The selection criteria at Fledge, the conscious company accelerator are easy to explain. 1) Team, 2) Impact, and 3) Odds of success. The subtleties within each of these concepts and the whole selection process takes a bit more explanation: 1. Team Unlike most of the other accelerators focused on social good, Fledge is behind the scenes, a for-profit impact investment fund. We invest in every...
In the traditional world of early stage, Angel and VC investing, money is local. Studies show that over 80% of funding at Angel groups and Series A VCs goes to businesses in the same city/region as the funders. Over in the impact investing space, this rule is not true. Socially and environmentally conscious entrepreneurs are tackling global, planet-scale issues, often well outside the investment...
In a Day in the Life, the Beatles tell us, “now they know how many holes it takes to fill the Albert Hall”. In the day in the life of the entrepreneur, who is there to say how many holes there are yet to fill? A few times last week, I was questioned as to why anyone needs a business accelerator vs. following in the path I took, learning the trade “in the streets” by...
Great startup mentors are a bit like magicians. In the midst of an ordinary conversation, they are able to amaze and astound their mentees with ideas and advice that seem to be pulled out of an empty hat. In my daily work with entrepreneurs, I see such acts of magic almost every day. I see entrepreneurs picking their jaws up off the floor after one astute comment causes a major redo of their...
Here in the State of Washington, we lost our patience with the Federal government, it’s JOBS Act, and the lack of rules making progress at the SEC. In 2014, we passed the Washington Jobs Act, and starting November 1st, it is legal for Washington businesses to sell equity to any Washington residents. With some limits. Companies can raise up to $1 million Investors can invest the greater...
In working with 100+ entrepreneurs at my accelerator, my pre-accelerator, in my MBA class and elsewhere, I constantly see entrepreneurs looking forward into the unknown future, but few looking backward. Not backward into the past, but backward from their ultimate goal. This is most easily explained by stepping back to pre-school, back to the time when you first learned about mazes: In this maze...
In the complicated path from idea to startup, there often come times when a larger-than-normal hurdles get in the way. Not impossible hurdles. Not something outrageous. Just a hurdle that seems difficult, but which can be solved using brute force. Brute force solutions can take a few hours of effort or a few weeks of effort. The commonality is that they are monotonous, time consuming, and...
Here in the State of Washington, we lost our patience with the Federal government, it’s JOBS Act, and the lack of rules making progress at the SEC. In early 2014, we passed the Washington Jobs Act, and are moving forward toward legal equity crowdfunding for Washington companies and residents. The last step in that process are the rules from our State regulator, the Department of Financial...
Another year, another 2,200+ impact investors, foundations, nonprofits, and social entrepreneurs gathered together at SOCAP, the social capital conference, the intersection of of money + meaning. With up to 11 simultaneous sessions over multiple days, plus a dozen scheduled meetings, and two dozen unscheduled, I barely scratched the surface of the event. In this post, I summarize a few of my...
Early stage impact investors face a market that has few acquisitions, fewer IPOs, and is filled with entrepreneurs who liken selling their companies to selling out. How can investors earn a reasonable (or market rate) return? This workshop will share the investment structure used by Fledge – the conscious-company accelerator – as a framework for discussing and sharing our ideas for investing in a...
