Cleveland’s Take on Social-Charitable-Venture-Entrepreneurship

Jay Parkhill July 23rd, 2008

The New York Times has an article on a Cleveland organization called Jumpstart that helps match entrepreneurs from underserved communities attract financing.

Shifting Careers – Venture Financing With a Mission Beyond Profit – NYTimes.com

The twist in this case is that financing comes from private companies, foundations and government instead of venture investors.

Founder Ray Leach opines that Boston and Silicon Valley don’t need institutions like Jumpstart, but I disagree.  Cause-based investing is challenging and requires special commitment from financial backers.  The Bay Area has existing funds like this, such as the Omidyar Network and Pacific Community Ventures, but to my mind all communities can benefit from organizations and funds with explicitly double or triple-bottom line ideals.

Tags:
  • twilightshirts
    I might be in this situation soon, and given the information I’ve found online so far, it seems there isn’t much to do in Conway. Any ideas?
  • pixbook
    I agree with you that our services and investment resources are needed in communities like Silicon Valley as well as in the Midwest.

  • This is a great example of the marriage of social/charitable causes with real-world capitalism. The two aren't mutually exclusive, so why not bring them together in new and interesting (and highly effective) ways?
  • Jay - if you look at this article you will see that this quote came from one of our entrepreners versus from me in the article - I agree with you that our services and investment resources are needed in communities like Silicon Valley as well as in the Midwest. Thanks.
  • Thanks for the clarification, Ray. it sounds like you have a terrific
    program going.
blog comments powered by Disqus