Angel-style investment forum with Social Focus for Seattle
v1.4, May 2011
Mission: Increase speed and depth of innovation in socially-oriented organizations
Needs Solution Goals
Social Entrepreneurs need Compete – in an annual event for NFPs and social 1. By Year 5: proven, self-sustaining forum for finding advisors, entrepreneurs model that has been replicated in 5 US donors, investors, and Train – offer a 3-5 session training and mentoring and 2 international cities. partner organizations program to prepare for the competition 2. By Year 3: self-sustaining model Engage – bring mentors, service providers, and operating in Seattle, meeting needs Existing NFP’s need more funders from across the community to support and delivering measurable impact. community awareness, training process 3. Year 1: successful first event, under- leadership capacity Promote – generate broad awareness of the Fast budget, answering key questions, building, and mentoring delivering on key success metrics. Pitch process and the organizations competing to win Philanthropists and Connect – use the network created by the SIFP 4. (Attainable) Stretch: Year 1 alignment donors need efficient way program and the networks of sponsoring with Ashoka-led or TED-India-led to see and contribute to organizations to expand the impact of all participants program in Bangalore India innovative social ventures
Implementation Concepts Team & Partners
Select local angel group as Production Partner (done: Zino) Lead SVP Partner: Will Poole
SVP Seattle is Lead Partner. Responsible for year-1 underwriting
SVP Partners: Tony L., Rob S., Emer D., Janet L., Ben B. and sourcing other partners, affiliates, and sponsors. Production partner: Zino Leverage best practices from business plan competitions and Community Innovation Partners & Potential Sponsors: angel investment forums, as well as other SVP Fast Pitch cities Ashoka (confirmed) Arrange grant prizes in categories that are timely and locally Alliance of Angels (confirmed) relevant: education, early learning, civic engagement, best use of Seattle U Entrepreneurship Center tech, efficient collaboration, local environment, etc. Target: 5 Technology Alliance <UW CIE, Global Social Entrepreneurship BPC> Use entry criteria and rules to drive change, e.g.: require <Front Seat> participants to evaluate collaboration with existing organizations <Other angel groups: NWEN, MIT Enterprise> before proposing new ones, look at importing programs from <The Hub> <Tech Stars> <Code for America > other cities rather than creating new; leverage new technologies <Global Washington> to deliver on the mission more effectively; use hybrid for-profit <Financial sponsors: law firms, foundations, models to enable scaling and sustainability. wealth managers, etc.> Partner, partner, partner: wherever possible, the Fast Pitch team Success Metrics will partner with existing organizations to leverage strengths and 1. Affordable budget with efficient use of resources capacity and avoid reinventing wheels. 2. Engaged <x> NFPs and <y> startup social Document everything we do and learn, with goal of making entrepreneurs; <z> donors activity replicable in other US or international cities under SVP or 3. $x in grant prizes raised and distributed other local sponsorship. 4. <zz> NFP ED’s or program managers trained 5. <z> new connections made between existing local organizations; <z> more with out-of-area Contact: Will Poole, SVP Seattle: willp <at> creativecap.org organizations