Inclusive Entrepreneurship

Getting In the Arena: The Entrepreneurial Spirit

Posted on by Case Foundation

As we announced in January, the Case Foundation is committing its 20th Anniversary year to calling on all to “Get In The Arena.” And, while most of our efforts focus on how each and every one of us can take action on the issues and challenges that matter the most to us in 2017, we also are highlighting lessons we have learned from Getting in the Arena over the past two decades.  Our hope is future endeavors of others are informed by the sharing of past learnings.

It should come as no surprise that among the most important lessons we’ve learned is the power of the entrepreneurial spirit in driving innovation and impact across the social sector.

Of course, the entrepreneurial spirit has been central to the American Experience since our earliest days as a young nation. In his book Empire on the Edge, Nick Bunker writes the following on the founding of America: “It was always eccentric, the British Empire on the mainland of America. From the time of Jamestown and the Mayflower, almost every colony came into being by means of private enterprise. They were small, experimental ventures in search of profit, in search of God. Each one was a painful exercise in trial and error, with seldom a firm guiding hand from London.”  In other words, America was born of the entrepreneurial spirit.  And it is a common belief even today, that this has been the secret sauce that has powered our economy, built innovations to improve lives and forged new political and cultural systems and frameworks that have enabled the American people to thrive in what has become the longest-established democracy in the history of the world.

Too often, the entrepreneurial spirit is perceived to be of relevance exclusively in the business sector.  And yet, as my own career has taken me from the public sector, to a career in technology in the private sector, to my current roles in the philanthropic/nonprofit sector as CEO of the Case Foundation and Chairman of the National Geographic Society, I have come to recognize the critical importance of entrepreneurial approaches across all sectors.  Indeed, given that these sectors outside of business are usually focused on the human condition or more broadly on the needs of our planet, the challenges they face can be daunting. Perhaps there is no greater need for fresh approaches, risk taking and an eye toward innovation than in those sectors.

And, over the past 20 years, we have seen the entrepreneurial spirit thrive in non-traditional settings — across sectors, across our nation and around the globe. For example:

Launching Challenge.gov: Working with the White House as our partner, we co-hosted the White House Summit on Innovation that brought together 35 U.S. government agencies using contests and grand challenges to tap “the wisdom of the crowds” across the nation in finding solutions to major challenges faced by government agencies. We partnered with experts in prizes and challenges, such as the X-Prize, and used the Summit as training ground to encourage agencies to put forth challenges to drive innovation.  Some of our favorite outcomes of this work include:

An enduring outcome of this work is Challenge.gov, a site that anyone can access to find out what contests and challenges are active.  Since its launch in 2010, 740 challenges have been run on Challenge.gov, eliciting entries from 250,000+ citizens from all 50 states and a number of foreign countries. By challenging the status quo, leveraging the creativity and innovation of new audiences and tapping the entrepreneurial spirit of the American people, the U.S. government’s work was improved at a much lower than expected cost and more citizens than ever have been engaged.

Connecting frontier communities in Africa: Internet connectivity remains a major challenge throughout Africa. Yet companies like Facebook, Google and startups like BRCK* have developed non-traditional solutions to connect schools and villages that are on the edge, and past, the traditional internet and electric infrastructure. Overcoming the traditional mindset that pipes must be built and that wires must be strung to deliver access, and working around many of the government procurement barriers that have stunted growth in the past, BRCK has developed a connectivity device that can jump from Ethernet, to WiFi, to 3G seamlessly with an 8-hour battery life when the power is out.  This is why, a recent article in Forbes referred to BRCK’s innovation as a “clever confluence of technology and entrepreneurial spirit.” To overcome the connectivity problems, Facebook announced plans to lay over 500 miles of fiber cable in Uganda this year and has even experimented with drones to provide internet access to remote locations. And Google is stringing over 1,000 kilometers of fiber cable in two of Ghana’s largest cities to serve the growing number of internet provider companies in these cities. Thanks to private sector actors like Facebook, BRCK and Google, internet access can be found in hospitals, community centers, libraries, barbershops, even on buses, where it was never available before. These entrepreneurs have solved a long-standing problem by embracing the entrepreneurial spirit.

Democratizing access to information: In the past, access to complex data was often restricted to those in government or at major research universities. These restrictions were not based on national security needs, but by historical tendencies and entrenched interests. Today, across many platforms, we are seeing visionaries, using open source and crowd sourcing models to leverage wider communities to advance science, innovation and exploration.  For example, Sarah Parcak, an associate professor of Anthropology and director of the Laboratory for Global Observation at the University of Alabama at Birmingham, has broken down the wall between academia and citizens, by sharing infra-red satellite imaging from commercial and NASA satellites with citizens so they can help identify potential archeological sites for further exploration. Her work in places like Egypt and the Sinai Peninsula has been groundbreaking, but her commitment to locating and protecting hundreds of thousands — even millions — of still undiscovered ancient sites that remain buried all over the world pushes the impact of her work to the next level.

Sarah’s launch of GlobalXplorer.org on January 30 embodies the entrepreneurial spirit in non-traditional areas that is so inspiring to us. This unique platform enlists a global community and enables anyone with an internet connection to discover the next hidden burial site or community using satellite technology. The platform uses satellite imagery provided by DigitalGlobe, and highlights content from National Geographic and taps the public’s time, brainpower and inquisitive nature, to map Peru in search of archeological sites hidden due to modern human activity.

And Sarah is not the only explorer and innovator working this way. We see numerous examples in the open source world where entrepreneurs and innovators are creating new and innovative platforms that are improved and updated by the wider community.

This isn’t a new idea. Every major advancement or breakthrough across society came from someone trying something that seemed a little crazy.  Long before President Kennedy ushered in an era of entrepreneurial efforts to get us first to the moon and then beyond, major leaps benefiting mankind had been the result of someone, somewhere making a commitment to #GetInTheArena with new ideas for solving old, daunting problems.  In fact, the Challenge.gov website proudly notes that similar challenges aided Charles Lindbergh’s famous transatlantic flight and the design for the U.S. Capitol building. Risk taking, a sense of urgency, a willingness to fail and a dogged perseverance are part of the formula that has defined the entrepreneurial spirit and brought us breakthroughs.  From where we sit, we are encouraged by the growing recognition and application of these tenets across the social sector, and around the world, and believe it bodes well for the future of innovation.

 

*Disclosure: Jean and Steve Case are investors in BRCK.

Celebrating Black History Month by Celebrating the Power (and Privilege) of Storytelling

Posted on by Case Foundation

He (and I use that pronoun intentionally) who tells the story owns the narrative. And the fact is, history has largely been written by men, for men. White men. It’s a truth we, at the Case Foundation, confronted directly and are trying to change through our #FacesofFounders campaign, as it pertains to entrepreneurs. The power of storytelling to document history, make lasting impressions and, in fact, set our default images is profound. And therefore, we need to disrupt the status quo of who tells the stories, about whom the stories are told, the images we assign to entire categories of people and, in doing so, directly confront our biases and work hard—with intention—to change them.

As we researched and designed our inclusive entrepreneurship movement, seeking to democratize entrepreneurship to people and places being left behind or out of business startup opportunities in America, we landed on three important roadblocks: access to social capital (mentorships, networks, accelerators); access to financial capital; and access to something we called “inspirational capital”—their inclusion in media stories, popular images of entrepreneurs or stories of entrepreneurship. Our #FacesofFounders campaign was a direct response to aggressively bust the myth that there weren’t already successful entrepreneurs of color and women entrepreneurs, as well as to inspire the next generation of talent required to drive America forward.

Key to driving that campaign forward was to confront the biases that exist in America, to understand that storytelling and images have played a huge role in reinforcing those biases and to use the power of storytelling, and a set of modernized images, to change that dynamic. We put that power to work in our CEO Jean Case’s TED talk last fall.

As we close out February and our celebration of Black History Month, and in celebration of what I hope is a revolution to level the playing field for all individuals—regardless of their race, gender, sexual orientation or birthplace—to participate equally in our society and economy, I’d like to share three other TED Talks that continue to inspire me to #GetinTheArena and both deploy the power of storytelling and extend the privilege of the storyteller.

The Danger of a Single Story

This stunning talk by Chimamanda Ngozi Adichie walks us through a long history of literature, news stories and images that have built a singular story around events and people, particularly people of color. She reminds us that the problem is that, beginning as children, these are the stories and images that set our default positions. Worse, they rob people of dignity, reduce opportunities for equality and accentuate our differences more than our similarities. Her parting words? Stories matter; let’s use them to empower, humanize and repair broken dignity.

How to Overcome Our Biases

Vernā  Myers delivers a hard-hitting punch: get out of denial, “color blindness” is a false ideal…a distraction from doing the real work required to reboot our biases. She walks us through the world of brain auto-association with research showing that people—all people—associated white images more often with positive and black images more often with negative. Seventy percent of white people preferred images of white people; 50 percent of black people did too. Whoa! Beyond just the sheer power of her talk, she deploys a tactic that is intentionally intended to change that auto-association—throughout her entire talk, images of beautiful, bold, everyday black men are displayed behind her. Myers challenges us to do three things: (1) accept that bias exists—it’s not that it exists, it’s what we do with it; (2) move toward young black men, not away from them; move toward your discomfort and expand your bubble—just try!; and (3) when you see something, say something—good people can say wrong things, and if not confronted, biases will continue and be passed onto future generations. A must-watch!

Color Blind or Color Brave

Mellody Hobson tells us in this captivating talk that embracing and deploying diversity—of race, gender, intellect, experience—is the smart thing to do, not just the right thing to do. Like Myers, Hobson encourages us to deal with color head on…to deal with its discomfort and relax into it…to be “color brave” if we believe in equal opportunity. Her three calls to action are things most of us can do today: (1) be intentional in hiring decisions—every opportunity you get; (2) observe your environment with intention, and invite people into your life that don’t look like you, live like you, think like you—they will challenge your assumptions and beliefs; and (3) be brave.

…

Let’s not forget that Black History Month itself was created to rewrite a history that seemed to exclude black people’s role in advancing American innovation, entrepreneurship, society and economy. Each of us, in our own way—big or small—can be part of a movement to drive a more inclusive nation. Be fearless. It’s worth it.

Announcing the Five #FacesofFounders Featured Stories

Posted on by Case Foundation

The Case Foundation is proud to announce the results of our first-ever #FacesofFounders campaign. The effort, a centerpiece of the Foundation’s inclusive entrepreneur movement, invited 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 seeks out and lifts 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 forty guest judges, were selected because they are bridging innovation and commitment to inclusiveness.  

Meet the winners!

  • Stephanie Lampkin, founder and CEO of the Blendoor application, has leveraged her tech expertise to tackle hiring bias.
  • Jean Sim and Irena Todd are working moms and immigrants who have built Fresh Monster to address a gap in affordable children’s haircare products.
  • Anjali Kataria co-founded Mytonomy, a health tech company that educates and informs patients through technology, ensuring they arrive at appointments prepared and fully educated on their medical needs.
  • George Ashton and Yuri Horwitz seized upon an opportunity in the rapidly changing solar energy market to build Sol Systems, a mission-driven company working towards cleaner energy through investments.
  • Kristen Sonday, along with co-founder Felicity Conrad, launched Paladin to create a legal pro-bono matchmaking service to ensure that attorneys are matched with the right organizations in need of legal assistance.

Each of the winners will be featured this week on FastCompany.com. Today, the story of how Jean Sim and Irena Todd built Fresh Monster was released, but check back each day to read the next story of barrier-breaking innovators from around the country.

We celebrate the five winners in their own right, but also for the light they shine on the tremendous talent and excitement that the #FacesofFounders campaign surfaced. Nearly 4,000 people uploaded a photo and selected a filter showing what entrepreneurship means to them. Nearly 750 founders took the time to thoughtfully and passionately tell us the story of their entrepreneurship journey—with entries from 42 states, 63 percent of whom were women entrepreneurs and 63 percent of whom were entrepreneurs of color. And these stories came from entrepreneurs building businesses across a multitude of sectors—from retail, technology, arts, health and finance industries, among others.

Thank you to everyone who has joined the movement for a more inclusive approach to entrepreneurship! Founders like Kristen, Felicity, George, Yuri, Anjali, Jean, Irena and Stephanie are proof points that innovative, successful businesses are built across the nation, by entrepreneurs from all backgrounds. Together, we are changing the narrative of who is and can be an entrepreneur.

Making The Most of Your Time At SXSW: 20 Can’t Miss SXSW Sessions

Posted on by Case Foundation

The Case Foundation is heading to SXSW this month for five days of Interactive programming and events. While there, we will certainly dine on breakfast tacos and good ole’ Texas barbecue, but most importantly we will participate in and host a series of engaging can’t miss SXSW sessions and activations onsite designed to turn interest in to action.

In particular, the Case Foundation is excited to interact with SXSW participants at one of our sessions featuring our own Jean Case, Steve Case, Emily Yu, Sarah Koch as well as to debut our first-ever #GetInTheArena Lounge, in partnership with Oculus (at the JW Marriott from March 11th to March 15th). There, we invite you to “Get In The Arena” and share how you will turn intention into action on the causes you care about, learn about the future of social good and hear more about the important work the Foundation is leading throughout the year. A few highlights:

  • Record a short film in our 360-degree video OrcaVue that will capture your very own “Get in the Arena” video moment;
  • Check out the virtual reality videos courtesy of Oculus for Good;
  • Donate to a charity of your choice with GoodWorld as they bring the #donate phenomenon to attendees live on site;
  • Demo our soon-to-be-released Impact Investing Network Map;
  • Test your knowledge of the inclusive entrepreneurship ecosystem;
  • Share what you are going to do to “Get in the Arena” in 2017.

Veterans of SXSW will tell you there are countless sessions and meet-ups on just about every issue you care about—from ocean exploration, to inclusive entrepreneurship, to tech for good platforms that are changing the way we champion causes. To make the best use of your time at SXSW, here are 20 sessions that we think you shouldn’t miss:

MARCH 10th


1. The Rise of Academic Incubators 11:00am – 12:00pm
Hotel Van Zand, Lady Bird Ballroom

Join Texas A&M, Harvard University and more as they share how universities are responding with pathways, such as curriculum enhancements, mentorship programs, and physical incubator space, to facilitate connections to students, potential investors and industry leaders

2. Funding Our Future: Investing in Diverse Startups 12:30pm – 1:30pm
Hilton Room 400-402

Valmo Ventures, Base Ventures and Connectivity Capital Partners share why the growing trend of more tech startups being founded by Women, Latino, Black and Asian founders, greater investment in these ventures is needed to ensure the innovation and economic growth across all communities that these founders represent as the global population becomes more diverse.

3. Convergence Keynote Photographer Cory Richards 2:00 p.m. – 3:00 pm
Convention Center Ballroom D

A climber and visual storyteller, Richards was named National Geographic Adventurer of the Year (2012) and a National Geographic Fellow (2015). His photography has appeared in National Geographic Magazine, Outside Magazine, Man of the World, and The New York Times.

MARCH 11th


4. Navigating a Rapidly Changing and Connected World Steve Case and Beth Comstock 9:30am – 10:30am
Convention Center Ballroom EFG

Sensors that track a food’s temperature from source to store. Hospitals designed to avoid misdiagnosis. Traffic lights that actually respond to traffic. These are the changes we are likely to witness in the Third Wave: a period in which entrepreneurs will use technology to revolutionize major sectors—healthcare, manufacturing, education and food—and transform the way we live. Steve Case, co-founder of AOL and CEO of Revolution and Chairman of the Case Foundation, and Beth Comstock, Vice Chairman at GE, discuss how to adapt to the changes coming our way.

5. Changing the Face of Entrepreneurship with Jean Case 11:00am – 12:00pm
Hilton Salon C

Talent is everywhere, opportunity is not. Tech pioneer and investor Jean Case explores the journey of fearless entrepreneurs who are changing the way business is done. She sits down with Reena Ninan of CBS News to discover the wide range of dynamic pioneering founders who are closing the opportunity gap and scaling creative solutions to persistent global problems. Challenge the traditional notions that entrepreneurs are exclusively wealthy, Ivy League educated white men in this conversation on how a new breed of entrepreneurs from all walks of life are fueling economic growth and shattering the status quo.

6. How Elections Change Next Gen Cause Engagement 3:30pm – 4:30pm
Hilton Salon F

Fact: Millennials value cause engagement. But what happens during an election year? Could politics influence how this generation participates in social causes? Achieve, in partnership with the Case Foundation, conducted a multi-stage research study on the millennial generation’s cause engagement as related to their political ideologies. The study measured how the 2016 U.S. presidential election affected how Millennials across the country engaged with social causes. The final 2016 Millennial Impact Report identified what, if any, demographic factors are connected to engagement trends. The final report will be debuted exclusively at SXSW and reveal key shifts that will alter how we think about this generation of changemakers. Speakers include Emily Yu of the Case Foundation, Abby Philip of the Washington Post, Carolyn DeWitt of Rock the Vote and Amy Thayer of Achieve.

7. Payments Gone Viral: The Rise of Social Commerce 3:30pm – 4:30pm
JW Marriot Salon D

Augmented reality. Hashtag payments. Messenger bots. The payments space is fundamentally changing: cash and checks gave way to credit and debit cards, which are now being replaced by apps. In an era where social proof reigns supreme, how is social media shaping the future of commerce. Meet a diverse cross-section of companies pioneering social payments: the ability to buy, pay and give on social media. Moderated by finance veteran Hans Morris (Visa, Citigroup, Nyca Partners), this session shows how the latest technologies enable people to pay where they play. Speakers include Dale Nirvani Pfeifer of GoodWorld, Kahina Van Dyke of Faecbook, Hans Morris of Nyca Partners and Ambarish Mitra of Blippar.

8. Harlem: The New Tech Frontier 5:00pm – 6:00pm
Hilton Salon E

Join Jessica O. Matthews of Uncharted Play as she explores how the startup is democratizing energy access worldwide, and changing the face of innovation. With its core technology MORE, (Motion-Based, Off-Grid, Renewable Energy) – a scalable system of micro-generators that can sustainably power cities – the company is eyeing infrastructure opportunities in emerging markets.

MARCH 12th 


9. Keynote with Lee Daniels 11:00 am – 12:00 pm
Convention Center room 18ABCD

Lee Daniels is a widely recognized director, writer, producer, and philanthropist in both the film and television space. He is perhaps best known for the 2013 critically acclaimed box office smash Lee Daniels’ The Butler, in addition to his 2009 feature Precious: Based on the Novel by Sapphire, which was nominated for six Academy Awards including “Best Motion Picture of the Year” and “Best Achievement in Directing.” The film also made history as Daniels became the first African-American to be nominated for the DGA’s Outstanding Directorial Achievement in Feature Film Award.

10. Humanitarian Design In Action 11:00am – 2:00pm
Hilton Salon D

In recent years, universities across the country have been increasingly engaging with the entrepreneurial ecosystem, developing programming internally to cultivate entrepreneurial activities and working to bring entrepreneurs into the university. Join MIT, Rice Univesity, StartX and the University of Chicago as they explore what bridges are currently being built to facilitate flows of information and people between universities and the entrepreneurial ecosystem.

11. Tech for Good: Solutions for the Refugee Crisis 12:30pm – 1:30pm
Westin Continental 2

When lives are at stake, it can be difficult to figure out how we can make a real difference. The Humanitarian Design Summit with Google, Facebook and Crack + Cider is about meeting the people who are using everyday design practices to prevent suffering and save lives. This workshop will task participants with rapidly designing responses to a real world crisis scenario. The goal isn’t to solve a difficult humanitarian problem, instead it’s an opportunity to test out the principles of Humanitarian Design in a risk-free environment with world-class designers.

* This session requires RSVP, and access will only be available to badge types listed under “Primary Access.” RSVP HERE.

MARCH 13th


12. How Tech Companies Can Give Back to Communities 12:30pm – 1:30pm
JW Marriot Salon D

Join Andrew Keen, Elaine Weidman-Grunewalk from Ericsson, Gary Shapiro of Consumer Technology Association and John Donovan from AT&T as they explore game-changing technologies and disruptive innovations and the sharing economy bring the power to improve our lives and what are the best practices that allow “Technology for Good” to authentically come into play with both the bottom line and corporate responsibility and community engagement.

13. Turning Inspiration Into Action on Instagram 12:30pm – 1:30pm
Hyatt Regency Ballroom 1

With over 600 million users, Instagram is the 2nd largest platform behind Facebook. From curated content to real life moments, Instagram is a place for inspiration and discovery. But how can marketers move inspiration and discovery to action? In this session, Instagram’s Michael Hondorp, the retail lead for the brand, will discuss the most innovative ways brands are driving impact with Instagram. From using ad formats in unexpected ways, to developing ideas customized for the feed, attendees will leave inspired to think differently about creating for the platform.

14. Interactive Keynote: Adam Grant 2:00pm – 3:00pm
Convention Center Ballroom D

Wharton’s top-rated professor, a New York Times writer on work and psychology, and author of Originals: How Non-Conformists Rule the World and Give and Take: Why Helping Others Drives Our Success. Grant has been recognized as one of the world’s 25 most influential management thinkers, and Fortune’s 40 under 40.

15. Kimbal Musk on Trust: The Currency of Our Generation 3:30pm – 4:30pm
Convention Center Ballroom EFG

Musk sits down with Fast Company magazine’s Amy Farley exploring the ability of consumers to uncover truth and authenticity in seconds with the help of the Internet is creating incredible opportunities in the food industry. As cofounder of The Kitchen, a family of businesses working in tandem to bring #realfood to everyone, he will discuss how farmers, consumers, and companies are demanding and delivering trust back to the table.

MARCH 14th


16. Investing to Change The World 9:30am – 10:30am
Convention Center Ballroom EFG

This panel will offer practical and powerful solutions for people who want to generate positive impact on society through their investments. Join Ben Jealous and Karina Funk of Kapor Capital, with Dune Thorne from the Brown Advisory and Victoria Fram of Village Capital as they explore the forefront of impact investing and will explore opportunities that range from green bonds to public equities to private equity investments. You can generate profits AND progress by investing in companies with cutting-edge environmental strategies, in bonds that fund clean energy or support low-income communities, and in innovative private investments that seek to drive social change.

17. National Geographic Explorers Changing the World 11:00am – 12:00pm
JW Marriott Room 203-204

National Geographic pushes the boundaries of exploration to further our understanding of the planet and empower us all to generate solutions for a healthier and more sustainable future. Meet the Emerging Explorers—fearless young scientists, conservationists, storytellers, and innovators who are harnessing technology to expand the frontiers of exploration. Join a discussion about taking risks, being bold and failing forward to change the world through technology for good with National Geographic Explorers Topher White and Erika Bergman and CEO Gary Knell.

18. How to Fundraise Without Silicon Valley 3:30pm – 4:30pm
Hilton Salon C

We are witnessing a new wave of investment and entrepreneurship in the United States. How can we level the playing field for women-entrepreneurs and entrepreneurs of color to fund, grow and scale their thriving businesses? Learn both investor and entrepreneur perspectives on what it takes to build and back inspiring companies and bring the deal process to life for diverse founders. Join Earl Robinson of Consequent Capital, Sarah Koch of the Case Foundation, Nicole Sanchez of eCreditHero and Carolyn Rodz of Circular Board for this engaging discussion.

MARCH 15th


19. Nonprofits Get the Keys to the VR Kingdom 12:30pm – 1:30pm
JW Marriot Salon 3-4

Virtual Reality has been touted as the ultimate empathy engine, immersing viewers in experiences that can open their eyes and create personalized memories for important causes. To widen the reach of this unique immersive technology to deserving nonprofits, Oculus has created the “VR for Good” workshop that pairs budding filmmakers with veteran VR talent to craft powerful storytelling pieces for a variety of featured charities and causes. Participants in the inaugural launch of this program will discuss their process in collaborating with these nonprofits and how the program combats the pitfalls that worthy causes often face with innovative marketing approaches.

20. How Brands Do Well By Doing Good 3:30pm – 4:30pm
JW Marriot Salon D

Cynics believe a marketer’s biggest goal is to get a consumer to click on an ad and purchase a product. This is especially true when it comes to digital advertising, which is immediately measurable, both in its success and failure. That’s what we call short-term thinking. The best brands think about themselves—and their stories—in the long term. They consider how to connect with consumers in a way that feels authentic, and that communicates something about what the brand stands for, something that goes far beyond whichever product they’re currently peddling. Upworthy presents the brands that do well by doing good.

Have a session or event that the team shouldn’t miss? Tweet us @CaseFoundation. We look forward to seeing you there!

Behind the Scenes with the Judges of #FacesofFounders

Posted on by Case Foundation

As part of the Case Foundation’s work in catalyzing the inclusive entrepreneurship movement, we launched the #FacesofFounders campaign last fall to change the narrative of who is and can be an entrepreneur. In October and November, over 3,000 people created a custom photo with a caption of what entrepreneurship means to them and nearly 750 founders submitted their entrepreneurship story. From our launch at the White House’s South By South Lawn festival, to Jean Case’s talk about unlocking the American Dream for all at TEDxMidAtlantic, #FacesofFounders has inspired and energized us all to join the movement for inclusive entrepreneurship. After some challenging choices and deep analysis by our guest judges, we’re excited to announce that the five winning stories will be featured on Fast Company starting February 27th!

In preparation for this reveal, we asked a few of our guest judges to share some behind the scenes insights and words of wisdom about the opportunities and challenges of being an entrepreneur. Thank you to all of our judges—we could not get to this point alone! We were joined by forty guest judges who are experts in entrepreneurship ecosystem building, investors or entrepreneurs themselves. Here is what they have to share with us as we all find new ways to #GetInTheArena and fight for meaningful inclusion in entrepreneurship.

What is a piece of advice you wish you had known when starting out in the entrepreneurship field?

Take action when you’re 80% ready. There are lots of people with great ideas, but the real traction is gained by those who take continuous action on those ideas.
– Carolyn Rodz, Circular Board

Surround yourself with a community of supporters. Ideas are born out of dreams for something new, different, and impactful. It takes a lot of time, nourishment, and most importantly a community of supporters to enable an idea to truly flourish into a venture. Every entrepreneurial success has taken hundreds of small and big connections to bring it to life.
– C’pher Gresham, SEED SPOT

Entrepreneurs are explorers. Your adventure will have extreme highs and lows, but the journey will be worth the destination.
– Elizabeth Gore, Dell

As an intrapreneur, I wish I knew that you don’t have to be perfect to launch a new project or endeavor. It’s so easy to get caught up in making something absolutely excellent, but the important lesson is don’t wait to launch. When we interviewed Eric Reiss of the Lean StartUp, I started to realize the importance of letting go of being a perfectionist and launching. Some of my favorite accomplishments have come from a Lean StartUp approach.
– Gabrielle McGee, Tory Burch Foundation

I wish I had known that making an impact or doing meaningful work is not enough to build a sustainable, impactful venture. For social entrepreneurs, we must do the work that changes lives but we also have to constantly build and cultivate relationships with supporters and stakeholders as well as be compelling advocates for our cause. Making a measurable impact on someone’s life is the hardest and most meaningful part of social entrepreneurship, but it takes even more than that (like fundraising skills, management know-how, etc.) to be a successful social entrepreneur.
– Darius Graham, Social Innovation Lab at Johns Hopkins University

Plenty of smart, dedicated, and passionate entrepreneurs with promising viable business ideas have lost out on opportunities or money due to horrible pitches. Here’s how not to be one of them—don’t try to tell your life story. These are the pitch perfect things to you want to convey: how the product, service, or technology you are offering solves a problem or pain that you are familiar with; how much of your own time and money are you willing to risk; who is your competitor because every business has one; how are you going to acquire new customers and keep any existing customers happy; and what is your business model and how it will make you money.
– Carolyn Brown, Black Enterprise

In every meeting, focus on the value you are providing—not the value of your company, but the value to the other person! If you’re fundraising, you should understand the problem the investor is trying to solve, and focus your conversation on how you help them solve the problem (not why you’re great!). If you’re talking to a customer, understand what their pain point is and focus on how you help them solve it (not why you’re great!). When talking about value, it’s better to be specific and wrong than vague and right, so try and be as specific as possible: not just “better” but “3x faster”; not just “cheaper” but “half the price”.
– Ross Baird, Village Capital

Hire slow and fire fast. When you’re starting up you might have a tendency to try to hire people quickly because it feels like momentum. The problem with that is that you may be compromising culture fit and you’re signing up for more as you’ve added payroll which means you now have to do more to sustain the team.  Additionally, in a startup every moment matters so if you find yourself with a hire that is not working out, make a change as soon as possible. Most likely the hire in question knows that they’re not the right fit – so it shouldn’t be a surprise.
– Frank Gruber, Tech.co

Remember, everything you see is just a thought manifested. Your job is hustle, manifest and hustle some more! – Talib Graves-Manns, Black Wall Street Homecoming

What do you think distinguishes a promising entrepreneur?

I always keep an eye out for founders who are personally committed to their mission, and who have engaged others in making it come to life. When it becomes more than a solo mission, entrepreneurs hit a point where failure is no longer an option, and that’s where the real magic happens.
– Carolyn Rodz, Circular Board

I look for evidence that the applicant has a deep, intimate understanding of the issue being addressed and the population being served. This can be shown in different ways such as through work experience, academic study, or – most often – life experience. In my years of work supporting social entrepreneurs, one of the key things that sets apart the highly-impactful entrepreneurs from the less-impactful ones is an extensive understanding of the issue being addressed and the population being served.
– Darius Graham, Social Innovation Lab at Johns Hopkins University

Relationships matter, which means people matter. Successful entrepreneurs understand this and have fostered important relationships to propel themselves to success. As much as it might sometimes seem, nothing is an overnight instance success.
– Frank Gruber, Tech.co

What surprised you about the #FacesofFounders applications?

What surprised me the most about #FaceofFounders applicants was how diverse the businesses were. Innovation is alive and thriving! It’s exciting to learn about businesses that are disrupting, creating new ways, new products and many of them are making a difference in the world and their local communities.
– Gabrielle McGee, Tory Burch Foundation

The sheer size of the positive energy around problem solving for experiences each founder had all over the country! My hope is #FacesofFounders has helped diverse entrepreneurs feel a community around them and that it doesn’t matter the color of your skin, where you grew up, or your political beliefs, but that ANYONE can start a venture with enough passion, true grit, and belief in creating a better future.
– C’pher Gresham, SEED SPOT

Thanks again to all of our guest judges and partners Blackstone Charitable Foundation, Google for Entrepreneurs and UBS who made this campaign possible. Because of these partners and the thousands that have committed to join the movement for a more inclusive approach to entrepreneurship, we are opening doors to innovators everywhere to start and scale their businesses. Come back on Monday to read the featured stories of fearless, problem solving founders on Fast Company!

Biggest Trend in Social Good? Women in the Driver’s Seat!

Posted on by Case Foundation

I was recently asked to open up a dinner conversation with a room full of social innovators—a mix of foundations, entrepreneurs, impact investors and companies—by laying out what I saw as the top three trends in social good. These trends are important in that they inform our arenas for action and the clarion call we, at the Case Foundation, are making to all citizens to “Get in the Arena.” That night, I picked three distinct trends because I felt it opened up more conversation. In hindsight, I wish I’d gone with my original three: women, women and women. 

Trend 1: Women as Investors

You may recall an earlier blog I wrote about Trailblazing Women in Impact Investing where I talked about women emerging as a driving force behind the growth of the Impact Investing industry. From founding firms focused on impact investors, to creating tools and products to catalyze capital, to leading nonprofits and foundations focused on educating and activating a host of actors, women are spearheading and populating this sector more so than any other financial services sector.

A recent Calvert Investments report asserts that women, along with younger investors, will indeed drive the growth of the broader responsible investment industry. In a study of affluent women, 95 percent ranked “helping others” and 90 percent ranked “environmental responsibility” as important. And beyond driving the growth of Impact Investing, woman may be our greatest hope to unlocking the kinds of game-changing innovations required to solve the most persistent problems. Turns out that women wealth holders exhibit more risk tolerance toward new and innovative solutions, once they have met the financial security needs of themselves and their families. As Sallie Krawcheck wrote in her thought-provoking piece, women investors exhibit a slightly different values-based perspective. More women want their investments to not just generate excellent returns, but also have a positive impact on the world they live in. And they’re willing to make some big bets to deliver on that perspective.

This data reinforces the importance of ensuring that women continue to be aware of the momentum in the Impact Investing space. Remember, their purchasing power and, therefore, their potential social impact power is enormous—women control 39 percent of investible assets in the U.S. today. That number will continue to rise; women currently control 51 percent, or $14 trillion, of personal wealth in the U.S. and are expected to control $22 trillion by 2020.

Trend 2: Women as Consumers

Women represent the largest market opportunity in the world. Globally, they control $20 trillion in annual consumer spending. In the next five years, it is expected that this number will rise to nearly $30 trillion. For context, that is more than the two largest growth markets typically identified—China and India—combined! In the U.S., women control somewhere between $5-15 trillion, with estimates that they will control two-thirds of the consumer wealth in the U.S. over the next 10 years.

Women handle the bulk of purchasing decisions for everyday items like groceries and clothing and are also heading up and/or highly influential in large ticket purchases like cars, homes and appliances. Here’s another kicker—they even purchase 50 percent of the products marketed to men!

Why is this a trend worth watching in social good? Because women often make purchasing decisions based on their personal and social values. The HBR piece on the “Female Economy” is a must-read on the role women will play as consumers, members of the workforce, productivity drivers and caregivers. On the women as consumers front, my favorite quote:

“Once companies wake up to the potential of the female economy, they will find a whole new range of commercial opportunities in women’s social concerns. Women seek to buy products and services from companies that do good for the world, especially for other women. Brands that—directly or indirectly—promote physical and emotional well-being, protect and preserve the environment, provide education and care for the needy, and encourage love and connection will benefit. And women are the customer. There’s no reason they should settle for products that ignore or fail to fully meet their needs, or that do so cynically or superficially. Women will increasingly resist being stereotyped, segmented only by age or income, lumped together into an “all women” characterization, or, worse, undifferentiated from men.”

Given the forthcoming wealth transfer predicted, many of these upwardly mobile consumers and asset owners are Millennial women. Millennial customers, employees and importantly—entrepreneurs—lead their lives and make choices with a more holistic worldview. They contribute to and support the things they believe in and they use their dollars to exercise those views and beliefs.

Trend 3: Women as Entrepreneurs

And perhaps the greatest trend of all to watch in terms of opportunity to drive social good is the rise of women in entrepreneurship.

American Express OPEN’s 2016 State of Women-Owned Business report is a must-read. The number of women owned firms and their economic contributions continue to rise at rates higher than the national average. As of 2016, this data shows 11.3 million women-owned businesses in the U.S., employing nearly 9 million people and generating over $1.6 trillion in revenues.

The report show that between 2007 and 2016:

  • The number of women-owned firms increased by 45 percent, compared to just a 9 percent increase among all businesses. That’s five times faster than the national average.
  • Their employment growth increased by 18 percent, compared to a 1 percent decline among all businesses.
  • Their business revenues increased by 35 percent, compared to 27 percent among all U.S. firms. That’s 30 percent higher than the national average.

And check out the growth of firms owned by women of color! Their numbers have more than doubled since 2007, increasing by 126 percent.

Now, let’s turn our attention to venture-backed companies in particular, given their potential for high growth. Less than 10 percent of venture-backed companies have female founders, despite the evidence that gender-diverse companies drive greater market returns and innovation; that VC portfolios show women-founded companies outperform those founded by men; and that funds declaring gender diversity an “investing factor” give higher returns with women at the leadership level.

I think we are going to see these dreadful statistics change over the next couple of years. Increased attention being paid to these numbers, including by our own #FacesofFounders campaign and others (UBS, Blackstone Foundation, Google for Entrepreneurs, Kapor Center, 500 Startups, JumpStart, to name just a few) will help. Why is this a social trend worth accelerating? To put this into perspective, according the Economist, if women entrepreneurs in the U.S. started with the same capital as men, they would add 6 million jobs to the economy in five years—2 million of those in the first year alone.

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As we ring in 2017, with all of its uncertainties, I for one commit to getting in the arena of investing in women with intention. For one thing appears pretty certain—our economy, as well as our social fabric, depends on them.

Jean Case at TEDxMidAtlantic: Unlocking the American Dream

Posted on by Case Foundation

Case Foundation CEO Jean Case took the stage at TEDxMidAtlantic: New Rules—a gathering of 45 prestigious leaders who came together to discuss and think about what kind of society and future we want to build, and how we get there. Jean’s talk noted the importance innovators have played in the history of the United States, examined the state of entrepreneurship today and promoted a series of changes we could make to open the doors of entrepreneurship to everyone.

Jean shared the true but often surprising statistics that show that women and entrepreneurs of color are too-often being left on the sidelines, but contrasted them with her vision of a world where all innovators and change makers were on a level playing field. While she recognized that there are still many challenges facing women and entrepreneurs of color involving unconscious bias, she called on investors to take a hard look at their portfolios and the opportunities they were missing by not tapping into the rich talent of diverse entrepreneurs. Standing on the iconic red TED carpet, Jean set forward a clarion call for all to join in on building an inclusive entrepreneurial ecosystem that would give everyone an equal chance at unlocking the American Dream.

Watch Jean’s TEDx talk below to learn more about the realities for women and entrepreneurs of color today, and how we can help change the face of who is and can be an entrepreneur.

 

Our Most Popular Blogs of 2016

Posted on by Case Foundation

As we kick off the new year, we are taking a look back at our most popular blogs from 2016 to revisit key moments that inspired us here at the Case Foundation. We’ve collected the 10 most popular pieces—as determined by our community of readers. These blogs represent our areas of work in catalyzing movements and inspiring ideas that can change the world. We hope thes will remind us all to be bold, take risks and fail forward together around the issues you care most about in the coming year!

  1. Our Fearless Journey From Mission to Movements, by Jean Case

2016 was a year of transition for many, and the Case Foundation was no different. In August, our CEO Jean Case wrote about the journey we have taken from mission to movements, and how—as we have taken a journey of self-exploration and come to better understand our work & DNA—the Case Foundation has reframed our work. We’ve always been in the business of transformative change, but have come to realize that our real “special sauce” is that we use a Be Fearless approach to catalyze movements around social innovation and tip the scales form intention to action.

  1. Words Matter: How Should We Talk About Impact Investing?, by Jean Case

In March, our CEO Jean Case joined partners from Omidyar Network, Ford Foundation and MacArthur Foundation, together with the Global Impact Investing Network and the Global Social Impact Investing Steering Group, to unveil research that tracked and analyzed coverage of the topic of impact investing in traditional and social media and shared insight into how the way we talk about impact investing can play a powerful role in informing, educating and activating people around the movement.

  1. Trailblazing Women in Impact Investing, by Sheila Herrling

2016 was a year of momentum for Impact Investing. From the Treasury Department and IRS’s release of new PRI regulations, to high profile new social impact funds like TPG’s $2 billion Rise fund, it’s evident that the movement is picking up steam. And another noticeable trend has stood out: women are emerging as a driving force behind its growth. In August, our SVP of Social Innovation, Sheila Herrling, wrote what would go on to become our second most popular blog post of the year, highlighting these trailblazing women in Impact Investing. We can’t wait to see the momentum continue in 2017.

  1. The 2016 Millennial Impact Report – Phase 1, by Emily Yu

One of the hottest topics of 2016 was the election, so it is not surprising that on of our top blog posts of the year was about our Millennial Impact Report, which looked at how Millennials were engaging with the election and how the election effected their cause engagement. Among our top blogs was also “Millennials Cast Their Vote For Cause Engagement,” another post on the Millennial Impact Report, this time about Phase 2.

  1. 2016 Conferences On Our Radar, by Jade Floyd

2016 was an action packed year for the Case Foundation, and much of the great momentum we saw this year was fueled by wonderful in-person interactions at conferences and convenings. From SXSW, to SOCAP, to crisscrossing the country for #FacesofFounders activations at the White House, the New York Stock Exchange, Forbes 30 Under 30 Summit, Google’s headquarters and more, we loved getting the chance to reach beyond our bubbles and meet so many changemakers face-to-face. Keep an eye out for our upcoming list of 2017 Conferences On Our Radar.

  1. Twitter Lists:

We’ve loved the conversations we have and information we learn from the engaged social impact communities on Twitter. In 2015 we started a series of Twitter lists to help people join in these conversations and better know who to follow to find out more about topics we care deeply about. Several of these lists made it into our top blog posts of 2016:

  1. The Myth of the E-Word, by Sheila Herrling

Our Myth of the Entrepreneur series was started in the fall of 2015 to take a critical look at the common stories and myths told in startup culture, and as it continued into 2016, it was clear that the myths were striking a chord with our readers. The Myth of the “E Word” post contemplated the term “entrepreneur” itself as a possible barrier to expanding and diversifying entrepreneurship. “The Myth of STEM; The Only Way,” and “The Myth of the Coasts” also found their way into our top blog posts this year. We look forward to busting more myths in 2017 that are holding us back and breaking down barriers to entrepreneurship faced by women and entrepreneurs of color.

  1. One Fearless Question that Paved the Way for Women in Government, by Jean Case

On International Women’s Day, our CEO Jean Case shared a story about the fearless trailblazers Vera Glaser and Barbara Hackman Franklin. Vera Glaser’s #BeFearless question to President Richard Nixon questioning why more women were not a part of his cabinet set off an effort, headed by Barbara Hackman Franklin, that changed women’s access to high-level appointments in federal government. Our readers also enjoyed other Be Fearless examples that made it into our top blog post lists, such as our spotlight on the Robert Wood Johnson Foundation and Jean’s blog post “Confronting Risk in Today’s Nonprofits.” You can learn more about how to Be Fearless in your pursuit of social good on our Be Fearless Hub.

  1. What’s Trending—Using Your Business as a Force For Good, by Sheila Herrling and Hardik Savalia

We are proud to partner with B Lab and their ground breaking work to help businesses identify and measure their social impact, and through the popularity of this blog post, it is clear that our readers are also excited about the potential of the B Impact Assessment. We’re excited that the Assessment can help all businesses, not just certified B Corps, to join the movement to redefine success for business, and measure their ability to build stronger communities, create environmentally sustainable operations or cultivate empowering employment opportunities.

  1. Innovation Madness: Elite Eight, by Jessica Zetzman

In conjunction with the NCAA Tournament, the Case Foundation decided to put our own twist on March Madness and introduced Innovation Madness, a celebration of Women’s History Month and the women who have been influential innovators in exploration, business and the STEM fields—yet are not recognized as often as their male counterparts. Our whole staff got in on the fun, chosing their favorite innovators, and we loved that hundreds of people voted and participated in Innovation Madness on social media. Check out the original bracket, the Elite Eight, the Final Four and the Champion.

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We are thrilled that these blog posts resonated with our readers in 2016, and look forward to continuing great conversations on and offline in 2017. Tell us what you want to read more about by using #CaseBlogs on Twitter.

Be Fearless Spotlight: Jay Newton-Small and the Story of Her Father

Posted on by Case Foundation

This Spotlight is a part of a special blog series curated by the Case Foundation featuring Be Fearless stories from the field. Follow along with us as we meet people and learn about organizations that are taking risks, being bold and failing forward in their efforts to create transformative change in the social sector. This Spotlight is authored by Jay Newton-Small (@JNSmall), Cofounder of MemoryWell, TIME magazine contributor and author of Broad Influence.

A few years ago, I put my father into a home for those living with Alzheimer’s and dementia. It was the hardest decision of my life, but he was a wanderer and I couldn’t care for him on my own following the death of my mother. I didn’t know it at the time, but that decision would be the start of a long journey that would change both of our lives.

The home asked me to fill out a 20-page questionnaire about his life. This made no sense to me: who would remember 20 pages of hand-written data points for the 150+ residents there? Instead, I offered to write down his story. I’m a journalist after all, story telling comes naturally to me. They loved the story I wrote, it transformed his care; MemoryWell was born.

Over the next 2.5 years, I worked with a partner, Ilan Brat formerly of the Wall Street Journal, to write more life stories of people like my dad. We knew that this tool could help change the lives of the more than 44 million around the world currently living with Alzheimer’s or a related dementia and the many who care for them. And so, we developed a website called MemoryWell to host the stories and allow family members to add their loved ones’ favorite photos, videos and music—so that when caregivers or family members sit with them they have a whole toolbox of things with which to engage them.

My firsthand experience with my father and Alzheimer’s helped me to identify a critical solution and develop MemoryWell in response. The leap from daughter to entrepreneur was a big one, but a necessary one as I realized what this tool could do for families like mine.

We got our first clients earlier this year and, less than two months later, I let urgency conquer fear and left TIME Magazine to work on MemoryWell full time. Our CTO Andrew Fribush joined our team this fall and we got accepted into Halcyon incubator in Washington, DC, in November.

While all this sounds easy: let me assure you it was not! We are journalists, not entrepreneurs. In our newsrooms, taking a stand is always discouraged: we are impartial observers of the events around us. Most journalists are given assignments instead of making them. We are naturally skeptical of salesmanship and marketing/PR puffery; we work well with structure and want steady jobs (although the upheaval in the industry is changing that). But, in short, journalism isn’t an industry predisposed to innovation and that’s why you see so few journalism startups. But as I saw the impact that storytelling could have in the lives of Alzheimer’s and dementia patients, I knew that I had to take a risk in the face of these obstacles.

Certainly, our road hasn’t always been smooth and surely there will be many more bumps ahead. However, we have learned from every experience and failed forward to get to where we are today. We lost our first pitch contest to NewU, a group that gives grants to minority journalists, in September 2014, and then we lost three more Aging 2.0 pitch contests after than until Ilan finally won the Chicago Aging 2.0 contest in 2016—and still we didn’t make it to the national convention. The White House Summit on Aging loved our idea and approached us to participate in their 2015 summit only to cut us weeks later because we were too unproven. We’ve been blown off by investors and our bosses took extremely dim views of our extracurricular activities.

I’m taking a huge risk and it may well fail—indeed more startups do than succeed. But we feel passionately that stories can be used not just to inform the masses in a newspaper or magazine, but to affect change on a personal level, to build community where none exists. So instead of writing about the president-elect, I might be writing about your grandma, or your friend’s grandma, and nothing would make me happier.

Feeling inspired? If you’re ready to begin your own Be Fearless journey start by downloading the Case Foundation’s free Be Fearless Action Guide and Case Studies.

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