NewswireToday - /newswire/ -
Philadelphia, PA, United States, 2009/04/07 - GoodCompany Ventures is a business incubator targeting entrepreneurs with innovative solutions to unmet social needs. GoodCompany Ventures champion models that offer investors financial return and social impact.
GoodCompany Ventures, a team of social finance investors and start-up experts, today announced the launch of a business incubator targeting entrepreneurs with innovative solutions to unmet social needs. The program will provide facilities, mentoring and access to a network of capital sources to qualified entrepreneurs whose business models offer investors an attractive mix of financial return and social impact. The program will culminate in a venture fair where companies will pitch their ideas to investors.
“The program is the first of its kind in the social sector, repurposing a proven venture strategy in this emerging sector," stated Jacob Gray, Murex Investments Partner. “Unlike conventional venture incubators, GoodCompany Ventures doesn’t extract an equity commitment from entrepreneurs, but expects a commitment of time and creativity toward building a community of social entrepreneurship.”
“This incubator program will be a pioneer,” said Garret Melby, founder of Iolite Social Capital. “Just as Xerox Parc, Idea Lab and other technology incubators helped create the foundation of the information economy, GoodCompany Ventures will support entrepreneurs seeking to build a socially and environmentally sustainable economy.”
Applicants will be recruited nationally via venture capital, social finance, and academic networks. A pool of eight to twelve candidates will be selected to participate in the 2009 incubator program that begins in June.
The program has been developed jointly by Resources for Human Development, Inc. (RHD), an innovator in social finance with a successful track record in social enterprises, and Murex Investments, a “double bottom line” equity fund backed by leading financial institutions.
Applications for the GoodCompany Ventures Program are now being accepted online at our website. The application deadline is May 15, 2009, with a rolling admissions policy. The first acceptances will go out on May 1st.
About GoodCompany Ventures
GoodCompany Ventures catalyzes (goodcompanyventures.org) 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.