so what am i really doing here?

Program Developer, Village Capital (www.VilCap.com). What does that mean?

First, a brief VilCap overview: We democratize entrepreneurship. Village Capital uses the power of peer support to accelerate and invest in high-impact enterprises, and change the way investments are made.

Startups are cost-intensive to support and seed capital is rare, often making investment assessments of seed stage ventures economically inefficient. We’re looking to change that.

Inspired by microfinance “village banking”, participants learn to assess and evaluate each other over the course of a program focused on making companies investable, and do it in an astoundingly collegial and disciplined way. Village Capital has proven its peer-based, low-cost model through ten pilots worldwide: India (3), New Orleans (2) Bay Area (2), London, Boulder, and São Paolo. New programs for Spring 2012 include Atlanta, China & Nairobi, Kenya.

Sample program structure: 16 enterprises will participate in a 12-week accelerator program with program curriculum focusing on a variety of issues, including business model/financial literacy, customer validation, and preparation for investment. Sessions often take place in a shared workspace available to the entrepreneurs throughout the duration of the program (like Hub Atlanta).

Entrepreneurs receive:

Education: Village Capital curriculum will focus on preparing companies for investment; mentors and pro-bono advisors will supplement weekly sessions

A network: Weekly peer sessions create support, accountability, and a network among entrepreneurs.  Program-related events build relationships between companies and investors.

Access to capital: Two peer-selected companies will receive $50,000 each; the program will focus on heavy investor outreach to expose companies to potential investors/capital partners.

Partnerships are critical to the expansion and success of the VilCap model. Among other things, in-country partners with local knowledge are better at sourcing (finding) high-caliber entrepreneurs and understanding the landscape or social entrepreneurship in their respective locales. Partners also share the cost of the program, which is relatively inexpensive.

I’m working to build a VilCap partnership with Agora Partnerships, a pretty-well-known accelerator for entrepreneurs in Central America. Their flagship program, though they have others, is actually called the Accelerator, and though only in its second year, it is already very successful (by the standards of attracting investment/entreprenuer), and poised to grow. I’m going to figure out how this growth can potentially incorporate a Village Capital program.

I’ve only been here a week, so without going into too much detail of the plans in my conniving mind, I’ll just say that the two appear to be mutually reinforcing structures for many reasons, including the following: both take an investment approach to the selection of their entrepreneurs, both exhibit manic amounts of quality control over the sourcing of these entrepreneurs (as they should), the superficial elements (like the application process) are pretty aligned already, and both are addressing the same inefficiency in the investment cycle (investors looking for deal flow, entrepreneurs looking help to navigate the investment process & to build a network of like-minded peers.) Voila.

 and this is the front door of my office.

 and this is a fairly dark picture of my desk.

 

stats of the day, re: millennials

its been a busy one, so here are some other peoples words:

92% of millennials say in a survey that a company’s success should be measured by more than profit, and over 50% say they think businesses will have a greater impact than any other societal segment—including government—on solving the world’s biggest challenges. In a survey of more than 1,000 of its employees born after 1981, Deloitte Touche Tohmatsu found that when respondents were asked to name three terms that encapsulate the purpose of business, 51% cited societal development and only 39% cited profit.

[http://web.hbr.org/email/archive/dailystat.php?date=030512]

Data from the Center for Talent Innovation (CTI) shows that the vast majority of college graduates want to amplify their commitment to good causes through their employer. According to the Deloitte Volunteer Impact Survey (PDF), Generation Ys who frequently participate in their company’s volunteer activities are more likely to be very proud to work for their company, feel very loyal, and are very satisfied with the progression of their careers. In fact, for many recent college graduates, a robust corporate social responsibility (CSR) mandate makes a crucial difference in where they choose to work, with 77% of respondents in a recent study (PDF) indicating that “a company’s commitment to social issues is important when I decide where to work.”

[http://blogs.hbr.org/hbr/hewlett/2012/03/strengthen_your_workforce_thro.html]

I’m into this because I believe this. I believe that we’re community-oriented, and wired to care about our fellow human beings, beyond our immediate family or whomever we interact with daily. I believe that once shown the ripple effects of our actions, we will care about them. (Not that uncovering something is enough to incentivize behavior change, but awareness is a start, as long as we care.) I think that in the majority of us, we have an inherent capacity to hold ourselves and each other accountable in the pursuit of a more just society. I know, a lofty line. But if I want to support the rise of a more aware, more conscious form of capitalism that pursues growth and profit while mindful of social realities and both long term and unintentional consequences  – which I do – then I have to believe this. So today I’m an optimist.

Also, I’m inspired by this part in particular: “over 50% say they think businesses will have a greater impact than any other societal segment—including government—on solving the world’s biggest challenges.” Ok then, lets make that happen.