Central Florida as the Silicon Valley of for-profit and nonprofit startups
There’s great discussion in our community about how we must diversify our job base, increase higher-wage skills and move historically disadvantaged populations up the economic ladder.
It’s important we continue to lure outside companies to Central Florida and support our local start-ups. But what if we could create meaningful career opportunities through a revolutionary grassroots approach — one that does more than just sustaining a particular business model, but also solves real societal problems?
What if Orlando grew to become the nation’s hub for social enterprise — the Silicon Valley of forprofit and nonprofit startups, where businesses built in Central Florida, tackle various social, environmental and economic issues? It’s an ambitious goal, but worth the investment. Thus some of the region’s most prominent businesses and institutions formed the Central Florida Social Enterprise Accelerator, a multifaceted program in conjunction with Rollins College, helping entrepreneurs secure the connections, resources and funding to launch gamechanging ideas.
On June 28 the Orlando Sentinel reported (“New Rollins partnership is Shark Tank for social entrepreneurs”), the Accelerator is led by a public-private collaboration that also includes Orlando-based Clean the World, which recycles discarded hotel soaps to battle global disease, and Downtown CREDO, which runs four name-your-price coffee shops.
J.P. Morgan, CNL Financial Group, Tupperware and Greenberg Traurig law firm are also key backers of the Accelerator, along with Central Florida Foundation and Entrepreneurs in Action. The city of Orlando has also embraced the Accelerator as a tool to positively impact the economic development and local social issues.
Together, our mission is to turn dreams into reality, by bringing positive social change fueled by creative, profitable and sustainable economic ventures. Through the Accelerator, six to eight teams will compete for a minimum $25,000 investment following a six-month, customized program with proven curriculum designed by Rollins. Teams will enjoy access to a team of mentors, faculty and student interns, as well as legal, accounting and marketing professionals.
Regardless of who wins, participants will graduate from the Accelerator with a more detailed business plan, enhanced professional network and clearer roadmap to business and social impact success.
The first class begins in September, but already the concept is taking hold. Two entrepreneurs from Orlando were about to move to California to grow its socialbenefit app called Snapgood. When they heard about the Accelerator, they scrapped those plans, deciding to apply to the program instead.
As word gets out, I expect that kind of enthusiasm will start generating interest from entrepreneurs and investors alike.
By their very nature, social enterprises are deeply attached to their communities. They are owned and operated by higher percentages of women and minorities than the traditional “tech” startup, and they attract millennials looking to get involved and give in a personal way.
As Orlando seeks to broaden its economy, imagine the possibilities that will emerge from accelerating our commitment to social enterprise. By empowering entrepreneurs to bridge the world of business and the world in need, we can positively impact our community while expanding our economy.