Coast Capital Funds Profitable Good
Every new venture faces challenges in its early stages, and needs critical resources including networks, partners and capital to survive its first few years. When that business is working to create social and environmental impact in addition to profits, the challenge becomes bigger and the resources harder to come by. This year it got a little easier for social entrepreneurs looking to change the world through their businesses, thanks to a $1 million contribution from Coast Capital Savings.
The new Coast Capital Savings Innovation Hub, launched in partnership with UBC’s Sauder School of Business, supports early-stage ventures devoted to solving social and environmental problems using for-profit business models—businesses like Seamarket, which supports sustainable seafood producers to compete in the market and maintain their sustainable practices.
“Ultimately this program will prepare social ventures to pitch for and accept investment, and grow to the next stage,” says Sauder Associate Professor James Tansey. “The vision is to establish B.C. as a world leader for social venture development.”
The social venture accelerator selects qualifying businesses based on both sustainability and social impact. It then provides working space, access to networks, mentorship and student interns, and puts the businesses through a rigorous boot camp designed to help them grow to the next level. By accelerating their readiness for growth, the Coast Capital Savings Innovation Hub is fostering a new breed of business that will change B.C.—and the world—while exposing UBC students to a whole new way of doing business. Turns out doing good really can pay off. Learn more about the Coast Capital Savings Innovation Hub.