Points of Light to Expand Civic Accelerator and Invest in More Civic Entrepreneurs Working to Solve Social Problems
Points of Light Announces a Two-Year Commitment to Action at Clinton Global Initiative America Meeting
ATLANTA, July 15, 2014 – Points of Light and key partners made a public Commitment to Action at the Clinton Global Initiative America (CGI America) meeting to educate, connect, and invest in 300 civic entrepreneurs launching early stage for-profit and nonprofit civic start-ups over the next two years.
The Points of Light Civic Accelerator is the first accelerator program and investment fund in the country focused on "civic ventures" – for-profit and nonprofit startups that include people as part of the solution to critical social problems. The three-month, boot camp-style program convenes 10-15 teams in person and online with the goal of equipping each startup to seek investments and scale their social innovations.
The Civic Accelerator and its partners have made a commitment to:
- Double the number of civic entrepreneurs reached to 300, who will engage more than 375,000 people as they work to boost tech-for-good and address critical education, environmental, economic and community development issues.
- Help support civic enterprises in key regions that have emergent, but still fragmented, entrepreneurial ecosystems, including the Southeast, Midwest, and Pacific Northwest.
- Build upon its core programming to include fast-pitch events and short-form sessions to further connect entrepreneurs to local leaders, mentors and investors in these key regions.
The Civic Accelerator's founding supporters, PwC Charitable Foundation and Starbucks Foundation, provide financial and thought leadership support. Other partners include SAP as a technology sponsor, Blackstone Charitable Foundation as a Southeast regional sponsor, Outerwall as a Pacific Northwest regional sponsor, and Hilton Worldwide as the official hotel sponsor. Points of Light works with other program partners including Village Capital, Stanford University, Smallify Innovation Labs, and the Transformative Action Institute.
Seven out of 10 start-ups, including social ventures, fail before they are able to prove their business models and have an impact. That’s why Points of Light and its partners launched the Civic Accelerator in 2012 to address gaps in the market and ecosystem, working with diverse entrepreneurs to help accelerate and scale their civic startups while tapping into the talents and assets of individuals, corporations, and community partners.
Civic Accelerator founder, Ayesha Khanna, stated, “We are thrilled to make a CGI Commitment to Action as we work with partners to launch scalable and sustainable civic startups that will help build regional economies and address complex community issues. We are looking for new partners to help us scale our impact across the country.”
The Civic Accelerator welcomes new partners such as local businesses, universities, entrepreneur organizations, and community leaders with vested interests in regional economic and community development. New partners of interest include national issue-experts, corporations, foundations and research institutions. To learn more about the CGI America commitment, visit www.cgiamerica.org/commitments/?id=882935.
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About the Points of Light Civic Accelerator
The Points of Light Civic Accelerator is the first accelerator program and investment fund in the country focused on "civic ventures" – for-profit and nonprofit startups that include people as part of the solution to critical social problems. The three-month, boot camp-style program convenes 10-15 teams in person and online with the goal of equipping each startup to seek investments and scale their social innovations. The Civic Accelerator was launched in 2012, in partnership with Village Capital, and receives generous support from PwC Charitable Foundation and Starbucks Foundation, both founding partners, and from the Blackstone Charitable Foundation, SAP and the official hotel sponsor, Hilton Worldwide. For more information, go to www.civic-x.org and follow @PointsofLight #CivicX.
About PwC Charitable Foundation, Inc.
The PwC Charitable Foundation, Inc., a section 501(c)(3) organization, makes charitable contributions to the people of PwC in times of financial hardship, and to nonprofit organizations that support and promote education and humanitarianism.
About The Blackstone Charitable Foundation
The Blackstone Charitable Foundation directs its resources and applies the intellectual capital of the firm to foster entrepreneurship and job creation in select geographic areas across the United States and globally.
About the Clinton Global Initiative America
The Clinton Global Initiative America (CGI America), a program of the Clinton Global Initiative, addresses economic recovery in the United States. Established in June 2011 by President Bill Clinton, CGI America brings together leaders in business, government, and civil society to generate and implement commitments to create jobs, stimulate economic growth, foster innovation, and support workforce development in the United States. Since its first meeting, CGI America participants have made over 300 commitments valued at more than $15 billion when fully funded and implemented. To learn more, visit cgiamerica.org.
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI), an initiative of the Bill, Hillary & Chelsea Clinton Foundation, convenes global leaders year-round and at its Annual Meeting to create and implement solutions to the world’s most pressing challenges. CGI also convenes CGI University, which brings together undergraduate and graduate students to address pressing challenges in their communities and around the world. To date, members of the CGI community have made more than 2,800 Commitments to Action, which are already improving the lives of more than 430 million people in over 180 countries. When fully funded and implemented, these commitments will be valued at $103 billion. For more information, visit clintonglobalinitiative.org and follow us on Twitter @ClintonGlobal and Facebook at facebook.com/clintonglobalinitiative.