Joining forces with SOCAP to Bridge the Bay Area.

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For over 22 years, we have worked hands-on with hundreds of diverse, high-potential businesses to create good jobs and economic freedom for those who need it most. This year, for the first time, we’re partnering with SOCAP, the world’s premier impact investment and social entrepreneurship conference. And you're invited. 

By joining forces, we are bringing to light the power of our two models and shining a light on the work, achievements, and needs of entrepreneurs in Oakland, San Francisco and the greater Bay Area. We feel that SOCAP’s global network of experienced investors and impact capitalists coupled with our network of high-growth and high-impact, yet sometimes overlooked, businesses are a great match.

And you're invited! As part of the conference, we will host a panel, hold an exclusive reception at the Museo Italo Americano, and have opportunities for our entrepreneurs to attend the conference on our behalf. Additionally we are actively looking for sponsors to support this new partnership. If you'd like to attend the conference, get an invite to our reception, or be a sponsor, please reach out.

JOIN US:

Reign Free Opening New Bear's Lair in Berkeley.

Reign Free, owner of Good Jobs Accelerator company The Red Door Catering, is opening a new restaurant on the University of California campus in Berkeley. The concept, a modern bar and grill, will be the new incarnation of the Bear's Lair, which had previously closed in 2012, and will be run by Reign along with renowned San Francisco chef David Lawrence

Reign and Chef Lawrence are featured in a great write-up in the San Francisco Chronicle. In it Reign talks about the menu (still to be decided but likely to feature, the Impossible Burger, dozens of beers on tap, and fried chicken), the growth of her brand, and future plans. 

Stay tuned for the grand opening of the new Bear's Lair sometime in September, and check out the full Chronicle piece here. 

A Conversation with Sean Daniel Murphy, hosted by the Aspen Institute

As an organization, Economic Freedom is our North Star. And good jobs are an critical metric of that.
— Sean Daniel Murphy

ICA Fund Good Jobs CEO, Sean Daniel Murphy, is featured on the Aspen Institute's Job Quality Fellowship blog. Sean recently chatted with the Aspen about his vision for our work, his perspective on the role of Good Jobs, and his reflections as a 2017 – 2018 Job Quality Fellow with the Institute.

In the piece, Sean shares how he sees the organization's unique position as both a community-based organization and investor evolving over the years, his learnings from the first five years of directly "funding good jobs" and the role equity will play in future deals (hint: it's an important one). 

Here are some highlights:

On the success of our Good Jobs Accelerator:

In 2017, our Good Jobs Accelerator cohort collectively employed 303 workers and paid workers an average wage of $20.82. Eighty percent of workers in these 10 companies had access to health benefits, and the companies have grown their revenues and jobs, year over year, by 31 and 24 percent, respectively. Average annual revenue increased by $491,000 per company, and 59 new jobs were created. Through our relationships with other funders, we were also able to direct participating businesses to $6.9 million in capital to support their growth, meeting 85 percent of their combined capital need.

Highlighting the power of leveraging the capital stack: 

We are proud that, for every dollar of our initial investment, Seed Fund businesses have unlocked an additional $10 in capital. That’s more than $20 million going to good-job-creating companies that otherwise struggle with securing investment. With results like these, imagine the impact an investment fund with $100 million or $1 billion could make on quality jobs.

How the Fellowship spurs collaboration:

What stands out to me most are the unique relationships I have formed and the true spirit of collaboration that the Fellowship embodies. For instance, I am currently collaborating with Christine Curella of the New York City Mayor’s Office. Christine is not only a partner through the Fellowship, but also a thought partner to ICA Fund Good Jobs as part of the Ascend network funded by JPMorgan Chase. There’s a lot of learning to be had, from coast to coast, and that’s powerful.

Click here to read the entire piece at the Aspen Institute's Job Quality Initiative website. 

Looking back on the 2018 Path 2 Cash Mixer [Photos]

Earlier this summer, business owners looking to secure growth capital, oour pro bono advisors, investors, and community members gathered at Lorry I Lokey School of Business and Public Policy for our 2018 Path 2 Cash Mixer. The mixer, an opportunity to mix and mingle with almost a hundred of our closest friends, was the social portion of a day that started with our Path 2 Cash one-on-one advising, where entrepreneurs met with experienced capital strategists to get on the path to raising growth capital for their businesses. 

Here are some photos from that day. 

ICA Fund Good Jobs, an intern's perspective.

by Claudia Reyes, ICA Fund Good Jobs 2017-2018 intern

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ICA Cristo Rey Academy is an all-girls high school that has a distinct program called the Corporate Work Study Program which gives every girl at ICA Cristo Rey Academy the opportunity to work as an intern throughout their four years of high school. The Corporate Work Study Program is unique because it allows all the young women at ICA Cristo Rey Academy to gain work experience without missing any classes. ICA Cristo Rey Academy partners with many sponsors, including ICA Fund Good Jobs, to give girls at the school the incredible opportunity to go out into the work field and gain work experience that they can use in the future, all while offsetting the cost of tuition. All the students at ICA Cristo Rey Academy work five days a month at a job that they were assigned to at the beginning of the school year, and I was fortunate enough to be placed at ICA Fund Good Jobs for my junior year.

 From letft: Dianna Tremblay, Michelle Nalerio, Claudia Reyes, and Caron Gugssa-Howard.

From letft: Dianna Tremblay, Michelle Nalerio, Claudia Reyes, and Caron Gugssa-Howard.

Prior to working at ICA Fund Good Jobs, in my sophomore year I interned at a much bigger office. Transitioning to working in a  smaller setting was difficult at first because I went from having my own desk and room to working in a communal office space and working at a table in the middle of the room. I adjusted quickly to this and it was great that I got the opportunity to work in an office environment that I was not used to, since it’s good to have new experiences. I also had to adjust to working with fewer coworkers. I went from having thirty plus coworkers to only having about ten at ICA Fund Good Jobs. Having only a few coworkers was good though because it gave me the opportunity to become comfortable with them and get to know them quickly. The family atmosphere in the office also made it easier to adapt to working in a new setting because everyone in the office was kind to me and always treated me as one of their coworkers rather than a temporary intern.

Overall, I have had a very positive experience working my junior year at ICA Fund Good Jobs. My coworkers have been very welcoming and have taken the time to train me to do the tasks that they assigned me to do. I like that I was given a considerable amount of responsibility and I was able to learn a lot of new things, like using the Salesforce database and Google applications. I was made to feel like the work I was doing mattered since I was given due dates and the work that I did in Google Sheets was oftentimes used and edited by other coworkers later on. The people I have worked with have also made my work experience great because they have been very kind to me and have taken the time to train me with tasks I wasn’t familiar with.

I am grateful that I have gotten the opportunity to work at an amazing company like ICA Fund Good Jobs because the skills I have learned can be used anywhere I go and it’s not as if they can only be applied to nonprofit related jobs, so I am appreciative of the skills I’ve acquired from time I’ve gotten to work at ICA Fund Good Jobs.


 

Behind the scenes with Path 2 Cash – advisor matchmaking.


Path 2 cash, our one-on-one advising workshop for capital-seeking businesses is almost here. (applications are live now). While Path 2 Cash is a half-day session hosted at the Mills College Lorry I Lokey School of Business and Public Policy, the preparation involved in creating and hosting the session takes is a many-week process.  

Here’s how it happens: 
After receiving many online applications to Path 2 Cash through our online portal, the Entrepreneur Services team sorts, organizes, and categorizes the applicants by need, industry, business size, along with a few other metrics. The team – Caron, Michelle, Ingrid, Dianna – evaluates each company, strategizes on the best opportunities for advisor engagement, and make a short list of accepted companies, their needs, and potential advisor matches. 

 Baba Afolabi talks with Ingrid Jacobson at Path 2 Cash 2016. 

Baba Afolabi talks with Ingrid Jacobson at Path 2 Cash 2016. 

There’s an advisor for that:the matchmaking process is the way ICA Fund Good Jobs companies get the support they need.

 Chinwe Onyeagoro at Path 2 Cash 2016. 

Chinwe Onyeagoro at Path 2 Cash 2016. 

Path 2 Cash participants are companies that are looking to secure capital within the next 12 months and that demonstrate a commitment to the creation of good jobs. But their specific needs diverge greatly. Some companies are looking for ways to speak more clearly about their business by the numbers, and others are looking to identify the best types of capital for their business stage. Others still have a clear path towards investment but need support on compiling and presenting the right type of financial documents. 

Path 2 Cash is one of the best examples of the power of our advising model. It’s truly our mission in action.
— Ingrid Jacobson – Managing Director, Entrepreneur Services
 Behind the scenes during Path 2 Cash selection time. 

Behind the scenes during Path 2 Cash selection time. 

Our advisors are hand-picked by our team to match the needs of our entrepreneurs and to provide expertise relevant to their industries.  

The team organizes a series of conversations with the entrepreneurs before the Path 2 Cash session to dive in to the issues they need most help with. Relying on an amazing network of talented advisors, to provide realtime, practical, and actionable advice. 

The end goal is that when Path 2 Cash happens on July 19th, the entrepreneur and advisors know each other. The entrepreneurs are able to vocalize their needs, and the advisors have an intimate understanding of the small businesses they are supporting. 

And the rest happens at Path 2 Cash. 

If you are planning to raise capital in the next 12 months, you can apply to Path 2 Cash here.