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2011 Social Innovation Fast Pitch

2011 Social Innovation Fast Pitch

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Published by Will Poole
Working document for Social Venture Partners Seattle's Fast Pitch initiative.
Working document for Social Venture Partners Seattle's Fast Pitch initiative.

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Categories:Types, Research
Published by: Will Poole on Feb 11, 2011
Copyright:Attribution Non-commercial

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05/10/2011

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Social Innovation Fast Pitch

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  Social Entrepreneurs need
forum for finding advisors, donors, investors, and partner organizations

Solution
 Compete – in an annual event for NFPs and social    
entrepreneurs Train – offer a 3-5 session training and mentoring program to prepare for the competition Engage – bring mentors, service providers, and funders from across the community to support training process Promote – generate broad awareness of the Fast Pitch process and the organizations competing to win Connect – use the network created by the SIFP program and the networks of sponsoring organizations to expand the impact of all participants

Goals
1. By Year 5: proven, self-sustaining
model that has been replicated in 5 US and 2 international cities. 2. By Year 3: self-sustaining model operating in Seattle, meeting needs and delivering measurable impact. 3. Year 1: successful first event, underbudget, answering key questions, delivering on key success metrics. 4. (Attainable) Stretch: Year 1 alignment with Ashoka-led or TED-India-led program in Bangalore India

Existing NFP’s need more community awareness, leadership capacity building, and mentoring Philanthropists and donors need efficient way to see and contribute to innovative social ventures

Implementation Concepts     
Select local angel group as Production Partner (done: Zino) SVP Seattle is Lead Partner. Responsible for year-1 underwriting and sourcing other partners, affiliates, and sponsors. Leverage best practices from business plan competitions and angel investment forums, as well as other SVP Fast Pitch cities Arrange grant prizes in categories that are timely and locally relevant: education, early learning, civic engagement, best use of tech, efficient collaboration, local environment, etc. Target: 5 Use entry criteria and rules to drive change, e.g.: require participants to evaluate collaboration with existing organizations before proposing new ones, look at importing programs from other cities rather than creating new; leverage new technologies to deliver on the mission more effectively; use hybrid for-profit models to enable scaling and sustainability. Partner, partner, partner: wherever possible, the Fast Pitch team will partner with existing organizations to leverage strengths and capacity and avoid reinventing wheels. Document everything we do and learn, with goal of making activity replicable in other US or international cities under SVP or other local sponsorship.

Team & Partners
Lead SVP Partner: Will Poole SVP Partners: Tony L., Rob S., Emer D., Janet L., Ben B. Production partner: Zino Community Innovation Partners & Potential Sponsors:           Ashoka (confirmed) Alliance of Angels (confirmed) Seattle U Entrepreneurship Center Technology Alliance <UW CIE, Global Social Entrepreneurship BPC> <Front Seat> <Other angel groups: NWEN, MIT Enterprise> <The Hub> <Tech Stars> <Code for America > <Global Washington> <Financial sponsors: law firms, foundations, wealth managers, etc.>

 

Success Metrics
1. Affordable budget with efficient use of resources 2. Engaged <x> NFPs and <y> startup social
entrepreneurs; <z> donors

3. $x in grant prizes raised and distributed 4. <zz> NFP ED’s or program managers trained 5. <z> new connections made between existing local
organizations; <z> more with out-of-area organizations

Contact: Will Poole, SVP Seattle: willp <at> creativecap.org

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