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A few years back, I learned about a group of philanthropists in Los Angeles who started an American-Idol-style competition called Social Innovation Fast Pitch (SIFP) in which early-stage nonprofits compete for funding. Their program extended the “venture philanthropy” model used by Social Venture Partners, where partners contribute capital in concert with expert volunteering, management advice and personal connections in order to increase the capacity and sustainability of local organizations creating social impact. The results of LA’s Fast Pitch were encouraging. All participants reported significant growth, whether or not they received funding, unlike traditional grant funding and angel investment, where participants who lose gain little. The healthy win-win competition connects innovators to hundreds of community volunteers and civic leaders. Those are just four of the passionate innovators presenting.
Broadcast Yourself. Broadcast Yourself.