The Force for Good Fund

HOW I SERVE

Great People Innovating, Inventing, and Doing Great Things

I search for emerging companies, technologies, disruptive technologies, innovations, start-ups and up-starts. I’ll look to match potential problems - e.g. “plastic pollution” to solutions e.g. "3D Printer for recycled plastic waste" - for venture capitalists, angel investors, and online funders. I’ll also highlight a variety of topics including funding success stories, the environment, housing, artificial intelligence, science, medical, aging populations, disabled populations, social entrepreneurs, philanthropy, and topical news. I’m always searching for great people innovating, inventing, and doing great things. 

I don’t endorse. Only disseminate.

The 411: Investor Opportunity for Doing Good
Found on: http://www.lifteconomy.com/forceforgood/

The Force for Good Fund invests in women and people of color-owned,“Best for the World” B Corporations (i.e., companies that score in the top 10% of B Corps worldwide).

Q: What is this project all about?

B Corps are a growing community of more than 2,200 companies--including Patagonia, Ben & Jerry’s, Etsy, Seventh Generation, and Eileen Fisher--that aspire to use the power of business to solve social and environmental problems.

The Force for Good Accelerator is designed to help nurture, support, and grow women and people of color-owned, high-impact, “Best for the World” B Corporations (i.e., companies that score in the top 10% of B Corps worldwide).

This fund is needed because it is incredibly difficult for early-stage, socially and environmentally responsible businesses run by women and people of color to access non-extractive capital.

The support services are also needed because the decisions that entrepreneurs make very early in the life of the company (e.g., where to seek financing, who to choose as their suppliers, who to hire, how to split equity/ownership, etc.) can severely restrict the company’s ability to maximize its positive impact over the long term.

The Force for Good Accelerator / Fund is an innovative opportunity to support these early-stage entrepreneurs with the guidance, access to capital, and connections they need in order to be successful.

Q: What are the objectives of this project? 

The objectives of this pilot project include, but are not limited to:

• Becoming the world’s first accelerator / fund that is specifically designed to nurture, grow, and launch “Best for the World” B Corporations (i.e., companies that score ~130 points or above on the B Impact Assessment and have earned B Corp Certification)
• Increasing the number of women- and people of color-owned/managed B Corps
• Increasing the number of B Corps who are seeking to address climate change through their business model
• Helping start-up and early stage companies earn Pending B Corp status by:
• Incorporating stakeholder interests into their foundational legal documents (e.g., incorporate as a benefit corporation) to give them the freedom to pursue more than just profits
• Guiding them through the B Impact Assessment to help them implement best practices from the start, with a goal of achieving B Corp certification as soon as they are eligible
• Connecting prospective B Corps to a thriving network of over 2,000 B Corp mentors, potential suppliers, and referral partners

 

Q: What are the top 5 reasons I should support this fund?

This fund is important for several reasons, including:

1. Democratizing Capital:
We successfully crowdfunded over $400k during our initial fundraising campaign from September 7 - November 7, 2016. This allowed anyone to invest as little as $1k. We then raised $700k from accredited investors by Summer 2017.

2. Diversity and Inclusion:
There are not enough female entrepreneurs and entrepreneurs of color in the socially responsible business community. At a minimum, 51% of all companies who participate in the Force for Good Accelerator / Fund must be owned by women. Similarly, at least 51% of all participating companies must be owned by people of color. These are both minimum requirements, not the maximum.

3. Climate Change Solutions:
Global warming has become too powerful of a threat to ignore. Companies that have a business model that is specifically designed to mitigate the negative effects of climate change (e.g., regenerative agriculture, carbon sequestration, alternative energy, eco-literacy, etc.) will be given preference for participation in this project.

4. Capital + Services:
Giving a company money and hoping for the best has had mixed results. The Force for Good Accelerator / Fund combines investment capital with a year of consulting services to help entrepreneurs work on their vision, culture, strategy, and operations. These support services are needed because, among other things, the decisions that entrepreneurs make very early in the life of the company (e.g., where to seek financing, who to choose as their suppliers, who to hire, how to split equity/ownership, etc.) can affect the company’s ability to maximize its positive impact over the long term.

5. The Global B Corp Movement:
The B Corp movement provides this accelerator / fund with a few important tools. First, all participating companies will get assistance in becoming a Certified B Corporation (with a goal of becoming “Best for the World” B Corporations) within one year. Second, accelerated companies will receive support in incorporating stakeholder interests into their foundational legal documents (e.g., incorporating as benefit corporations) within one year. Finally, participants will be connected to a thriving network of over 1,850 B Corp mentors, potential suppliers, and referral partners to help them dramatically enhance their chances of long-term success.

 

Q: Will you give preference to certain industries / business models / diverse teams? 

Yes.

• At a minimum, at least 51% of all companies accelerated must be owned/managed by women.
• Similarly, at least 51% of all companies accelerated must be owned/managed by people of color.
• These are both minimum requirements, not the maximum.

Preference will be given to companies that meet the following characteristics:

• Companies whose business model is specifically designed to mitigate and reduce the effects of climate change (e.g., regenerative agriculture, carbon sequestration, alternative energy, eco-literacy, etc.)
• Companies that can become models for the development of local living economies supporting regional local self reliance. Models, in this context, means companies that provide needed goods and/or services whose practices and methods could be regionally replicated and adapted.
• Companies that prioritize worker ownership or worker inclusion in decision making.