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.
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: social entrepreneurship