Deadline: March 2, 2018
Points of Light invites applications for the Spring 2018 Civic Accelerator Program. The Civic Accelerator “CivicX” is the first national accelerator program and investment fund in the country focused on “civic ventures” — for-profit and nonprofit early stage ventures that include people as part of the solution to critical social problems. The 10-week, boot camp-style program convenes 10-15 teams in person and online with the goal of equipping each venture to seek investments and scale their social innovation.
The Civic Accelerator is seeking applications from early stage for-profit and nonprofit ventures who are increasing the financial well-being and economic mobility of underserved populations. It asks the question: How might we advance digital inclusion and 21st-century tech skills for all to succeed in the innovation economy?
The Points of Light Civic Accelerator was founded with support from the PwC Charitable Foundation and the Starbucks Foundation, in partnership with Village Capital. Program sponsorship provided by Capital One, U.S. Small Business Administration, Vodafone Americas Foundation, Hilton Worldwide, Dentons and Singing for Change.
- A limited air travel stipend ($1,200 total for the 10-week program) and hotel accommodations are available for selected ventures, and most meals during the program are provided by Points of Light.
- At the conclusion of the Civic Accelerator program, two teams will be selected to receive $50,000 investments each, with the decision being made by the entrepreneurs themselves.
- If the team is a for profit, the investment will be made as an 8 percent convertible debt note, at a 20 percent discount or convertible to 8 percent equity after two years.
- If the team is a nonprofit, the investment will be made as a revenue share agreement tied to earned (unrestricted) revenue. All returns from these investments will be reinvested in future startups participating in the Civic Accelerator program.
Open to early stage for-profit and nonprofit ventures from across the U.S.
To be eligible, you must answer YES to the following:
- Is your venture registered in the U.S.? Our current focus is on supporting U.S.-based start-ups, both for-profit and nonprofit, though your customer or user base can be anywhere in the world.
- Do you address the current workforce innovation challenge?
- Are you launching a “civic venture?” Does your startup achieve a social or environmental mission by engaging people as a core part of the solution?
- Are you in the startup phase? They do not select ventures at the idea stage. You should have a prototype or have completed a pilot program prior to applying.
- Have you recruited a minimum of two to three people to join your team?
- If your venture is a nonprofit, have you developed a means to generate earned revenue?
- Is your venture a social enterprise? A social enterprise is an organization that applies business strategies to achieving social or environmental goals and can be structured as a for-profit or nonprofit.
- If accepted, will you be able to attend the entire Civic Accelerator program? To be eligible, at least one of your team members must be able to attend all three sessions in full.
For more information, visit Points of Light Civic Accelerator.