The Social Innovation Fast Pitch, Seattle is seeking applications for the Social Innovation Grants and Investments 2011 program from social entrepreneurs and leaders of existing non-profit agencies for new and innovative programs.
SIFP programs are relevant for nonprofit, hybrid and for-profit business models that address critical social issues with business rigor and the promise of sustainability. The business models should provide investors with attractive social and/or financial returns. For-profit entities which apply for SIFP should ensure that the social mission is deeply embedded in, and a central component of, the business model.
The SIFP program is open to social entrepreneurs and non-profits, as well as to new programs in existing agencies, with the most fundamental requirement being that any applicant must be operating in and have substantial impact in the Puget Sound area. Social innovation of all forms will be competitive for SIFP 2011. Example areas expected to see significant innovation in include:
– Protecting and sustaining our environment.
– Educating everyone, from cradle to career.
– Strengthening individuals’ health, and that of the entire community.
– Empowering our youth as social entrepreneurs.
The SIFP program encourages social innovation. Social Innovation comes in all shapes and sizes. The SIFP team will not proscribe forms of innovation, but it is believed that plans or groups utilizing the following concepts will have an “edge” in the competition:
Technology for Social Gain. Innovative applications of technology –hardware, software and/or web services– to drive sustainable low-cost social impact.
Collective Impact. New collaborations that increase impact and decrease cost in servicing missions of multiple organizations, or proposals for starting or extending “collective impact” models of system change.
Local Impact, Global Relevance. Local operations and impact that also has international replicability
Social Innovation Grants and Investments
For their first year in operation, SIFP will have a minimum of $150,000 in grants and investments to distribute to winning contestants. Specifics of the grants and investments are still in process, but are targeted as follows:
Grants to non-profit entities: either established 501c(3) organizations, or those seeking NFP status, or those with established 501c(3) as fiscal agent:
Two $25,000 grants for Revolutionary Social Innovation
Three $10,000 grants for Sustainable Evolutionary Social Innovation
$6,000 in grants for Youth Ventures-ventures started and run by high school and college age individuals ($1,000 for high school, $5,000 for college)
$14,000 in grants for innovation in targeted areas, to be announced
One $50,000 investment fund, to be invested in one or more organizations depending on stage of maturity and other investments already attained, and subject to customary investment due-diligence processes.
Last date for submission of application is August 22, 2011
For more information and details, you can visit this link.