The centerpiece of our Entrepreneurship @ Work program is a new initiative, SOURCE: Solutions from Our Country's Entrepreneurs.
What is SOURCE?
SOURCE links entrepreneurs and investors focused on social challenges that affect low-wealth Americans. The initiative connects entrepreneurs building market-based solutions with the investment capital, mentoring, and support needed to grow their businesses.
SOURCE is a partnership between The Hitachi Foundation, Investors' Circle, and Village Capital, with additional support from The Rockefeller Foundation, and the Sorenson Global Impact Investing Center. SOURCE will expand the number of entrepreneurs we support tenfold, while also strengthening their connections with mentors and potential investors.
The initiative is a first-of-its-kind collaboration between the three organizations that addresses the existing disconnect between investors and entrepreneurs by engaging investors, mentors, and communities early in the business building process.
SOURCE will work with groups of roughly fifteen entrepreneurs in cohorts that are focused on specific problems that lend themselves to entrepreneurial solutions. The initiative engages the entire value chain of customers, policymakers, corporate partners, and local assets to find viable entrepreneurial solutions to societal issues.
SOURCE will bring local investors together with entrepreneurs. At the conclusion of each three month cohort, the entrepreneurs select the two most promising businesses from among their peers for investment capital.
SOURCE welcomes additional partners and will cultivate a funding continuum for enterprises and year-round engagement for local investment networks. This partnership builds a pipeline of high-growth, solutions-based companies and strengthens the entrepreneurial ecosystems in strategic U.S. regions.
SOURCE seeks to create a greater awareness in America about the important role businesses play in the nation's economic and social fabric. SOURCE's founding partners will collectively capture and disseminate their findings to showcase how business innovations improve the lives of low-wealth populations.
In its first year, the issue areas will be financial inclusion, healthcare, energy, and agriculture (planned).