Responding to a recent rise in social entrepreneurship, the Rady School of Management at UC San Diego has opened the Social Venture Accelerator, a new business development hub focused on companies that both raise profits and address social issues.
The Social Venture Accelerator—a project of Lada Rasochova, Ph.D., and Kim King—is designed to support any entrepreneurial pursuit that makes the world a better place. Rasochova is the Executive Director of the California Institute for Innovation and Development and currently directs the mystartupXX and StartR business accelerators. King also serves as Co-Director and is an adjunct professor at Rady.
According to Rasochova, the Social Venture Accelerator is the result of “recognizing a need for a program geared toward developing and sustaining socially conscious businesses.” The goal of the accelerator is to “pave the way for future innovative and social entrepreneurs to develop products, services and initiatives that will positively impact the world for years to come.”
The new accelerator is funded by Rady’s Center for Social Innovation and Impact, a facility dedicated to providing students and alumni with the tools needed to address some of the biggest social issues. The accelerator is also part of a broader plan at UC San Diego—the Chagemaker Campus plan—which aims to further connect the campus and community.
The accelerator currently consists of six sessions that discuss various business topics such as business model development, fundraising, and many more. During the final session, participants will present their work to peers and possible investors.
“The workshops provide participants the opportunity to research, discuss and critically reflect upon the landscape and impact of social enterprises and non-for-profits,” King commented. “We take a business approach to develop a social business model canvas and utilize advanced lean startups and customer development principles for social ventures.”
Learn more about Rady’s recent opening at the school’s official website.