Local Organizations Selected to Expand Social Enterprise
Press Release – August 8, 2017 – SAN DIEGO, CA – Mission Edge and The San Diego Foundation today announce the launch of the San Diego Accelerator and Impact Lab (SAIL) to empower nonprofit organizations and purpose-driven businesses to develop and grow sustainable revenue-based business models in alignment with their social missions.
SAIL is comprised of five major modules led by Mission Edge and Impact Without Borders, including business model articulation, pilot design, pilot outcome review and business model validation, business planning, and investment preparation. Participants will build relationships with mentors and investors, attend presentations and workshops, and have access to tools and expert advisory services. The program culminates in a final pitch event, hosted by Qualcomm, that will connect SAIL participants with mentors, investors, and potential collaborators within the San Diego community.
“The San Diego impact sector is ripe with ideas for social enterprise and we’re excited to help launch these ideas into reality. SAIL gives organizations the opportunity to test assumptions about their customers and market, develop a business canvas that answers essential questions about their products or services, and confirm whether the market will pay for some or all of what they provide,” says Mission Edge CEO, Ken Davenport. “It’s a classic rapid innovation process that is used in business, and it will help organizations develop opportunities to better control and grow their revenue streams.”
Sponsored by The San Diego Foundation, Union Bank, and Qualcomm Incorporated, the 10-week program will run from August 17 to October 24, 2017. Participating organizations include:
“Diversifying revenue streams through a social enterprise model offers organizations a new level of financial stability and empowers them to focus on their mission. SAIL is an innovative program that equips organizations with the tools, resources, and know-how to become more economically sustainable and enhance their impact in San Diego,” says Kathy Patoff, Chief Operating Officer of the MUFG Union Bank Foundation.
According to the University of San Diego Caster Family Center for Nonprofit and Philanthropic Research, 62 percent of San Diego nonprofits report annual earnings below $50,000. In addition, more than 50 percent of nonprofit funds come from contributions. Consequently, many 501(c)(3) organizations are vulnerable to economic downturns and financial instability.
“Each year, The San Diego Foundation collaborates with and supports our county’s nonprofit and government sectors,” noted Kathlyn Mead, President & CEO of The San Diego Foundation. “Sustainability of programs and services for the most vulnerable in our communities is paramount. The SAIL Program will embolden an entrepreneurial spirit in our most innovative nonprofits. SAIL will encourage solutions-oriented business ideas that will revolutionize the thinking of our local nonprofits.”
To learn more about SAIL, please contact Mission Edge at email@example.com and connect with us at #SAILwithMissionEdge.
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