CIVIC ACCELERATOR FAQs
Who is eligible for the Civic Accelerator Program?
The the Points of Light Civic Accelerator is seeking innovative social ventures that are working to create greater, more accessible pathways to economic opportunity in communities across the U.S. For more information, please visit our Eligibility page.
Who is behind the Civic Accelerator program?
The Points of Light Civic Accelerator was founded with support from the PwC Charitable Foundation and the Starbucks Foundation, in partnership with Village Capital.
What is the relationship between Points of Light and Village Capital?
Both Points of Light and Village Capital are separate, stand-alone 501 (c)(3) nonprofit organizations. We have a shared mission around supporting social entrepreneurs which brought us together to launch the Civic Accelerator program.
Does the Civic Accelerator support both for-profit and nonprofit ventures?
Yes. We are agnostic to legal structure and instead focus on the mission and impact that a social enterprise can have on the world.
What are the terms for the $50,000 peer investment program?
At the conclusion of the Civic Accelerator program, two teams will be selected to receive $50,000 investments each, with the decision being made by the entrepreneurs themselves. If the team is a for profit, the investment will be made as an 8 percent convertible debt note, at a 20 percent discount or convertible to 7.5 percent equity after two years. If the team is a nonprofit, the investment will be made as a revenue share agreement tied to earned (unrestricted) revenue. All returns from these investments will be reinvested in future startups participating in the Civic Accelerator program.
Does the Civic Accelerator cost anything?
No, the Civic Accelerator does not charge for participation. Ventures are, however, responsible for their travel and lodging expenses during the program. Travel stipends and some hotel accommodations are available for selected ventures, and most meals during the program are provided by Points of Light.
What are the logistics for the Civic Accelerator program?
The Civic Accelerator is a 12-week program, bringing together two- to three-person teams from across the U.S. We plan to convene the entire cohort of 10 to 15 teams for three four-day sessions or retreats over the course of the 12 weeks. In addition, teams will be grouped based on their geography, paired with local mentors and required to meet weekly (through virtual mediums) during the times when they are not together as a single cohort. Find out more about the Civic Accelerator schedule here.
How do I apply for the Civic Accelerator program?
Applications for the spring 2016 Civic Accelerator program will open in January. You can apply and find more information at visit cvcx.org. If you have any questions, please don’t hesitate to contact us.