Merism Capital, the UK social impact seed fund, has signed a partnership with US-based Village Capital, a leading incubator programme in the social enterprise space, to run the first Village Capital programme in Europe.
Village Capital London will be a 12-week development process, where participating entrepreneurs will have access to resources and skills to help them develop their early stage for-profit start-ups.�
At the end of the 12-week period, two successful entrepreneurs will be selected by their peers and win �50,000 to fund their businesses.
Village Capital London will launch Hub Venture Lab, a new social venture incubator space started by Merism in partnership with Hub Westminster. This central London space will be accessible to all participating entrepreneurs and will enable them to work collaboratively and gain peer feedback. As well as group work, Hub Venture Lab will also be the location for lectures and mentoring designed to support the candidates as they develop their plans. Lecture topics will include: ?How to think like an investor?; ?Collaboration & partnerships?; and ?Maximising impact?.� Entrepreneurs will also have access to regular mentoring sessions.
?I?m a big admirer of Village Capital?s track record of attracting and training great social entrepreneurs,? explained Stephen Rockman, founder of Merism Capital. ?Village Capital London will help to grow the pool of entrepreneurs equipped with the skills needed to build successful social businesses. Being able to leverage Village Capital?s network and experience will provide a fantastic boost to the whole of the impact investment sector in the UK so we?re really excited about launching Village Capital London.?
The Village Capital programme was created 2 years ago by First Light Ventures, a leading seed-stage social venture fund, and has grown into a network of incubators spanning Boulder, New Orleans, San Francisco and Mumbai. In 2010, 81 entrepreneurs (carefully selected from 500+ applicants went through the programme), with 12 successful entrepreneurs sharing awards of over $1m at the end.� The group attracted a further $4m of investment and created over 200 jobs.
?Through the Village Capital model, social entrepreneurs use the power of peer support to change the world
said Ross Baird, Executive Director of Village Capital.� ?Starting a business can be a lonely thing.� We find that peers are each other?s best advisors?and toughest critics!� By putting the power of actually allocating capital in the hands of the entrepreneurs themselves, we flip the power dynamic of raising money on its head.� The programme is able to lift up the most investment-ready while providing strong feedback, encouragement, and growth to everyone who participates.?�
?Building a successful business is all about relationships,? added Stephen Rockman.� ?In addition to their relationships with investors, entrepreneurs also need to build peer support networks for validation and collaboration. �This programme is a great opportunity for them to do just that.?
Details of how to apply for the first programme will be announced by the end of May.
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