GoodCompany also announces $500,000 in Committed Venture Capital
Submitted by: GoodCompany Group
Posted: Apr 18, 2013 – 09:06 AM EST
PHILADELPHIA, Apr. 18 /CSRwire/ - GoodCompany Group is pleased to announce that the final deadline for application to the 2013 GoodCompany Ventures social enterprise accelerator will be May 10th.
Now entering its fifth year, the GoodCompany Ventures accelerator is the oldest, most rigorous and most successful program for developing innovative solutions to address unmet social needs into for-profit enterprises that can scale for global impact.
The 10 entrepreneurs selected for the 2013 class will benefit from two powerful expansions of our program:
Committed Capital. GCV has organized a commitment for $500,000 to be invested among the 10 entrepreneurs selected for the 2013 class by members of the regional chapter of Investors’ Circle. This partnership will provide a fast-track to launch capital for our entrepreneurs and access to the national network of IC members, the largest and most active impact angel network, responsible for over $170mm in impact investments.
Committed Partners. The entrepreneurs selected for GCV’s 2013 class will be the first beneficiaries of the Philadelphia Social Enterprise Partnership, which adds the resources of the Wharton school and the City of Philadelphia to GCV’s proven process. Wharton staff and students will drive the development of business strategies for global scale. Government leaders from the City of Philadelphia will support product development with unique domain expertise regarding the problems and policies and new piloting initiatives to support civic innovation. This partnership was one of five winners chosen out of a pool of over 300 applicant cities for the Bloomberg Philanthropies’ Mayors Challenge, which awarded the Philadelphia Social Enterprise Partnership a $1 million prize to implement its innovative proposals to support social entrepreneurs.
These new partnerships with the regions’ investment, business and government leadership reflect a common goal to make Philadelphia the city of choice for social entrepreneurs to launch their innovations.
"I am pleased to see the City's business community step forward to support entrepreneurs who bring meaningful change to our citizens and the development of Philadelphia as the national hub for social enterprise,” said Mayor Nutter.
GoodCompany Ventures 2013 Call for Applications
GCV is the most selective social enterprise accelerator, graduating an average of ten social entrepreneurs each year. In its search for the most promising social innovations, GCV has recruited entrepreneurs from five continents addressing a broad range of social issues. GCV is one of the only incubators in the world that does not charge fees or take equity for its services. GCV is also distinguished by its success; its first 30 graduates have raised over $30mm in venture capital to fuel their social innovation.
To be considered for the GCV 2013 accelerator, entrepreneurs must apply and satisfy the criteria for admission to the accelerator, relating to innovation, impact and implementation. Entrepreneurs will be admitted on a rolling basis through our final deadline of May 10th.
Applications may be submitted via the GoodCompany website at goodcompanygroup.org/node/115.