approaches that are strategic and disciplined will be able to create the most impact, and the White House has taken the first step to identify these organizations. We sure hope this move will encourage young social entrepreneurs and nonprofits to continue their great work, and develop new, effective ways to tackle old problems. Sure, it takes time – but it won’t be long before organizations such as PoP leave their footprints in areas in need of change, whether it’s the mountains of Laos, or right here in the US.