Harvard i-lab | Positioning Your Social Venture in the New Funding Landscape | Summary and Q&A

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December 15, 2014
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Harvard Innovation Labs
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Harvard i-lab | Positioning Your Social Venture in the New Funding Landscape

TL;DR

New Profit is a venture philanthropy fund that invests in social entrepreneurs and organizations to drive transformative change in education, public health, and workforce training.

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Key Insights

  • ๐Ÿ”  New Profit's venture philanthropy model applies principles from the venture capital market to the nonprofit sector to support scalable social innovations.
  • โšพ The organization evaluates social entrepreneurs based on their vision, impact, growth potential, and alignment with New Profit's values.
  • ๐Ÿ New Profit's investments have reached 9 billion lives in the past 15 years and have helped organizations achieve significant growth and impact.
  • ๐Ÿ’— The field of venture philanthropy has grown, with more organizations focusing on education, workforce development, and poverty alleviation.
  • ๐Ÿ“บ Effective social entrepreneurs demonstrate clarity of vision, data orientation, and resource mobilization skills.
  • ๐Ÿฅบ Targeted problem-solving through collaborative communities called "domains" can lead to larger, systemic change in specific issue areas.
  • ๐Ÿ‘ New Profit seeks to invest in organizations that have the potential to transform their fields and create leverage for social change.

Transcript

thank you so much for having us here today we're really excited to be here before we get started our twitter handle is at newprofit only tweet nice things and it's funny we were going to start our session by asking how many people had already started ventures how many people had gotten them funded so for those of you who have already received some ... Read More

Questions & Answers

Q: What is the purpose of New Profit's venture philanthropy fund?

New Profit aims to break down barriers to opportunity in America by funding and supporting social entrepreneurs and organizations with innovative solutions in education, public health, and workforce training.

Q: How does New Profit select organizations for funding?

New Profit has a rigorous selection process that includes referrals, applications, and in-depth due diligence. They evaluate the strength of the social entrepreneur, the direct and systemic impact of the organization, its capacity for growth, and alignment with their mission.

Q: Can for-profit social enterprises be funded by New Profit?

While New Profit primarily funds non-profit organizations, they are open to considering for-profit ventures if they align with their mission and show potential for scalable impact. They have made a couple of investments in for-profit ventures in the past.

Q: How does New Profit support the organizations they invest in?

New Profit provides financial support over several years, strategic guidance, and a seat on the organization's board. They also offer resources for leadership development, impact evaluation, and fundraising campaigns to help the organizations achieve scale and sustainability.

Summary & Key Takeaways

  • New Profit is a venture philanthropy fund that supports social entrepreneurs and organizations in scaling their innovative solutions to create transformative change.

  • The organization invests in visionary leaders, provides financial and strategic support, advocates for stronger outcomes, and convenes leaders across sectors to find innovative solutions to social issues.

  • New Profit focuses on funding organizations that have demonstrated impact, capacity for growth, and alignment with their mission and values.

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