Watch the Forbes interview with Ross Baird, executive director of Village Capital and Wisebanyan CEO Herbert Moore (peer-selected by the FinTech cohort):
What is SOURCE?
SOURCE is a new initiative that links entrepreneurs and investors focused on social challenges that affect low-wealth Americans. The initiative connects entrepreneurs building market-based solutions with the investment capital, mentoring, and support needed to grow their businesses.
SOURCE will work with groups of roughly fifteen entrepreneurs in cohorts that are focused on specific problems that lend themselves to entrepreneurial solutions. The initiative engages the entire value chain of customers, policymakers, corporate partners, and local assets to find viable entrepreneurial solutions to societal issues.
SOURCE will bring local investors together with entrepreneurs. At the conclusion of each three month cohort, the entrepreneurs select the two most promising businesses from among their peers for investment capital.
SOURCE builds a pipeline of high-growth, solutions-based companies and strengthens the entrepreneurial ecosystems in strategic U.S. regions. SOURCE welcomes additional partners and will cultivate a funding continuum for enterprises and year-round engagement for local investment networks.
SOURCE seeks to create a greater awareness in America about the important role businesses play in the nation's economic and social fabric. SOURCE's founding partners will collectively capture and disseminate their findings to showcase how business innovations improve the lives of low-wealth populations.
10.2.14 $100,000 Awarded to e-Chromic Technologies and PAX Pure for their Clean Tech Business Solutions
9.23.14 $100,000 Awarded to Rimidi Diabetes and TruClinic for Health Business Solutions that Benefit Patients and Providers
7.3.14 Forbes: New Company Helps Low-Wealth Families Start Investing For Free
6.30.14 $100,000 Awarded to eMoneyPool and Wisebanyan for their Business Solutions that Benefit Low-Income Americans
4.8.14 SOURCE Initiative Links Entrepreneurs and Investors to Bolster Businesses that Benefit Low-Wealth Americans - View the Press Release