LaunchKC opens applications for new Social Venture Studio; five slots expected for cohort focused on KC
January 26, 2022 | Startland News Staff
Entrepreneurs hoping to provide both social impact and return on investment are encouraged to apply for the inaugural cohort of LaunchKC’s Social Venture Studio — an effort focused on creating sustainable business models to tackle social, racial, or environmental issues.
Click here to apply through March 30.
The studio is seeking a diverse cohort of leaders, organizers said. Five to seven companies are expected to be selected for the six-month program — prioritizing Kansas City entrepreneurs for the first cohort — receiving professional support, grant awards ranging from $10,000 to $50,000, temporary office space, mentoring and network connections to strengthen their social venture business concepts.
A culmination event in the fall will be a chance for the companies to reveal their pitches to potential funders and supporters.
LaunchKC, an initiative of the Economic Development Corporation of Kansas City, Missouri (EDCKC) and the Downtown Council announced the first-of-its-kind Social Venture Studio in November during Global Entrepreneurship Week.
Click here to read more about why organizers are launching the program.
Reconciliation Services, which owns a prominent Kansas City social venture, Thelma’s Kitchen, will closely advise as a social venture industry expert and, as with all other LaunchKC efforts, Keystone Innovation District will administer programming, with consulting from Jacqueline Erickson Russell, founder and CEO of Social Impact Advisory Group.
The Social Venture Studio was made possible thanks to financial support from The Sunderland Foundation Hadley Project.
“Increasing access to capital, resources, and opportunities for BIPOC and female leaders is imperative to both solving social problems and having a robust business community,” said Erickson Russell. “Social Venture Studio will be empowering the next high-growth organizations who can lead the way to a more prosperous and equitable future.”
LaunchKC continues to see momentum, its leaders said, wrapping up its seventh year, having invested $3.5 million in cash grants to 86 companies, as well as continuing to strengthen its mentorship ecosystem.
Forty-nine percent of LaunchKC participant companies are minority or woman-owned businesses and $236 million in follow-on funding has gone to support these companies, according to LaunchKC.
2022 Startups to Watch
stats here
Related Posts on Startland News
Yelp for DEI: New tech gives public a tool to share discrimination concerns in real-time, empowers companies to monitor, improve
Aishah Augusta-Parham’s tech platform has a goal rooted in impact: help business owners become more mindful of diversity, equity, inclusion efforts in their day-to-day operations — better ensuring their customers do business with companies and brands that embody shared values. “We are the Yelp of diversity, equity, and inclusion,” Augusta-Parham said, detailing the mission behind…
Dough-re-mi: Choir teacher’s pop-up pie hustle bakes her second verse from scratch
On any given weekday, Ann Lewis Marzette can be found in the classroom, teaching and training students in the Kearney Middle School choir. But when the clock strikes 3 p.m., she trades sheet music and scales for mixing bowls and measuring cups, embracing a side hustle that has her singing dough-re-mi — while customers serenade…
Return on investment: Why the co-founder of tech giant Dropbox just donated $500K to Blue Valley schools
Blue Valley schools, teachers, and students are expected to benefit greatly from a newly announced fund launched by the homegrown Johnson County tech entrepreneur who later co-founded the cloud storage giant Dropbox. Arash Ferdowsi, a 2004 graduate of Blue Valley Northwest High School, has put up $500,000 to launch the Arash Ferdowsi Fund, which benefits…
Ronawk accelerates its growth with exec hires, creation of expansive ‘Bio-Block Universe’
Synergy and chemistry are just as important as expertise when hiring strategic, high-level positions within a startup, said A.J. Mellott. “Ronawk has gone from this startup with its organized chaos, to having structured pathways that have emerged because we are better informed. That in itself has been really exciting and stimulating. We are more of…