GoodCompany Ventures
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GoodCompany Ventures is a community that supports entrepreneurs starting for-profit businesses with social goals. It helps companies in areas like clean tech, social finance, education, public health and community building with innovation, creating impact, and implementing their ideas. GoodCompany Ventures ensures these ventures consider demands, exiting strategies, markets, profitability, scalability, and competition, as well as operations, sales, marketing, finance, legal and accounting matters. They are accepting applications - those interested can contact them.
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GoodCompany Ventures
- 1. Where Profit meets Purpose GoodCompany Ventures is a community of service for entrepreneurs developing for-profit businesses with social impact. Profitability does not require sacrificing purpose.
- 2. Clean Tech Social Finance Learning Public Health Community Building
- 4. DEMAND EXIT MARKET PROFITABILITY SCALABILITY COMPETITION TEAM
- 6. Operations Sales Marketing Finance Legal Accounting
- 9. Come join us! Now Accepting Applications info@goodcompanyventures.org www.goodcompanyventures.org
Editor's Notes
- GoodCompany Ventures is now accepting applications for admission for our Summer 2010 ProgramLast year, in March, with no marketing budget or track record, we put out a call for applications which only ran for a couple of weeks.We new we had found an unmet need when we received applications from five continents. This year we hope to get some from Australia and Antarctica. From these applications we accepted 10 companies into the program with a mix from the industry sectors listed above.
- This year, we expect to accept 12 companies.Our screening for these companies will be around Innovation, Impact, and ImplementationInnovation: Is the business innovative, bringing a new technology, business model or insight to bear on social issues. Impact: What sectors are being targeted, is it scalable, what is the depth of the impact, and how likely is it to achieve.Implementation: Is this idea achievable, commercially sustainable, are the risks understood, and can we help themIf the idea is strong enough in terms of innovation and impact, we welcome the challenge to help design the implementation. How can we optimize the revenue potential of social project? How can we finance it? This is what we do.
- Our curriculum reverse engineers a successful meeting with potential investors. We make sure that you, entrepreneur, understands that better mousetrap is useless without a commercial context that answers investors key concerns. We help you to meet investors on yourown terms. We insist that good intentions are no excuse for poor planning or reduced expectations. Each week we bring in expert speakers to present each element of the curriculum. An important element of our boot-camp format is that each company is required to present to their peers the successful application of that week’s topic to their own business before we proceed to the next week’s program.
- To support this curriculum, each company is teamed with MBA interns. We are developing relationships with social enterprise programs at leading business schools across the country.Its worth noting that over the last 3 months we have had 20 Wharton students providing volunteer support to GoodCompany Ventures and our graduates. I imagine that’s more than are interning at Goldman Sachs. If you want to see the future, pay attention to the priorities of these future leaders.
- We provide all companies with volunteer mentors that assist companies in the development of their business model and plan.Last year,3 of our 10 companies filled crucial leadership roles in their teams from our mentor pool. Experienced entrepreneurs and senior executives are excited about helping young start ups. Its rare for them to have an opportunity for public service that uses their professional skills and we continue to have overwhelming interest in participation in our mentor program. We also structure pro bono service opportunities and community events for our professional service sponsors. There are lots of outlets for professional service firms to show their support the venture community, but none of them come with the service opportunities and public relations potential of our program.
- After an intensive summer, we present all of the companies to the regional angel and early stage community. We were very proud to have all ten companies in our pilot program reach a stage that we felt was suitable to present to skeptical investors. We chose to create a bootcamp rather than perpetual incubation resource for entrepreneurs. Having a graduation date gives the program a goal, a deadline and a deliverable. This concentrates our resources and energy and forces the entrepreneurs to make choices, present their best articulation of their vision and begin executing.
- Following the completion of our pilot program last summer, we had some Wharton interns conduct a survey of what our participants valued most. The answers highlighted collaboration and community. Garrett is gong to wrap up this portion of the program with a few words about the community we are building. We are committed to building a community of service for social entrepreneurs. GoodCompany Ventures decided early on to build the incubator as a nonprofit and that we wouldn’t take take equity or fees from our companies. We don’t pay our experts and we don’t offer our sponsors exclusives on access to the companies. While there are plenty of professional benefits from supporting our program, the ethos of our community is that these benefits are earned by service and a demonstrated commitment to the success of our entrepreneurs. When I say this is different from other incubators, what I mean is, there’s nothing like it.I hope that our message and the discussion you are about to hear resonate with you and that you will get in touch with us about joining our community.