Dianna selected to 500 Startups Bootcamp

We're happy to share that Dianna Tremblay, Director of Acceleration, has been selected to the 500 Startups Bootcamp for Accelerator Managers (BAM)!

 Dianna Tremblay leading a Good Jobs Accelerator session.

Dianna Tremblay leading a Good Jobs Accelerator session.

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Under Dianna's management, our Accelerator companies have raised close to $7M in growth capital, have created and retained over 400 jobs, consistently grown wages year over year, and are run by majority women & people of color management teams. 

The 500 Startups bootcamp is a one week professional development opportunity that focuses on scaling up Accelerator operations and increasing deal flow. (And it kicks off next week.)

Dianna is fundraising to meet the tuition costs and you can join her by backing her Fundly campaign here.

Making inroads in Chicago, an OFN Conference recap.

Last week, CEO, Sean Daniel Murphy, Director of Regional Strategy and Partnerships, Ingrid Jacobson, and Investment Associate, Rasheed Mitchell joined the CDFI community for the Opportunity Finance Network's annual conference, held in Chicago.

At the three day event, the team had opportunity to meet with other CDFI leaders, talk investment strategies, discuss best practices, and more. 

Here are are a couple #OFNCONF highlights:

 Sean, Ingrid, and Rasheed at the OFN Conference in Chicago

Sean, Ingrid, and Rasheed at the OFN Conference in Chicago

 Sean Daniel Murphy, Michael Jeans, and Catherine Howard on a panel at 2018 OFN annual conference.

Sean Daniel Murphy, Michael Jeans, and Catherine Howard on a panel at 2018 OFN annual conference.

Sean hosts panel with NCCLF and Growth Opportunity Partners

Sean hosted a panel discussion with Catherine Howard of the Northern California Community Loan Fund (NCCLF), and Michael Jeans of Growth Opportunity Partners in Cleveland, titled "Beyond micro-lending: using collaborative growth capital and support to build inclusive economies in which no small biz gets left behind".

The panelists discussed how CDFIs (Community Development Financial Institutions), like ICA Fund Good Jobs, can make a real impact on often overlooked, undercapitalized, and under-served small businesses, by working together to build capital stacks, mitigate risks, and collaborate in all phases of the investment process. The trio also shared strategies, challenges, and learnings for making this sort of work happen. 

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Lisa Mensah talks about ICA Fund Good Jobs in keynote address

Earlier this year, Opportunity Finance Network CEO, Lisa Mensah visited our headquarters in Oakland. After meeting with Sean and members of the ICA Fund Good Jobs team, she toured two of our investment portfolio companies, Firebrand Artisan Breads and Impact HUB Oakland.

In Chicago, at the national conference, Lisa talked about her experience from that day in Oakland – from enjoying a cappuccino at Firebrand, to meeting the employees of our companies and learning the deep impact of our work – much of which she shared with the keynote audience. 

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.