nonprofits,local leaders & Grt.New Haven business sharing information
SOCIAL IMPACT EXCHANGE ANNOUNCES LAUNCH OF
2012 BUSINESS PLAN COMPETITION
New York, NY: October 3, 2011 – The Social Impact Exchange announced today the launch of its 2012 Business Plan Competition. The Competition identifies social sector scaling initiatives with demonstrated impact and readiness to grow, and supports the winners with financial and consulting awards.
“There are many strategies for achieving scaled impact, it’s not just about scaling an organization” said Cynthia Massarsky, Vice President and Director of the Social Impact Exchange. “We are also interested in scaling programs, policy initiatives, media and advocacy campaigns, nonprofit collaboratives, social movements and marketplace solutions,” she said.
The goal of the Competition is to help develop a strong pipeline of scale-ready initiatives and provide them with the resources to successfully take the next steps in their growth trajectory. Despite all the important work accomplished by nonprofit organizations over the last several decades, significant growth or scale has remained an elusive goal for most of them. The inability to achieve scale – that is, to make a meaningful and sustainable impact by reaching larger numbers of those in need – has limited the potential of these organizations and the people they serve.
U.S.-based nonprofit organizations with a focus in education, youth development, health, poverty alleviation and community economic development are eligible to enter. Nonprofits enter the Competition in one of two tracks: Early-Stage Scaling Initiatives or Mezzanine-Stage Scaling Initiatives. Click here for eligibility criteria.
During an 8-month evaluation process, entrants develop and submit business plans to scale their “social solutions”. Competition entrants have access to a website of resources on growth, take part in group training and one-on-one consulting, and receive customized written feedback on their plans.
Judging is conducted on a pro bono basis by professionals from the private, public and nonprofit sectors. Criteria for evaluation includes demonstrated quality, effectiveness and impact, marketability and scalability, expansion readiness, strength of the management team, systems for monitoring and assessing performance, and strength of the financial model and sustainability over the long term.
The final round of the Social Impact Business Plan Competition will take place in June at the 2012 Symposium on Scaling Impact in New York City.
The Social Impact Exchange is a cross-sector, member-driven association for sharing knowledge and increasing investment in scaling effective social programs and solutions.
About The Social Impact Exchange
The Social Impact Exchange is a community of funders, practitioners, wealth advisors, intermediaries and researchers interested in developing practices for studying, implementing and funding large-scale expansions of top-performing nonprofit programs and organizations. The Exchange serves as a focal point and gathering place for those interested in collaborating to further build the field of scaling and to developing an efficient capital marketplace that provides reliable funding for scalable social solutions.
The Exchange was established by Growth Philanthropy Network (GPN), in partnership with Duke University’s Center for Strategic Philanthropy and Civil Society at the Sanford School of Public Policy, and the university’s Center for the Advancement of Social Entrepreneurship (CASE) at Duke’s Fuqua School of Business. The Exchange receives primary funding from The Robert Wood Johnson Foundation and a group of charter members including The Rockefeller Foundation, Bank of America Charitable Foundation, The Kresge Foundation, Mayer Phillips Foundation, The Starr Foundation, W. Clement & Jessie V. Stone Foundation and American Express.For more information, contact: