Save the Date! May 23rd. Mark your calendars for an exciting opportunity to see the work of the Good Jobs Accelerator in action.
Last week, ICA Fund Good Jobs Good Jobs Accelerator alumni company 4505 Meats, maker of delicious all-natural, humanely-raised, pork rinds and other pork products, announced a new investment from San Francisco-based Encore Consumer Capital. Founded by chef Ryan Farr, the company’s pork rinds have been the fastest growing pork rinds in all of the country.
While the amount raised was not announced, 4505 Meats plans to use the investment to scale operations and expand its line of pork rinds to even more retail locations. 4505 Meats pork products are already sold in stores like Whole Foods, Costco, and Safeway.
Portfolio company Back to the Roots featured in Fast Company.
We're proud to share that investment portfolio company, Back to the Roots, has been named to Fast Company's Top 50 Innovative Company's (MIC 50) list. This year, for the first time, half of the companies on this year’s MIC 50 list are appearing for the first time. It also includes established companies like Disney and Apple, plus upstarts Peloton, Stitch Fix, & Sweetgreens.
"It’s an inspiring group of incredible companies dedicated to bettering the world through innovation," said Alejandro and Nikhil, co-CEOs of Back to the Roots.
The list honors the businesses making the most profound impact on both industry and we are extremely happy to see Alejandro and Nikhil's company featured. See the entire list and read more about Back to the Roots in the official press release here.
Read more here.
We’re excited to share that two of our awesome women-owned Accelerator companies, Yoconut Dairy Free and Progeny Coffee, are nominated for the Small Business Grant Contest organized by shipping and printing giant, FedEx.
The contest enters small businesses from across the United States to win grants of up to $50,000 and up to $7,500 in FedEx Office print and business services.
Progeny and Yoconut were both entered into the running earlier this year, and now, it’s up to the public (aka you) to vote them in to the finals. Voting ends April 1st and the finalists are announced April 5th. You can vote once every 24 hours.
Read on below to learn more about the companies and hear from their founders. When you’re ready to vote, head on over to the Fedex Small Business Grant Contest website and vote!
Yoconut Dairy Free:
Yoconut makes a delicious dairy-free yogurt out from coconuts and other all-natural, alergen-free ingredients. Yoconut DF is on a mission to make healthy and allergy safe foods that everyone can enoy.
Its founder, Bonnie Lau shares “Yoconut Dairy Free is my passion project that is born out of my personal need. I LOVE to eat. So my first question upon picking up running was what I can eat. Magazines upon magazines say yogurt. But dairy just was not for me. After talking to many people, I realized the world needs a better yogurt. We pioneer an incredibly fresh and indulgent, zero food waste, and sustainable coconut yogurt that has naturally occurring electrolytes and zero added sugar. Small batch made in SF.” | vote for Yoconut here.
Progeny sells sustainable 100% Specialty Colombian Coffee, single-origin to coffee lovers all to support its mission of empowering Colombian coffee farmers to get out of poverty.
As CEO, Maria Palacio tells it, Progeny is not only producing delicious coffee, they “have already doubled the income and impacted around 20 families of farmers from the coffee we have sold to companies. We need to keep expanding our work in order to keep helping farmers get out of poverty. We'll use the grant to hire more people to be part of our sales team, therefore, extending our impact with the farmers. We will also improve the working conditions of the farmers in Colombia, so they can focus on increasing the quality of their coffee and get more revenues for it.” | vote for Progeny here.
Sean is moving on from his position as CEO.
With tremendous gratitude for his twelve years of service and leadership, ICA Fund Good Jobs announces a leadership transition: Sean Daniel Murphy is moving on from his role as Chief Executive Officer.
For his entire career, Sean has tirelessly promoted economic freedom by developing disruptive, innovative, and scalable tools that help small business owners grow their businesses, create good jobs, and help employees build new wealth.
After joining Inner City Advisors as a volunteer in 2007, Sean first served as portfolio manager then Chief Operating Officer. In 2013 he founded Fund Good Jobs, one of the country's first nonprofit impact investing funds. In 2016, Sean was selected as the CEO of the combined ICA Fund Good Jobs.
Driven by his philosophy of betting on people who bet on people, Sean has built a dedicated, cross-functional team with extensive experience working with small businesses at various stages of growth. His enduring commitment has grown the organization to national recognition.
“I know that it is time for me to move on but I have so much gratitude for the years I have spent with ICA Fund Good Jobs,” Murphy said. “The organization is stronger than ever, both programmatically and financially. I have complete confidence in the team and I look forward to the continued growth of the accelerator, our investments, and the mission under new leadership. I know that ICA Fund Good Jobs will continue to create wealth and make an impact for the entire region.”
Sean has been a key architect of ICA Fund Good Jobs’ growth and community impact over the past twelve years. Some of his accomplishments at ICA Fund Good Jobs include:
Founding Fund Good Jobs – the country’s first and only investor explicitly committed to the creation of good jobs
Deploying over $3M directly to small businesses and empowering them to secure over $30M in additional capital.
Serving over 500 businesses and creating $1B in local wealth.
Creating over $13M in wages and 1,200 jobs in just the last year.
Launching the Good Jobs Accelerator – its companies have secured over $7.5M in capital since 2017.
Growing the organization from a team of two to more than ten and leading it to its strongest financial year ever in 2018.
Bringing the ICA Fund Good Jobs mission to a national stage and increased regional relevance by becoming a certified Community Development Financial Institution in 2016, building alliances with national partners, like SOCAP and OFN, and partnering with the City of San Jose to launch pilot programs in the South Bay.
Growing the mission by being named to the San Francisco Business Times 40 Under 40 list in 2018, joining the Aspen Institute’s Quality Jobs Fellowship, and being featured in Entrepreneur Magazine, Forbes, and by the PBS Newshour.
We are excited to see what Sean does next professionally and happy to share that Sean is not only working closely with the Board of Directors to manage the transition, but will formally join the ICA Fund Good Jobs Board once a new CEO is hired.
In the near term, Sean looks forward to working on new projects, is grateful for time spent with friends and family, and he remains passionately committed to impact investing, community development, and creating economic opportunity for those who need it most.
The Board of Directors is leading the search for a new CEO and is working with the executive search firm Korn Ferry to find an exceptional candidate.
Ahead of her trip to New York City to join the Confluence Philanthropy Practitioner’s Gathering, Direct of Acceleration, Dianna Tremblay joined a more local panel in our state’s capital.
On Wednesday, February 27th, Dianna and four other panelists talked about ways in which communities, municipalities and organizations like ICA Fund Good Jobs can work together to lift up small businesses run by people of color.
The hour-plus-long discussion was put on by California Groundbreakers, a group of local activists and leaders billing themselves as “a civic-engagement, community-focused organization putting together panels, interviews, discussions and events focused on cool people doing groundbreaking things”
Joining Dianna were:
Nicholas Haystings, executive director of Square Root Academy
Michael Jasso, Sacramento’s assistant city manager for innovation, economic development and community development
Mariah Lichtenstern, founding partner and managing director of DiverseCity Ventures
Tyrone Roderick Williams, director of Sacramento Promise Zone, and director of development for Sacramento Housing and Redevelopment Agency
A podcast recorded at the event is coming soon. You can follow California Groundbreakers here to make sure you’re the first to hear about it. And as always, follow ICA Fund Good Jobs on Twitter and Facebook.