FOR MORE INFORMATION, CONTACT:
Khotan Shahbazi-Harmon, Director of Communications
(O) 512.223-7244 or (C) 512.968.3023
Investment Recipients Selected from Austin’s
First-ever Nonprofit Accelerator Program
E3 Alliance to receive human capital to scale impact
Oct. 2, 2014 (Austin, Texas).Greenlights, a leader in Central Texas’ nonprofit and social entrepreneurship community, selected E3 Alliance as one of three high-impact, high-potential nonprofits to receive significant investment and support as the result of its inaugural Accelerator program. E3 Alliance will receive a one-year infusion of human capital to scale its proven RaiseUP Texas model in sixteen Central Texas schools to dramatically improve student achievement for up to 28,000 middle school students.
The Accelerator Programs’ human capital investment includes free business growth consulting and mentorship, provided by Greenlights’ Consultants and Social Venture Partners.
“I got so much out of the Accelerator process and from Susan Dawson and Molly Young at E3 Alliance” Said Richard A. Tagle, the CEO of the Andy Roddick Foundation a Social Venture Partner and E3 Alliance’s business mentor in the Accelerator process. “E3 Alliance is the group that has deep mastery of the education issues in this region and what it will take to address these issues. The challenge they want to address is complex and complicated and requires thoughtful and systemic strategy. They absolutely have what it takes to execute this well.”
Five of Austin’s most innovative nonprofits, which also included Easter Seals of Central Texas, Mother’s Milk Bank of Austin, Caritas and Fusebox, were chosen to participate in the rigorous consulting and mentorship program. On Sept. 8, after completing the four-month Accelerator, the five organizations pitched investor-ready business growth plans to more than 100 philanthropists, impact investors and community leaders.
“This inaugural program has been a huge success, beyond anything we could have imagined” said Matt Kouri, CEO of Greenlights. “It is an example of the future of social innovation and community problem-solving. We’re excited for this opportunity to bring together business entrepreneurs and nonprofit leaders in new and impactful ways. This one-of-a-kind program advances social impact, and does so by bridging the gap between the for-profit and nonprofit sectors.”
Following the pitches, a selection committee of Greenlights’ Social Venture Partners conducted an in-depth deliberation and due diligence process to choose the three organizations for investment. The partners ultimately chose three high-potential non-profits E3 Alliance, Easter Seals of Central Texas and Mother’s Milk Bank of Austin to invest with entrepreneurial human and financial capital.
“We are honored to be included in this inaugural group,” Said Susan Dawson the President of E3 Alliance, “The support and guidance we have received from our participation in the Accelerator program has been beyond anything we could have imagined. The rigorous business mentorship and tailored strategic coaching offered us was instrumental in our development of an investor-ready business plan that can create a real tipping point for systems change for student achievement in Central Texas and beyond.”
Greenlights’ Social Venture Partners are business leaders and social entrepreneurs who give generously of their time, talent and treasure to make powerful investments in high-impact, local nonprofits, helping them scale innovative programs and services to better solve big community problems.
Visit Greenlights’ website to find out more about next year’s Accelerator program or become involved as a Social Venture Partner.
About Education Equals Economics (E3 Alliance)
E3 Alliance is a regional, data-driven, education collaborative based in Austin, Texas. We are leading the effort to build the strongest educational pipeline in the country to drive economic prosperity for Central Texas. We do this by using objective data and focused community collaboration to align our education systems so that all students can succeed. Together with the Central Texas community, we have created The Blueprint for Educational Change, our region’s strategic plan to build the strongest educational pipeline in the country. www.e3alliance.org, @E3Alliance