United Way of the Greater Triangle, an organization that pools donations from corporations and their employees to fund local nonprofits, is taking a new approach to serve its mission while also supporting minority-led startups and fueling the entrepreneurial spirit in the Triangle.
On May 20th United Way holds the first Idea Generation(Next), a competition for female entrepreneurs and those of color to pitch ideas to improve health and human services in the organization’s four-county territory. An application deadline to pitch is approaching at midnight tonight. Apply here.
Idea Generation(Next) is one of the ways the nonprofit is changing its business model to adapt to the needs of the community and create more lasting impact. Specifically, it wants to dial back an alarming disparity of wealth and prosperity in the Triangle. Though our community continues to earn top rankings for quality of life, social mobility and business opportunity, the number of people living in poverty here has doubled since 2000.
United Way has named its new “social innovation initiative” Innovate United, and a key tenet is to include community members and entrepreneurs in dreaming up new ways to approach community issues like childhood hunger, poverty and literacy.
In doing so, United Way wants the nonprofits it traditionally funds to address complex issues in a more innovative and collaborative way than in the past, says Allison Warren-Barbour, senior vice president of research, development & engagement for the United Way of the Greater Triangle. In September, the organization launched a new strategic plan that limited traditional allotments to nonprofits, instead awarding the majority of funds for projects that are collaborative in nature.
At Idea Generation(Next), United Way will host a “Shark Tank” style competition that allows female and minority entrepreneurs to pitch their startup or nonprofit ideas. Audience members will bid against each other to fund each project and LeadersUnited, the chapter’s top donor group, will provide grants to match the top bid to each team. United Way will also provide winners with access to professional expertise and potential mentors.
Read the full story at:
Note: ExitEvent is a news partner of WRAL TechWire.