For Immediate Release
July 8, 2014
The Alliance for Community Development has partnered with DRÆM VENTURES to help increase access to capital for startups with diverse founding teams and companies focused on making a positive economic, environmental, and social impact.
OAKLAND, July 8, 2014 – The Alliance for Community Development of the San Francisco Bay Area (ACD) is now accepting applications to pitch at the annual capital connections conference from startup founders across the San Francisco Bay Area and Northern California. ACD and DRÆM VENTURES have joined forces to fund and develop the finalist startup companies with diverse leadership at the 2014 Bay Area Capital Connections Conference by joining the DRÆM VENTURES pre-seed funding portfolio. The portfolio was created to fund early stage, scalable startups that deliver positive economic, environmental, and social impact. Ari Eisenstat, CEO of DRÆM VENTURES, explains, “Joining the pre-seed portfolio is a new step for talented, diverse entrepreneurs who historically have been disconnected from sources of startup capital.” Applicants selected as pitch event finalists receive $5,000 in micro-investment as well as business and professional resources to develop the company and prepare to pitch in October.
The selected finalists put the $5,000 pre-seed “micro-investment” from DRÆM VENTURES to work before they present at the upcoming Startup Pitch Showcase, part of the 2014 Bay Area Capital Connections (BACC) Conference, Funding Impact Entrepreneurs, which takes place October 9, 2014. A joint team from the Alliance for Community Development and the BACC Conference will select the finalists, who will also receive support to further refine their business model and pitch in preparation for the Startup Pitch Showcase in October.
According to the Kaufman Foundation, just 4.4% of investment funds go to women led startups and 1-2% of investment funds to African American and Latino entrepreneurs. “It will take more than just training to break through these numbers,” says Darlene Crane, Executive Director at the Alliance for Community Development. She continues, “This pre-seed funding opportunity will be a great chance for companies with diverse leadership to secure funding, access resources to strengthen their business model, and gain a presence in investment networks necessary to scale a business and have impact.”
We strongly encourage applications from companies with diverse leadership teams –inclusive of women, minorities, disabled veterans, and disabled individuals to apply for the $5,000 pre-seed investment and the opportunity to present at the 2014 BACC Conference Startup Pitch Showcase. There is no cost to apply. The deadline to apply is midnight July 27, 2014. For details about the selection process and how to apply, visit the 2014 BACC Entrepreneur Application Web page.
About the 2014 Bay Area Capital Connections Conference
The 2014 BACC Conference: Funding for Impact Entrepreneurs takes place on Thursday, October 9, 2014 at the Kaiser Center Auditorium and Lakeside Theater in Oakland, CA. For more information about the event, please visit the event page: http://www.allianceforcommunitydevelopment.com/programs/entrepreneurship-funding/2014-bacc-conference/
To register for this event, please visit Eventbrite: https://www.eventbrite.com/e/2014-bacc-conference-investing-in-an-inclusive-economy-tickets-10676532797
About the Alliance for Community Development
The Alliance for Community Development is a nonprofit 501(c) (3) organization with the mission of increasing access to capital for companies with diverse leadership. The Alliance serves startup founders and business owners by providing expert business knowledge, growth strategies, and connections to financial and other resources through dynamic forums, conferences and programs. We welcome all entrepreneurs, financial professionals, and business community to our programs.
For more information about the Alliance for Community Development, visit: http://www.allianceforcommunitydevelopment.com
About DRÆM VENTURES
DRÆM VENTURES is a pre-seed venture capital fund dedicated to finding, founding, and funding the next generation of socially, environmentally, and technologically conscious businesses. DRÆM VENTURES empowers entrepreneurs by making $5,000 investments in great young ideas and people. In addition to an impact microinvestment, DRÆM VENTURES can incorporate your start up and connect you to a support network of potential advisors, mentors, directors, consultants, lawyers, accountants, publicists, developers, suppliers, interns, and team members to help manifest your dream.
For additional information about DRÆM VENTURES, visit: http://www.draemventures.com/
SOURCE Alliance for Community Development, DRÆM VENTURES
Contact: Darlene Crane