Get In The Arena

Time to Tap All of America’s Entrepreneurship Potential

Posted on by Case Foundation

Entrepreneurs have been at the center of our American story for centuries. Indeed, entrepreneurs have powered our economy, fueled job growth and introduced innovations that have contributed to the quality of life we enjoy today. In fact, you could say that the American Experience is built on the backs of entrepreneurs who took risks because they believed that in America, anyone from anywhere could bring the next big idea to life.

While as a nation we celebrate our startup and innovation culture, any telling of this American story would not be complete without noting that a fundamental shift has taken place in recent decades in the funding of entrepreneurs and the new companies they build: venture capital. Venture capital is known for its role in funding select firms that have high growth potential. Indeed, many of the most celebrated American brands and businesses were fueled by an infusion of early venture capital into the companies, including Google, Airbnb, Whole Foods, Starbucks and Tesla. And the role of venture capital goes far beyond funding – it often brings with it strategic guidance for young entrepreneurs, access to an elite network of other successful business leaders and often serves as a magnet for follow-on funding by others. The economic impact of venture capital cannot be overstated. A 2015 study by Stanford School of Business on the subject had this to say: “Venture capital has profoundly changed the U.S. economy. It has become a dominant force in the financing of innovative American companies.”

Think of venture capital as the “secret sauce” of investments and resources that often make the difference as to whether a young entrepreneur breaks out with great success, or withers on the vine. But a growing body of data highlights a sobering fact: we aren’t tapping the full potential for innovation and ingenuity in this great nation because venture capital has favored a limited few – most of them men; most of them white. Indeed, research into where the venture capital is going reveals that only 10% of venture-backed companies had a female founder; only 1% had an African American founder. And 78% of all venture capital went to just 3 states: California, New York and Massachusetts, leaving the other 47 states to share just a quarter of the pie. Imagine the potential economic upside if more segments of society could compete for venture capital for their firms.

And the data shows the sectors being overlooked by venture capital are strong, vibrant and perform well.

Consider the data:

When it comes to performance in business, data suggests these groups can outperform the norms. For instance, Fortune reported that women-led companies perform three times better than the S&P 500. First Round Capital looked at their portfolio of investments and found that companies with a female founder performed 60% better than those with all-male founded teams. A McKinsey study reported that racially diverse companies outperform industry norms by 35%. And those other 47 states? They are the home of three-quarters of all Fortune 500 companies. There is a deep and rich history of innovation and business success between the coasts in America.

At the Case Foundation, we believe that this data, while arresting, represents a powerful economic opportunity to seize, simply by taking steps to be intentional in reaching out to find and fund new, high growth and innovative startups from broader segments of society. By building onramps to funding, networking and mentoring for all sectors of society, we can expand economic opportunities more broadly and tap markets that have been underserved. We know that investors and, frankly most of us, connect to people with similar experiences. As 93 percent of investing partners at the top 100 venture firms are men, they will need to consciously step outside their comfort zones. But the data and the opportunity outlined here speaks directly to why many joined the venture capital field in the first place. We think funding entrepreneurs who see things a little differently and who develop innovations that tap new markets is at the center of the venture capital world and those who open doors to a more diverse pool of innovators will be pleased with what they find.

And we are not alone in our excitement for the opportunities that will come from infusing new energy and new perspectives into the country’s entrepreneurial ecosystem. Our partners in this work, the Kauffman Foundation, have championed initiatives to expand entrepreneurial growth and just this month launched a campaign to lower barriers to entry for new businesses and to “develop solutions and empower more entrepreneurs to pursue their ambitions.”

As part of this movement, we have launched the Medium publication #FacesofFounders, designed to elevate a discussion of entrepreneurship, race, place and gender. We welcome you to engage with this conversation, share your story and hear from founders of all backgrounds, at all stages in their startup journey, to highlight how entrepreneurs with groundbreaking ideas come from all backgrounds and are poised to play a key role in America’s innovation economy.

To start the conversation about identifying the next generation of innovators, #FaceofFounders on Medium will be focusing on three opportunities for you to take action to support entrepreneurs nationwide.

Opportunity 1: Champion All Entrepreneurs

There are diverse entrepreneurs out there already starting, growing and successfully exiting their ventures, across sectors of society and across the nation. We will showcase the incredible pipeline of entrepreneurs already calling themselves “Founders” and embracing the entrepreneurial spirit. And we urge you to join us in celebrating this universe of inclusive entrepreneurs.

Opportunity 2: Challenge Unconscious Bias

We also must open the door to more people by acknowledging that unconscious bias is real. By acknowledging that unconscious bias is real, we can begin to create systems that source entrepreneurs beyond existing bubbles and influence the standard criteria used by investors as they assess potential investments.

Opportunity 3: Extend Privilege—Get in the Arena

Investors, ecosystem builders, mentors, advocates, connectors, board members. No matter who you are, there’s a role you can play to extend opportunities to all entrepreneurs. #GetInTheArena and help champion the possibility of entrepreneurship for all.

The Path Forward

To educate and inspire you to take action, we will feature stories of diverse entrepreneurs who are dreaming, building and scaling successful businesses. These founders come from all backgrounds—women, men, Latinx, African Americans, B Corps, students, immigrants, moms, engineers, artists—but have a common vision that their idea holds great promise. Each week, we will profile an innovator that you may or may not have heard of, but whose story will hopefully inspire you or someone you know to say “I can do it. I can be an entrepreneur.” If we seize this opportunity to democratize entrepreneurship, we will not only support new innovators, we will strengthen innovation and redouble our commitment that anyone from anywhere has a fair shot at the American Dream.

Join the conversation on entrepreneurship, race, place and gender at FacesofFounders.org.

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.

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!

It’s Time to Get in the Arena

Posted on by Case Foundation

2017 is a special year for us at the Case Foundation. It marks the 20th anniversary of an idea that has continued to drive and inspire us in all that we do—investing in people and ideas that can change the world. Over the last two decades, with this vision, and in collaboration with a vast array of parties, we have been proud to contribute to, inspire and champion the incredible progress that has moved people and organizations from intention to action. From clean water and the digital divide, to increased opportunities for service and civic participation, to impact investing and inclusive entrepreneurship, we have worked with others to catalyze efforts to create transformative change. 

Over the past 20 years, philanthropy and the social sector has witnessed incredible progress. We believe that leveraging the power of the entrepreneurial spirit and technology to help solve the world’s most challenging problems is a key ingredient to this progress, and, as we kickoff our 20th year, we remain committed to ensuring this focus is at the center of all our work. At the same time, our experience over the past 20 years has taught us that addressing these challenges through true collaboration amongst diverse actors and smart partnerships is much more effective than fighting alone, and therefore we commit that collaboration will continue to be a hallmark of our work in the days ahead.

Through all of these experiences we have learned a great deal and recognize that the lessons learned will both inspire and inform our future. As we look back, it’s hard not to see that the common key to all of our efforts has been pushing ourselves and others to challenge assumptions and take risks. We have challenged ourselves and others to get off the sidelines and “get into the arena” to address our most pressing challenges.

This is not a new idea of course, but it resonates more in the context of today’s world than perhaps ever before. Citizen engagement has been a hallmark of successful democracies for centuries and is core to our mission. In 1910, Teddy Roosevelt gave a speech known as, “The Man In The Arena” that captures this fundamental belief in citizen engagement: 

It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.

As we welcome 2017, Teddy Roosevelt’s words still ring true. And we can think of no better time than now for each of us to identify ways we, personally, can heed his call and “get in the arena” to make a positive impact in our communities. That is why we are dedicating our 20th Anniversary year to calling on all to “Get in the Arena.”

Throughout 2017, we will be bringing forward ideas, stories and events that highlight people and ideas that can change the world using the hashtag #GetInTheArena. We hope you will join us and share with us your own vision of what it means to take action on the issues and challenges that matter the most to you and your community. For those wondering when it is the right time to jump in, the answer is now. For those already in the arena, we hope you’ll engage in new ways and inspire others to jump in as well.  

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