Wednesday, February 20, 2013

CROWDIMPACT LA Dangles $20K Prize For Social Enterprise Startups

Crowdfunder, the Los Angeles startup led by CHance Barnett, has launched another crowdfunding event aimed at the local industry, saying Wednesday that it has launched CROWDIMPACT LA, a pitching competition which will award $20,000 in a top prize to a winning social enterprise company. The event is similar to CROWDSTART LA, a pitching competition the company launched last year. This time, Crowdfunder said it is focusing on companies in the scoial enterprise space, and has partnred with Demand Media, along with Toniic, TED Fellows, Thiel Foundation and others specifically aimed at the social enterprise.

Crowdfunder said that only for-profit, social enterprise businesses are eligible to apply for the prize. The firm said that social enterprises include companies which use entrepreneurial approaches to addressing social, environmental and human justice issues, but also generate renerate revenue through the sale of products and/or services. Nonprofits are not eligible for the event, and the company said that companies must be able to showcase an existing product or service--no ideas or concepts are allowed. Deadline for entry is March 28th.

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