The Social Impact Exchange announced today the launch of its 2011 Business Plan Competition. The Competition identifies social sector scaling initiatives with demonstrated impact and readiness to grow and supports the winners with financial and consulting awards.
The goal of the Competition is to help develop a strong pipeline of growth ready organizations and provide them with the resources to successfully take the next steps in their growth trajectory. Despite all the important work accomplished by nonprofit organizations over the last several decades, significant growth or scale has remained an elusive goal for most of them. The inability to achieve scale – that is, to make a meaningful and sustainable impact by serving larger numbers of those in need of assistance – has limited the potential of these organizations and the people they serve.
U.S.-based nonprofit organizations with a focus in education, youth development, health, poverty alleviation or community economic development are eligible to enter. Nonprofits enter the Competition in either the Early-Stage or Mezzanine-Stage Growth track. Click here for eligibility criteria.
During an 8-month evaluation process, entrants develop and submit business plans to scale their operations and improve the lives of people in need. Competition entrants have access to a website of resources on growth, take part in group training and one-on-one consulting, and receive customized written feedback on their plans.
Judging is conducted on a pro bono basis by professionals from the private, public and nonprofit sectors. Criteria for evaluation includes demonstrated quality, effectiveness and impact, marketability and scalability, expansion readiness, strength of the management team, systems for monitoring and assessing performance, and strength of the financial model and sustainability over the long term.
The final round of the Social Impact Business Plan Competition will take place at the 2011 Annual Conference on Scaling on June 15-16 in New York City.
Two outstanding organizations – The Parent-Child Home Program and Rubicon National Social Innovations – were selected as winners of the Social Impact Exchange’s 2010 Business Plan Competition. The winners received a total of more than $250,000 in financial and consulting services. Consulting was provided by Public/Private Ventures, a national leader in creating, strengthening and reproducing model programs, and The Whelan Group, specialists in financial planning, fundraising and capacity building services to growth-oriented nonprofits.
###
The Social Impact Exchange http://www.socialimpactexchange.org
is a national membership association for increasing investment and sharing knowledge on scaling high-performing nonprofit programs and initiatives.
About The Social Impact Exchange
The Social Impact Exchange is a community of funders, practitioners, advisors, wealth managers, intermediaries and researchers interested in developing practices for studying, implementing and funding large-scale expansions of top-performing nonprofit organizations. The Exchange serves as a focal point and gathering place for those interested in further building the field of scaling social impact, and a platform that facilitates the efficient flow of capital investments to scalable social solutions. The Social Impact Exchange was established by the Growth Philanthropy Network (GPN), in partnership with Duke University’s Center for Strategic Philanthropy and Civil Society and its Center for the Advancement of Social Entrepreneurs. Initial funding for the Exchange has been provided by the Robert Wood Johnson Foundation and the Rockefeller Foundation.
For more information, contact:
Social Impact Exchange
122 E. 42nd Street, 17th floor
New York, NY 10168
212-551-1148
www.socialimpactexchange.org