With the rise of the B-Corporation and the L3C business entities, social entrepreneurs are providingvaluable products and services while adhering to a set of socially responsible principles, and making asubstantial social impact. If you throw in a twist of the web with that equation, there’s a lot of untappedopportunities awaiting in the near future.Just think about the billions in revenue companies such as Google, Facebook and others in Silicon Valleygenerate! If we can expand the web startup culture to urban areas around the country
(and around theworld for the matter)
imagine how much change that can bring…particularly
The Need In Local Communities
In addition to the need for more economic opportunity,
College students are looking to gain experience in a field of study or passion while attending school.
Disadvantaged youth need an outlet of empowerment due to various socio-economic challenges theyface.3. There’s a huge lack of African American, Hispanic, and Women new media entrepreneurs (
whilebeing the highest consumers of new media
Local businesses and aspiring talent need dedicated support and consultation on how to effectively usethe web to gain exposure.
Local residents want to explore their communities, connect with like-minded people, and save moneyon their purchases.
Local wealth is being sucked out of neighborhoods by non-domestic corporations. This leads to lessfunds circulating in local communities.Currently, no organization exists to tackle these problems as a whole.We intend to fill this huge gap.
Web startup incubators, which are highly concentrated in California, have created significant amounts of wealth for young people throughout the past several years. Young entrepreneurs bring their idea to theincubator, and the incubator provides capital, connections, and resources to build a working prototype of their web app in exchange for a small percentage of equity. A good example is Y-Combinator, which hadaboard a startup that sold for $200+ Million.