GoodCompany: Incubator for social entrepreneurs
April 6, 2009
I am amazed every day by the amount of information I gather from Twitter. This one comes from @mangojess, whose tweet led me to discover GoodCompany Ventures, this great incubator for social entrepreneurs now open for applications:
GoodCompany Ventures catalyzes start-ups with innovative solutions to big, unmet social needs. GoodCompany entrepreneurs are offered a great place to work in Philadelphia, a community of like-minded entrepreneurs, and access to a network of capital sources and expert advisors. We champion models that offer investors financial return and social impact. To learn more
The amount of the investment is not clearly indicated on the website. They mention that “GoodCompany will facilitate a first investment round by assembling representatives from leading VC firms and angel investors” without specifying when. They are also looking for mentors, investors and interns.
Stay tuned for more incubators for social entrepreneurs: the Global Social Entrepreneurship Institute will be launching the selection process for its first class in October.
Entry Filed under: Funding, Resources, Social entrepreneurship, Startups. Tags: incubator, Social entrepreneurship.
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Christine Renaud
Catherine Therrien
1.
This Summer, fund your startup « E-180 / Where social entrepreneurship, education and social media meet | April 6, 2009 at 4:07 pm
[...] Update: We just came across GoodCompany Ventures. Check out our post about [...]
2.
Garrett Melby | April 8, 2009 at 8:48 am
Thanks for your support. We have received several applications with innovation ideas for education already and we want this sector to be well represented in our first year’s class.
To clarify the “investment” question, unlike most incubators we don’t demand equity from our participants. We think that taking 5-10% of an entrepreneurs company for a few months spending money sets up the wrong dynamic. Therefore, we set up GCV as a nonprofit and raised enough funding so that we can serve our particiapants without conflict of interest. Many of our sponsors expect to benefit from a “first look” at the investment opportunity, but that will come after we have helped the entrepreneurs maximize their prospects of success in their first funding round.
We want these entrepreneurs to make it big, because they have big ideas for a better world.
3.
Christine Renaud | April 8, 2009 at 8:52 am
Hello Garrett,
Thanks for your comment and the clarification about the equity. Many social entrepreneurs will be glad to read your response!
You’ll hear from us soon…
Christine Renaud