Educating people on Impact. Gathering and distributing capital. Connecting individuals, while encouraging them to find their own ways to contribute. Building and empowering a critical mass. Below are some examples of our community’s initiatives. More are happening, and still more are in development; yet all are about growing and celebrating the impact community of Philadelphia, and making our region THE place for social impact.
New as part of the Chamber of Commerce’s 34th Annual Excellence Awards, the ImpactPHL award will recognize the company or organization most actively creating a positive impact on the community, their workforce and the environment. All nominees for the award are screened via the B-Lab Quick Assessment survey. The award celebration will take place in November 2016.
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Greater Philadelphia Impact Partners:
Funded with a $250,000 planning grant from the US Economic Development Administration to Ben Franklin, and with the support of regional partners including the Philadelphia Foundation and ImpactPHL’s founding organizations, a regional investment partnership is being developed to provide capital to emerging and growth technology-based, impact enterprises. While forming partnerships with other impact investors, the initiative will work to increase the level of funding available to these regional enterprises, while streamlining the processes around deal evaluation and engagement of new investment sources. Drexel University has already committed to the partnership.
VilCap Communities/Core Health Accelerator
Ben Franklin is partnering with global impact investment and venture formation group Village Capital on two initiatives: a Fintech-focused accelerator program unique to ventures based in the Philadelphia region, as well as Philadelphia-based programming to support its national Health accelerator cohort for 2016. Both programs utilize Village Capital’s innovative peer-based review and evaluation model to determine which companies will receive investment from the program. For the Fintech accelerator, two companies will receive a $25,000 investment from Ben Franklin Technology Partners. For the national Health cohort, mentorship and programming will be provided through the partners of the Health Care Innovation Collaborative.
ImpactPHL Social Investment Breakfast Series
The Social Investment Breakfast Series is an informal network of family offices, foundations, funds, venture philanthropy and intermediary organizations with a common focus on social enterprise, entrepreneurship and impact investing. More intimate than your average meetup, the quarterly breakfast sessions encourage knowledge sharing and connectivity that can advance the region’s progress and success.
Best For PHL Initiative
Building on the Chamber’s ImpactPHL Award, efforts are underway to develop a “Best for Greater Philadelphia” initiative with B Lab, promoting the virtues of B Corp readiness to businesses of all scales, while allowing them to evaluate their level of impact using B Lab’s respected methodology and metrics. The ImpactPHL strategic plan includes designated staff and resources to work with regional partners to deliver the campaign.