From Shark Tank to innovation accelerators, we’ve all seen a lot of pitch competitions rise in popularity over the past few years. Start-ups and nonprofits alike have jumped on the competition bandwagon in the hopes of attracting crowdfunding or venture capital.
On April 7, social enterprise consulting firm Inspiring Capital is re-imagining the Pitch competition by offering an infusion of professional talent as an alternative to financial investment, at the first-ever Pitch for People event. Based on their belief in the catalytic power of human capital, Inspiring Capital will grant a year’s worth of free consulting services to the winning social venture, alongside auxiliary legal and communications consulting from Thomson Reuters Foundation and Brunswick Group.
30 ventures applied, 17 were shortlisted, and these 6 were chosen as finalists. The diverse group of finalist ventures all are under 2 years old and have less than $250,000 in revenue, with broadly ranging missions: providing breakfast and jobs for the homeless, bill-paying for seniors, international language learning via Syrian refugees, urban farming solutions, an investment platform for the mission-driven investor, and modernized healthcare in Bangladesh.
Without gadgets, gizmos, or consumer products, these ventures are unlikely to ever make the cut for Shark Tank. What unites these varied ventures is their commitment to pursuing models that integrate profit and purpose, which is also Inspiring Capital’s criteria for clients. To win, each venture will attempt to prove that their model not only is the most integrated in this double-bottom-line approach, but also that they are well-prepared to adopt and capitalize the talented professionals and consulting advice.
Inspiring Capital’s Founder and CEO, Nell Derick Debevoise, comments: “For any early-stage venture, having the right people is so important. For ventures that are taking on the challenge of doing well by doing good, having ‘multi-lingual’ talent that understands business and your mission is essential. We believe that this is the new economy, and we’re so happy to support ventures that can utilize our talent to achieve transformative growth that will change the world.”
Inspiring Capital has taken on consulting projects for more than 30 social enterprises, nonprofits, and Corporate Social Responsibility departments since its founding in 2012, from The Doe Fund to YouthInc to F.B.Heron Foundation. In turn, their professional development programs–for business professionals seeking to leverage their skills for good– have trained and launched more than 70 MBAs, women, and undergrads into work with purpose.
Alex Hanken, who heads up Inspiring Capital’s recruiting and training efforts, explains what sets their consultants and professional development programs apart. “We select for people who are themselves trying to make the same effort to integrate profit and purpose, and who don’t believe that making money and making a difference have to be at odds. Our programs deliberately seek the highest-caliber business professionals — whose educational and functional backgrounds qualify them for top jobs on Wall Street– and provide them the alternative to exercise those same strategic, financial, and operational skillsets for organizations that align with their personal purpose and ethos.”
For the lucky social venture that wins the Pitch for People, these consultants will become essential team members– they’ll get a functional CFO, CMO, or research team in the form of short-term engagements with IC’s MBA and Women’s Program alumni, as well as consulting sessions throughout the year for legal help from TrustLaw (via Thomson Reuters Foundation) and communications advising from Brunswick Group staff. For orgs. with already limited budgets and massive social missions, this is catalytic human capital, indeed.
To attend the Pitch for People on April 7 and hear the 6 finalists pitch for the winning spot, tickets are still available, but space is limited.
For more information on Inspiring Capital’s consulting services or professional development programs, visit inspiringcapital.ly
