funding for lean impact by christie george
DESCRIPTION
Funding for Lean Impact by Christie George @christiegeorge New Media Ventures The Lean Startup Conference 2013 http://leanstartup.co/TRANSCRIPT
@christiegeorge
We Can Do BetterImproving the Funding of #LeanImpact
I was raised with one very clear message: if you can do better, you should.
There are huge opportunities for Lean Startup to be applied to the social sector.
It’s already happening ...
But ...there a bunch of challenges that we don’t talk about.
When we fail, we fail real people.
Social change takes a long time.
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Identifying the ‘customer’ is complicated.
Who pays for social change?
Funders have a hard time taking risks.
We need to change the way that we fund people to solve big problems.
Encourage experimentation and incentivize risk, in a way that doesn’t penalize social innovators when things don’t go as planned.(things never go as planned)
Funding innovations
Rapidly Deploy Seed Funding
Innovation Fund
Knight Foundation Prototype Fund
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Create a culture where the truth is incentivized.
Worst Grant Contest for Program Officers
Share information obsessively.
Complement Crowdfunding
$20k match
Most impact funding is low risk.
Traditional Funding
Risk Funding
What if we could convince 10 foundations to put $1m each into their own ‘risk’ funds?
@christiegeorge
Let’s Do Better
Thank You