SE Cincy launches Elevator program to accelerate social enterprises

Flywheel Social Enterprise Hub and its Social Enterprise Cincy program continue to make big strides and take local social entrepreneurs with them. Now the organizations have added another tool for supporting and growing nonprofits and businesses with a “double bottom line” that aim to do good and earn revenue at the same time.
 
Flywheel moved into Cintrifuse’s Union Hall building on Vine Street several months ago, linking the organization even closer to the #StartupCincy community.
 
Flywheel Executive Director Bill Tucker and staff have been able to see first-hand how programs like The Brandery, Ocean and UpTech make a substantial impact on local startups. These accelerator and incubator programs inspired SE Cincy to start a similar resource and support program for social enterprises dubbed Elevator.
 
“Our move to Union Hall in March really helped accelerate that because we were immersed in the community and those organizations are interested in what we’re doing,” Tucker says.
 
According to Tucker, many social enterprises face similar challenges as new for-profit startups, and it made sense that they could benefit from a similar program.
 
With collaborators and inspiration from Design Impact, United Way and elsewhere, SE Cincy is currently taking applications for its new program, dubbed an “elevator” to set it apart from accelerators and incubators. Like an accelerator or incubator, the program will provide social enterprises with classes, resources and mentorship to help them get their footing and raise capital.
 
“Unlike the other accelerators, we don’t have a financial reward at the end,” Tucker says. “Our focus is on getting people in front of impact investors and ready to be investable.”
 
Using this “teach a man to fish” model, SE Cincy Elevator will use curriculum and mentorship to position participants in front of funders who see their return on investment as both financial and having social value.
 
SE Cincy Elevator will differ from other accelerators and incubators in a few other ways as well. To tailor the program to social entrepreneurs, SE Cincy has formatted it to fit the schedules of individuals working full time — meaning much of the 20-hour-per-week, eight-week-long commitment will take place on evenings, with options for online curriculum.
 
Applications are open until July 4 for the program’s first round, and only five social enterprises will be chosen for this pilot run. SE Cincy is looking for enterprises that are market-tested (either through market research or taking the solution to market), can have a substantial impact on the Cincinnati region and are viable, scalable and ready to grow. Incorporating technology would be helpful but isn’t a requirement.
 
Tucker says that the most important requirement of any applicant is a team of dedicated, passionate people willing to work hard for eight weeks in preparation for Demo Day at the Social Enterprise Cincinnati Summit on Oct. 3.