SEATTLE – October 15, 2015 – For the past 100 years, we’ve left the problems of “social good” to charities, foundations and governments, allowing the for-profit sector to focus solely on money, jobs, and economic development.
The trouble is, the problems of the world continue to expand, while the majority of the money, infrastructure, and power lie in the for-profit sector. If only businesses solved the important problems of the world, their success would lead to profits, scaling up those solutions, then more profits, more scaling, and so on, in a virtuous, self-sustaining cycle.
This is the fundamental premise at Fledge, the conscious company accelerator, which focuses on startups solving audacious problems by using for-profit business models.
Today Fledge is excited to announce its first $1 million invested into such companies.
“Fledge is proving that it is possible for startups to do good, by doing business,” says Fledge’s founder, Luni Libes, “and not just Seattle or just American startups, but startups from North and South America, Europe, Asia, and Africa.”
39 “fledglings” have graduated from the six Fledge programs run over the last three years. Companies such as Evrnu, making cotton recyclable; BURN Manufacturing and Obamastove, manufacturing clean cookstoves in Africa; Distributed Energy Management, conserving energy through financial management; Ensibuuko, modernizing the savings and credit co-ops of East Africa; Seeder, matching green builders with green building suppliers; East Africa Fruit, aggregating and distributing fruits and vegetables in Tanzania, Deehubs, at the corner of free speech and social media; Shift Labs, designing medical devices for the developing world, and dozens of others (see fledglings.fledge.co).
Each of these companies received an investment from Fledge, plus 10 weeks of intense training, guidance, and mentorship. Since graduating from Fledge, these companies have raised more than $10 million in follow-on funding, earned millions in total revenues, and created over 300 jobs, all while saving lives, saving trees, cleaning the environment, and alleviating poverty.
“A few of the fledglings are already profitable, which shouldn’t be surprising, as profits come from solving problems”, as Luni often reminds skeptical investors.
With the first million dollars proving the model, Fledge now looks forward to more investments in more fledglings over the coming years.
Investors who want to see their money used to solve real problems can contact Fledge, as can anyone who can help these companies grow and prosper.
ABOUT FLEDGE – http://fledge.co
Fledge is the conscious company accelerator, educating, guiding, and mentoring mission-driven for-profit startups from around the world. Founded in 2013, Fledge has completed six sessions of its 10 week accelerator program, graduating 39 “fledglings”. Fledge operates inside Impact Hub Seattle in Seattle, Washington.
ABOUT MICHAEL “LUNI” LIBES – http://lunarmobiscuit.com
Luni is a 20+ year serial entrepreneur, most recently founder of Fledge, the conscious company accelerator, and the Entrepreneur in Residence at Pinchot University. Luni is the author of The Next Step series of guidebooks on entrepreneurship, and The Pinchot Impact Index, outlining a technique for measuring impact across a portfolio of companies.