Giving Compass’ Take:
• New Profit is launching an initiative that aims to bridge the gap for social entrepreneurs of color by providing targeted capital to support Black, Indigenous, and Latino/a/x innovators.
• How can you direct your dollars toward underserved or overlooked entrepreneurs?
At the Inclusive Impact Action Summit, a major gathering of social entrepreneurs, philanthropists, and other leaders starting today in Washington, D.C., the pioneering venture philanthropy organization New Profit will launch a new effort to increase equity in the social sector so that the most promising ideas to create social and economic mobility can flourish. The new initiative, called Inclusive Impact, is designed to drive unprecedented capital and support to some of our nation’s most promising innovators—Black, Indigenous, and Latino/a/x social entrepreneurs.
These entrepreneurs often have close proximity to the communities the sector seeks to serve and understand the multi-dimensional root causes of social issues, but receive only a fraction of philanthropy’s resources aimed at solving them.
“The real promise of philanthropy resides beyond our reach because we fail to value and trust the expertise of those most proximate to the communities we seek to support and the problems we need to solve,” said Tulaine Montgomery, a New Profit Managing Partner who leads the Inclusive Impact initiative. “Closing the capital gap for social entrepreneurs of color and valuing their insights is something that philanthropy can do in the short term, and doing so is required for transformative change to happen in this country.”
Read the full article about social entrepreneurs of color at New Profit.
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