A Month of Entrepreneurial Stories

Our Inclusive Entrepreneurship work at the Case Foundation is built upon the core value that we must change the way we all talk about entrepreneurship, expanding who we lift up as success stories and busting myths that hold entrepreneurs back. National Entrepreneurship Month gave us a great opportunity to dive into the subject again and to celebrate entrepreneurs from a wide variety of backgrounds. It also gave us a chance to provide an honest look at some of the challenges of entrepreneurship.

We focus our work in Inclusive Entrepreneurship on challenges across race, place and gender, driven by the stark statistics that show the disparities faced by diverse entrepreneurs. Just looking at venture capital distribution reveals that only 10 percent of venture-backed companies have a female founder and only one percent have an African American founder. And just 75 percent of all venture capital is being distributed to just three states; California, New York and Massachusetts. Talent is everywhere; opportunity is not. And many of these elements are central to the stories that were at the core of our National Entrepreneurship Month blogs.

November 1st was both the first day of National Entrepreneurship Month and National Stress Awareness Day, so we kicked off our series with an examination of the role stamina and support plays in becoming an entrepreneur. We asked our #FacesofFounders entrepreneurs how they manage the stress of launching and running a business. See what they said in Confronting the Dark Side of Entrepreneurship.

On Veteran’s Day, we shined a spotlight on veterans in entrepreneurship and ways to support them. Our friends at Bunker Labs took to #FacesofFounders to share how the organization is working to build an ecosystem to support veteran entrepreneurs. Read what CEO Todd Connor had to say in How Bunker Labs Is Building an Inclusive Ecosystem for Veteran Entrepreneurs.

Then we looked back at the Essence Festival panel our senior vice president, Sheila Herrling, moderated with a group of entrepreneurial changemakers. Herrling shares some of the top takeaways from the informative and action-inspiring conversation in Changing the Face of Entrepreneurship.

Finally, to celebrate Small Business Saturday and #Giving Tuesday we focused on some of the many ways individuals can support entrepreneurs running businesses of all sizes. Not every entrepreneur has the same financial and social resources, and in Keeping Entrepreneurship at the Heart of the American Experience, we highlighted the many ways that individuals can support entrepreneurs in their daily lives and with the purchasing decisions they make.

We hope these stories has given you a chance to learn more about entrepreneurs, their valuable contributions and how you can support them. To learn more and to access a list of resources on these subjects, visit our website, follow our Medium publication #FacesofFounders and subscribe to Breaking Good, the Case Foundation’s weekly newsletter, to see more from us on entrepreneurship, race, place and gender.

There is much more work to be done and while Entrepreneurship Month may be over, we will continue to champion building onramps to entrepreneurship for all with the goal of everyone having an equal chance at unlocking the American Dream. We hope you will join us.

#GivingTuesday: a Chance to Use Tech to Give Back

Some time ago, the idea of putting your credit card number on the internet seemed unthinkable, but today almost 80 percent of Americans shop online. And with the holidays coming up, online marketplaces are seeing an impressive spike in both traffic and orders. In fact, this year, more people are expected to shop online than in-store.

While e-commerce has forced traditional brick and mortar retail to evolve, the convenience of online shopping for consumers has been advantageous for online giving. This summer, we talked about how tech trends like the emergence of online payment platforms have made it that much easier for everyone to jump into philanthropy. Millennials are key players in that trend too; the Millennial Impact Report found that 80 percent of Millennials made donations last year, and 62 percent have expressed interest in using mobile as a giving platform.

In 2012, we helped support the first official #GivingTuesday campaign, founded by the 92nd Street Y and the United Nations Foundation. We were very excited to play a part in #GivingTuesday’s transformation from a campaign to a movement, both through our own donation matching campaigns and by supporting the overall tracking of fundraising activity each #GivingTuesday.

Five years later, it’s more convenient than ever to give. New platforms allow users to search for charities that match their interests, donate by shopping for things they’d already buy and use social media to donate and fundraise.

Here are some easy ways you can use tech to give on #GivingTuesday.

Donation Platforms

If you’re not sure where to start, there’s a variety of platforms that can help you find a cause you’re passionate about and verify the credibility of the organization behind it so you can donate with confidence.

If you shop online, you’re already familiar with PayPal, but did you know that you can also use the payment service for donations? The Paypal Giving Fund lets you browse charities and donate to them online through your PayPal account.

If you’re searching for a specific charity, or already know which issue you want to support, Network for Good* has an online database of over a million charities of all sizes and issue areas. You can also purchase Good Cards on the site if you want to give someone else a gift card that they can use to donate to the charity of their choice.

Interested in taking a more international approach to your giving?  Global Giving allows you to donate to vetted projects from around the world and will send you updates on how your money is being put to work.

And if you’re interested in helping educators in the U.S., Donors Choose can connect you to a public school in need. Teachers use the site to share the projects for which they need funds, and how much they need to reach their goals. You can use the site to donate to the classroom project of your choice.

Crowdfunding platforms

Donating to a crowdfunding campaign is a great way for people on a wide range of budgets to work with others in the online community to help someone in need, and there are several platforms you can use.

GoFundMe allows online donors to contribute to individuals or groups taking on a wide variety of projects and problems. And it’s making a real difference—more than $4 billion has already been raised through the site. If you’re looking to contribute to an individual or a new organization that hasn’t registered as a charity yet, GoFundMe provides that flexibility.

Crowdrise is a social fundraising tool that supports corporations, nonprofits and events. Nonprofits and individuals can set up fundraisers for their favorite cause with specific goals and timelines. Do you want to use your network to expand your impact on #GivingTuesday? Crowdrise can help you do that. The website also allows users to explore trending fundraisers and look for ones in the categories they’re interested in.

A different type of online crowdfunding source is Kiva. Kiva gives users a chance to lend as little as $25 to help people across the globe with everything from going to school to launching a business. Kiva donors get their loans repaid, and then can reuse the repayment for another loan, or withdraw it.

Purchase roundups

When checking out at a brick and mortar store, you’ve probably been given a chance to round-up your purchase to the nearest dollar or more and have that extra change go to charity. Now you can do that online, and you can choose which charity receives that extra money.

We micro give is an online platform that rounds your online and in-person purchases up to the nearest dollar and donates the change to the charity of your choice. The site allows you to set monthly maximums and provides users with an online dashboard to summarize their giving activity.

Similarly, Coin Up offers a website and an app that donors can use to have their credit and debit card purchases rounded up and donated. The site tracks your donations over time and sends a year-end donation total so you can see your yearlong impact.

Network for Good* recently launched Hippo Give, an app that also helps you make secure donations through purchase roundups. You can support multiple organizations with your spare change and see your donation activity tracked in real time. Hippo Give even makes a donation on your behalf when you get started. It should be noted that this is still in minimum viable product development stage (MVP), but it’s an exciting new platform that shows promise.

And finally, if you use Amazon.com, you can give back without spending an extra dime just by changing the URL. If you use https://smile.amazon.com/, 0.5 percent of your purchase total will go to the charity of your choice.

#Donate Using Social Media

Organizations and individuals often use social media to give their fundraisers a promotional boost, but now there are ways to donate directly though the social media sites themselves.

Facebook has a donating platform that organizations can use year-round to give their followers an easy way to donate and share. And this #GivingTuesday, the site is stepping up its commitment to support online giving through an up-to-$2 million matching campaign in partnership with the Bill and Melinda Gates Foundation.

You can also donate instantly across social platforms with Goodworld. All you have to do is comment or reply #donate on a participating cause’s Facebook or Twitter post, and you’ll be sent a secure, one-time link you can use to apply your donation.


Last year, #GivingTuesday saw a record $168 million in charitable donations, and we expect to see similar results from today’s activity. Every year, online platforms like these make it that easier, more interactive and more fun for users to donate to causes close to their hearts. Charitable giving is truly just a click away. We hope you’ve been inspired to give to a cause you care this #GivingTuesday (November 28 this year) and throughout the year.

 

*Brian Sasscer is on the Board of Trustees for Network for Good

Keeping Entrepreneurship at the Heart of the American Experience

Entrepreneurs are vital members of our communities. The products and services they provide, innovation they spur and jobs they create are critical to the economic wellbeing of a community and a core part of the American Experience. As we have seen in the growth of the Impact Investing movement over the past ten years, entrepreneurs are also increasingly focusing part, if not all, of their efforts on addressing social and environmental problems that other stakeholders have been somewhat ineffective at solving.

While we know that the idea of entrepreneurs toiling away by themselves alone in a garage is a myth, while bringing forward these innovative new ideas, many entrepreneurs do spend a significant amount of time working by themselves or in small teams before their business gets to scale. It takes a village to get a startup off the ground, but building the community needed to succeed can be challenging. For example, 48 percent of women founders cite a lack of available mentors as a barrier to success and the average cost to launch a startup is around $30,000 with reports claiming that 80 percent of funding for new businesses comes from personal savings, friends and family. This creates additional roadblocks for entrepreneurs without wealthy friends and families.

We believe that entrepreneurs are only as strong as the community around them — investors, ecosystem builders, their team, supportive policy and you! As we approach Small Business Saturday and #GivingTuesday, we have rounded up some of the ways that anyone, anywhere can help entrepreneurs succeed.

Head to #FacesofFounders to read more about how you can support the entrepreneurship ecosystem…

Bringing the Last Decade of Impact Investing to Life: An Interactive Timeline

Over the past decade, the Impact Investing movement has grown in extraordinary ways. We have seen investors and entrepreneurs from all backgrounds stepping up their commitment to bridge profit and purpose and embracing Impact Investing. In 2017 alone, the Ford Foundation committed $1bn from its endowment, TPG’s Rise Fund surpassed its $1.5bn fundraising target, and the world’s largest pension fund, JPIF, allocated over 1 trillion yen to socially responsible investments.

The pivotal milestones that have led us to where we are today wouldn’t have been possible without the group of innovators who came together in 2007 to formalize the term “Impact Investing.”

To celebrate 10 years of growth in the field, and to highlight these key milestones, we put together an interactive timeline. The timeline looks back at the last decade of growth in Impact Investing, and spotlights the many pioneers who jumped in and propelled it forward.

The moments captured on this timeline are just some of the activities that have helped to shape the ecosystem we have today, but they bring to light the importance of distinct actions that have pushed the field forward and created opportunities for others.

Take a look at the timeline below.


We hope this interactive timeline gives those within the sector an opportunity to reflect on our shared growth. For those who haven’t jumped in yet, we hope it shows the promise of the field as we work towards a future where Impact Investing is the norm.

Changing the Face of Entrepreneurship

At the core of the Case Foundation’s Inclusive Entrepreneurship work is finding solutions that allow all innovators, specifically women and people of color, to explore and participate in the entrepreneurship arena and all it has to offer.

As a part of the 2017 Summer Essence Festival, I had the pleasure to host an engaging panel discussion with Kristen Sonday, Co-Founder of Paladin (and a #FacesofFounders winner!), Kathryn Finney, Founder of digitalundivided and Brian Brackeen, CEO and Founder of Kairos. These changemakers are disrupting the image of who is and can be an entrepreneur and are part of a movement to seize the opportunity that inclusive entrepreneurship provides and dramatically change the distribution of capital required to make that happen.

On the Essence Festival stage, we had thoughtful and action-oriented conversation trying to unbundle what’s at play behind the following set of stats: If women are the fastest growing group of entrepreneurs, particularly black women, women-led businesses are outperforming their male peers in many VC portfolios and racially-diverse companies are outperforming industry norms by 35 percent, why does so little capital go their way? For context, less than 10 percent of venture-backed companies have a female founder; less than one percent have a black founder; less than one percent have a Latinx founder, and; a mere 0.2 percent have a black female founder.

These statistics make up the backdrop to the great conversation we had on stage. Key themes we covered are:

  • Talent is equally distributed, opportunity is not.
  • It’s not just about the financial capital; social capital is hugely important.
  • He (because it’s largely men) who make the decisions matters
  • Media plays a big role in setting default narrative and images of who is an can be an entrepreneur.

I hope you’ll watch and share your feedback on social media using  #FacesofFounders!

A New Form of Digital Philanthropy: Open Sourcing #FacesofFounders

Open source software, by its simplest definition, is a work of software whose source code is available for others to read, study, modify and redistribute with little restriction other than that the free access is maintained. Earlier this week, I wrote in an op-ed in the Stanford Social Innovation Review (SSIR) about how we at the Case Foundation see open source as another form of philanthropy—a digital one whose contributions influence the success of many by providing publicly accessible software. In the article, I shared how we see the potential of open source software and how it can spark innovation, accelerate social good and ultimately help change the world.

Building on the early work of Jean and Steve Case—pioneers in the democratization of information with AOL—technology has always been a crucial part of how the Case Foundation works, and our tech-centric legacy has led us to champion early ideas that are now commonplace such as online giving and digital advocacy. In the course of that work, we have often used open source technologies because of their scalability and opportunity for customization. Giving the technology we create for projects at the Foundation back to the open source community is the next logical step. As we take on new challenges and new campaigns that serve our movements, we will also begin to take the time to ask ourselves and the community if a project that we think would be good for our efforts would also be good for others’ efforts. If that is true, we will dedicate time and resources in the project to open source the components that the community needs. Our contributions will always follow the needs of our broader goals, and we will open source the work in which we and the community find of real value.

So, as a part of our commitment to this open source ideal, we are excited to release the code that powered our #FacesofFounders campaign. This open source code includes features that powered the social photo upload and filters, applicant and story submissions, and the distributed judging platform. By releasing this platform’s code into the community, we are aiming to help those looking to launch similar campaigns where applicants must submit information and have a pool of judges evaluate the submissions.

We designed this platform that powered the first phase of the #FacesofFounders campaign to attract entrepreneurs, particularly women founders and entrepreneurs of color, to share their photos and stories of entrepreneurship on FacesofFounders.org or on Twitter using #FacesofFounders. Launched at the White House’s South by South Lawn festival, in partnership with Blackstone Charitable Foundation, Google for Entrepreneurs and UBS, along with Fast Company, #FacesofFounders sought out and lifted up America’s dynamic entrepreneurs who are key to driving innovation and job growth. The winners of the crowdsourced contest, who were reviewed by our panel of 40 guest judges, were selected because they bridged innovation and a commitment to inclusiveness. We then featured the winners of the contest on FastCompany.com and our #FacesofFounders Medium publication.

The technology powering this campaign was a huge part of its success, and we’re excited to share this code with the open source community. Throughout the judging process, we received numerous comments on how easy it was to use. The platform has three unique components that are all a part of a combined codebase.

Social Media Profile Photo Filter

The first of which is the photo upload feature that allowed visitors to upload a photo (or select their Facebook or Twitter profile photo) and place a campaign-themed filter on top of it. The visitor could then make that filtered photo their profile image on their social media profiles, and the photo was added to a shared photowall on the homepage, which continually displayed all new and past filtered photos. In addition administrators had the ability to remove inappropriate photos from the homepage.

Story Submission

The second feature is the story submission system. In addition to, or instead of, uploading a photo, visitors could submit their story to the judging platform. This submission tool contains customizable forms and can be placed in a “closed” state once judging begins. All submissions entered through the form then go into a queue for a site administrator to assign to judges. Because the platform is built into WordPress, it is also possible to directly upload submissions via WordPress’s dashboard.

Story Review and Judging

The third and final component of this codebase is the judging platform. As visitors submit stories, they queue in the judging section of the backend. Once all submissions are final, assigned judges can log into the platform and request submissions to review. The judges score each submission on a numeric scale, and the platform uses those scores to begin ranking each submission. Site administrators can then log in and view the stories ranked by their aggregate scores to determine winners. The entire codebase comes packaged as a WordPress theme for easy deployment and visual customization using WordPress’s robust theme system.

This open source #FacesofFounders platform is a useful tool for organizations running any sort of applicant submission and review process, and it could be modified to accommodate a grant or scholarship application review, among other uses. If you have a pool of judges or reviewers who are geographically separated or difficult to coordinate on schedules, the platform accommodates such logistical challenges by facilitating an individualized back-end review process. We believe that this code will be integral for the prizes and challenges community.

Given the collaborative nature of the open source community, we are looking for organizations interested in using this code in their own campaigns, as well as suggestions for ways to improve the #FacesofFounders codebase. Moving forward, we plan to share more of the software powering other campaigns and efforts with the open source community.

We at the Case Foundation hope our work can help others, and we’ll do our part to help catalyze the open source movement as we share our resources, our time and our talents with the community. We are excited to share this multifunctional platform with the community, and we look forward to further contributing to this part of digital philanthropy.

You can find the #FacesofFounders platorm here.

Impact Investors Are Setting the Tone for Aligning With the SDGs

Earlier this fall we talked about the Sustainable Development Goals (SDGs)—a collective action agenda that offers a coordinated approach to ending global poverty. We were particularly inspired by the strong examples of SDGs providing a unifying framework for corporations to double-down on integrating impact. But corporations are not the only group of actors finding alignment across the SDGs. Some impact investors—a community that continues to grow in size and scope—are already there.

Since the SDGs were formalized in 2015, we’ve seen impact investors reframe their thinking across both measurement and the development of new products. And the data supports this with the latest Global Impact Investing Network (GIIN) Annual Survey reporting 26 percent of the investors surveyed already track performance of their investments to the SDGs. An additional 34 percent plan to do so in the future—this will represent more than half of the active respondents already engaged in Impact Investing. Of the respondents who participated, many cited easier communication of impact (78 percent) and alignment with global development structures (75 percent) as key strengths of using SDG-aligned language.

Advancements in Standards and Frameworks

Standardization around how we invest in—and measure—the SDGs will be critical to truly meeting the Goals. Establishing a coherent set of frameworks that guide investors on “how” will also help us speak the same language. This year alone we’ve seen a thoughtful emergence of some of these SDG-aligned frameworks. Many allow investors and companies to measure how their investments and enterprise activity contribute to “achieving” the SDGs. Different approaches to measuring and integrating the SDGs are a positive sign that they could become best practice around how the sector designs for impact:

  • SDG Compass developed by GRI, the UN Global Compact and the World Business Council for Sustainable Development (WBCSD) provides company-level guidance on measuring and managing the effect and contribution of companies toward the SDGs
  • Toniic—a global action community for impact investors – released a framework earlier this year to allow their investor community to align their investments with the SDGs. These framing facilitated better identification of synergies across global investment opportunities
  • The MSCI ACWI Sustainable Impact Index works across the public markets to consolidate the 17 Goals into five investible themes – basic needs, empowerment, climate change, natural capital and governance. The Index identifies companies that derive at least 50 percent of their revenue from products and services that address environmental and social challenges within these themes, and weights them accordingly.

Innovations in Products and Processes

Impact investors are also leading in other ways, experimenting with actual integration of the SDGs into their decision-making process. For these investors and managers, the SDGs offer guidelines on how they make decisions, the investments they select, the companies they support and how to measure that impact:

  • Encourage Capital, an emerging market-based private equity fund manager has identified five impact objectives all closely aligned with the SGDs—financial inclusion, climate change, sustainable infrastructure, sustainable seafood and water conservation. According to a GIIN Report on the SDGs, Encourage uses the SDGs to “ground the impact outcomes that might be more difficult to conceptualize.”
  • Sonen Capital, a multi-strategy impact investing manager framed its 2015 Annual Report around how its investment strategies link to the SDGs. According to the firm, the SDGS could be good for business, serving as a “compass” to ensure investments can be measured in their contribution to the Goals.
  • PGGM, the second largest pension fund in the Netherlands, modified their investment strategy to include “Sustainable Development Investments (SDIs)”. These investments must fulfill regular risk return requirements, while providing a substantial and measurable contribution to one or more SDGs. Aligning across six of the SDGs, PGGM focuses on climate change mitigation, water, food, and health.

The above are only a handful of the innovative experiments and commitments on the part of impact investors to make the SDGs a part of how we invest and what we measure.

To truly end global poverty and achieve the Goals, we’ll need many different folks around the table. Creating a common language for all actors is critical and we should continue to commit to learning from those who are experimenting. We hope that the development of measurement frameworks, investment products and ecosystem building will only increase over time. To facilitate doing that the right way, creating synergy across how we talk about the Goals will take us one step closer to effectively channeling capital to solve our most pressing challenges.

With thanks to Mai Nguyen (Social Innovation Intern at the Case Foundation) for her support in researching this piece.  

Confronting the Dark Side of Entrepreneurship

November is National Entrepreneurship Month, and the irony that the month kicks off with National Stress Awareness Day will not be lost on any entrepreneur.

Throughout the month, we at the Case Foundation will be celebrating entrepreneurs and all of the contributions they bring. When we talk about putting our Be Fearless principles into practice, it’s not surprising that we often turn to startup founders for inspiration. For “Make big bets” you can’t help but think of Sara Blakely and Jeff Bezos; “Let Urgency Conquer Fear” evokes the story of Daymond John; “Make Failure Matter” conjures images of Oprah who was told she wasn’t made for TV, Elon Musk, or Thomas Edison who famously declared, “I haven’t failed, I’ve just found ten thousand ways that won’t work.”

But the story of many entrepreneurs, because they can be so inspirational, can also become over-glamorized. What we don’t talk about enough, however, is the stamina — mental and physical — required to be an entrepreneur. It’s an essential part of the narrative of who is and can be an entrepreneur. And since that very notion was the premise of our recent #FacesofFounders campaign, we reached back out to some of those featured founders to take on the topic of stress management.

Head to Faces of Founders on Medium to see what they said.