Trustee Spotlight: SEED SPOT
This is a joint blog post written with the help of Courtney Klein, Co-Founder & CEO of SEED SPOT.
Imagine being part of a community of social entrepreneurs who are launching new products, services, or technologies to improve the human condition. Imagine going through a rigorous 16-week program designed to test your assumptions, validate your business model, and accelerate your progress. Then imagine being surrounded by mentors, experts, and advisors on a weekly basis who care deeply about your success. On top of all of that, imagine having access to capital opportunities to secure funding for your venture.
Those are just a few of the beneficial services of SEED SPOT, an incubator focused on supporting social entrepreneurs. Since its launch, SEED SPOT has supported over 100 entrepreneurial ventures and, since 2012, SEED SPOT has been endorsing entrepreneurs on Kiva Zip.
Entrepreneurs need a solid business model and a real plan for attracting, keeping, and growing customers. SEED SPOT works exclusively with entrepreneurs developing a product, service, or technology that tackles a major human, environmental, or social problem. Through a rigorous 16-week program, SEED SPOT entrepreneurs are challenged to dive deep and ensure that they have a strong value proposition, customer validation, confidence in revenue streams and pricing, a strong business model, a solid understanding of capital requirements and how to raise them, and confidence in pitching their venture to donors or investors.
One of the major challenges for early stage ideas is capital. "Kiva Zip is an incredible place for entrepreneurs to secure early stage funding at 0% interest," states Courtney Klein, Co-Founder and CEO of SEED SPOT, "But Kiva Zip does more than that. It is a hub of inspiration. It draws in a community of believers. Entrepreneurs need inspiration, capital, support, and community to bring their dreams to life."
SEED SPOT has endorsed several borrowers as a Kiva Zip Trustee, including Robert at Paper Clouds Apparel. Robert used his $5,000 loan to spread awareness about his company, a nonprofit that raises funds for special needs schools and organizations while showcasing the creative minds and artistic abilities of individuals with special needs.
SEED SPOT also endorsed Derrick at Boogüd. Derrick used his $5,000 loan to buy equipment for his bamboo bicycles company. With every sale of a bamboo bicycle, Boogüd donates a handcycle to disabled child in need.
Now through January 24th, SEED SPOT is looking for the top 12 social entrepreneurs in the country to run through their Spring 2014 program. SEED SPOT is headquartered in Phoenix, Arizona but has the technology in place to support entrepreneurs anywhere in the world. As a nonprofit, SEED SPOT charges a nominal flat fee and does not take equity in the ventures selected for their program.
Read more, hear from SEED SPOT alumni, and apply online by January 24th at: http://seedspot.org/apply/.
You can support a SEED SPOT entrepreneur on Kiva Zip by making a loan!