The Civic Accelerator is seeking applications from early stage for-profit and nonprofit ventures who are increasing the financial well-being and economic mobility of underserved populations.
The Points of Light Civic Accelerator was founded with support from the PwC Charitable Foundation and the Starbucks Foundation, in partnership with Village Capital. Program sponsorship provided by Capital One, U.S. Small Business Administration, Vodafone Americas Foundation, Hilton Worldwide, Dentons and Singing for Change.
Both Points of Light and Village Capital are separate, stand-alone 501 (c)(3) nonprofit organizations. We have a shared mission around supporting social entrepreneurs which brought us together to launch the Civic Accelerator program.
Yes. We are agnostic to legal structure and instead focus on the mission and impact that a social enterprise can have on the world.
At the conclusion of the Civic Accelerator program, two teams will be selected to receive $50,000 investments each, with the decision being made by the entrepreneurs themselves. If the team is a for profit, the investment will be made as an 8 percent convertible debt note, at a 20 percent discount or convertible to 8 percent equity after two years. If the team is a nonprofit, the investment will be made as a revenue share agreement tied to earned (unrestricted) revenue. All returns from these investments will be reinvested in future startups participating in the Civic Accelerator program.
No, the Civic Accelerator does not charge for participation. A limited air travel stipend ($1,200 total for the 10-week program) and hotel accommodations are available for selected ventures, and most meals during the program are provided by Points of Light.
The Civic Accelerator is a 10-week program, bringing together two- to three-person teams from across the U.S. We plan to convene the entire cohort of 10 to 15 teams for three four-day sessions or retreats over the course of the 10 weeks. In addition, teams will be grouped based on their geography, paired with local mentors and required to meet weekly (through virtual mediums) during the times when they are not together as a single cohort. Find out more about the Civic Accelerator schedule.
Applications for the Spring 2017 Civic Accelerator program are due March 2, 2017 at 5:00pm EST. You can apply and find more information on our Apply page. If you have any questions, please don’t hesitate to contact us.