New Startup Accelerator For Social Entrepreneurs Targeting Climate Change And Water Systems
Wednesday, February 1, 2017
Social entrepreneurs fighting climate change: There’s a new accelerator that might be for you.
Called Climate Ventures 2.0, it’s run by GoodCompany Ventures, a Philadelphia-based social enterprise accelerator, and will accept 10 startups aimed specifically at addressing climate-related threats to agriculture and the resilience of water systems.
With substantial funding from the William Penn Foundation, each of the entrepreneurs accepted into the program will get $25,000. Another $75,000 from the foundation will fund pilots for cutting edge startups that are too innovative to attract much investor capital. “In that case, a substantial pilot is a critical path to getting access to private capital support,” says Garrett Melby, co-founder and executive director of GoodCompany Ventures.
Plus, next month, with design firm IDEO, the foundation will fund a global innovation challenge–a virtual hackathon for working on ways to address climate change-related threats to agriculture and water systems. Melby expects that as many as 200 ventures will participate; two of those folks will be accepted into the accelerator. GoodCompany Ventures, a nonprofit, doesn’t take an equity stake in the companies.