Joins White House, NASA, Wharton, the Impact Hub and MIT Climate Co-Lab in launching Climate Ventures 2.0
Submitted by: GoodCompany Group
Posted: Jul 29, 2014 – 09:00 AM EST
PHILADELPHIA, PA , Jul. 29 /CSRwire/ - GoodCompany Ventures is pleased to announce, in response to the President’s call to action via the Climate Data Initiative (CDI), the launch of Climate Ventures 2.0. In collaboration with NASA, the Wharton Social Impact Initiative, the Impact Hub, the MIT Climate CoLab and other CDI participants, Climate Ventures 2.0 will define new markets for climate change preparedness and identify, accelerate and deploy entrepreneurial solutions. Climate Ventures 2.0 will focus on innovations that leverage scientific and government data to enhance climate change preparedness in areas such as food security, agriculture, flood, and drought.
“Through his Climate Data Initiative, President Obama is calling for all hands on deck to unleash data and technology in ways that will make businesses and communities more resilient to climate change,” said John P. Holdren, President Obama’s Science Advisor. “The commitments being announced today answer that call.”
The Challenge. Just as the effects of climate change transcend sectors, jurisdictions and borders, so too must effective solutions. The White House demonstrated significant leadership in this space in March, 2014, when it launched the Climate Data Initiative (CDI), aligning Administration efforts to open data on climate change risks and impacts with ambitious private and philanthropic sector commitments to mobilize data and information technology for climate change action.
The data is there; the technology is there. The markets and entrepreneurs, however, are not. An effective response to a complex global problem like climate change demands the type of systemic, multilateral collaboration among institutional leaders that the CDI fosters. But new solutions are created most measurably, effectively and sustainably when entrepreneurs are engaged as agents of change, using proven processes to drive powerful outcomes.
The Response. GoodCompany Ventures empowers social entrepreneurs with proven strategies, powerful tools and efficient resources to (i) reframe persistent social problems as market opportunities, (ii) design and launch business models that scale to support long term change, and (ii) mobilize capital to maximize their impact.
“GoodCompany Ventures was designed to equip entrepreneurs with the tools they need to bring social innovation to scale." said Garrett Melby, Managing Director, "We are excited by the opportunity for Climate Ventures 2.0 create a platform to connect entrepreneurs with the world-class data, technology and financial resources that the Climate Data Initiative has mobilized."
Climate Ventures 2.0 Timeline
About GoodCompany Ventures
GoodCompany Ventures is a 501(c)3 nonprofit defined by the needs of the emerging social enterprise sector. The GoodCompany Ventures Capstone Accelerator identifies entrepreneurs with innovative ideas for social impact and helps them implement these ideas with the strategies and resources of the venture capital community. To date, GCV entrepreneurs have raised over $40mm in private capital to fuel social innovation.