The Impact Engine is a Chicago-based venture accelerator that focuses on socially and environmentally minded businesses. The incubator endeavors to equip entrepreneurs with the tools necessary to contribute to social and environmental issues that are failing to be solved by governments or NGOs alone.
The Impact Engine at under the helm of OpenTable founder Chuck Templeton and runs a 12-week program that includes seed funding, mentorship, training and workspace. In return for their investment in a venture, the Engine asks for a 7% stake the businesses they fund.
The Impact Engine recently announced its first batch of startups, several of which have already been covered on SocialBusiness.org like The Collaborative Group and Raise5.
Contact Information
The Impact Engine website
The Impact Engine on Facebook
The Impact Engine on Twitter
Beneficial Business Accelerators
The Impact Engine Supports Social Enterprise in Chicago
Trend Themes
1. Socially Responsible Venture Acceleration - The Impact Engine focuses on socially and environmentally minded businesses, creating opportunities for environmentally friendly startups that offer social responsibility.
2. Collaborative Entrepreneurial Toolkits - The Impact Engine provides seed funding, mentorship and training and, in exchange, asks for a 7% stake in the businesses they help, opening up possibilities for collaborative entrepreneurial toolkits.
3. Innovative Social Impact - The Impact Engine turns business ideas for positive change into sustainable, innovative social impact, which can result in high social and economic returns for investors.
Industry Implications
1. Social Enterprise - The Impact Engine is a venture accelerator that focuses on socially minded businesses, offering opportunities and industry trends in social enterprise.
2. Environmentally-friendly Startups - The Impact Engine supports environmentally-friendly startups that prioritize sustainability, creating industry trends for startups with innovative environmental solutions.
3. Responsible Investment - The Investment Engine supports startups focused on social and environmental issues, opening up opportunities for responsible investment and sustainable returns for investors.