Finnovation Lab, a Twin Cities-based program supported by the Bush Foundation, has graduated its inaugural class of social impact entrepreneurs from its fellowship program.
The program's core focus is on the professional development of the entrepreneurs rather than business acceleration. It will help budding entrepreneurs launch and scale their social ventures.
Finnovation Lab introduced the program last year in line with Finnegans' founder Jacquie Berglund's mission to help social entrepreneurs overcome challenges she faced, including lack of guidance, mentorship, and community support.
The Finnovation Fellowship is a nine-month program that supports early-stage entrepreneurs who have great ideas for sustainable and impact changes.
Fellows receive a $50,000 living stipend, healthcare stipend, dedicated workspace, curriculum, and a mentor.
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William D. Eggers and Paul Macmillan of Dowser write about the social entrepreneurs slowly and steadily dirsupting the world of philanthropy. According to Forbes, philanthropy disruptors are those that believe “no one company is so vital that it can’t be replaced and no single business model too perfect to upend.”