Tuesday, April 27, 2010

Venture Philanthropy

A trend in philanthropy that started several years ago when the wealthy coming out of Silicon Valley brought their entrepreneurial strategies to charity work—Venture Philanthropy Partners being one of the first firms—has taken hold in Sacramento, noted in a Bob Shallit column.

An excerpt.

“Venture capitalist Jack Crawford Jr. has two business passions: Helping startups become profitable and making nonprofits more efficient.

“Now he's combining those interests in what may be a novel program: putting University of the Pacific business-school students to work at local startups and nonprofits.

"I've never seen anything like this before. Not just in Sacramento, but anywhere across the country," says Crawford, who heads Velocity Venture Capital and a year-old group, Social Venture Philanthropy of Sacramento.

“What's unusual is the use of student teams working in two areas that often are considered worlds apart.

“Crawford, who serves on the board of UOP's Global Center for Social Entrepreneurship, says 20 to 30 students will be given unpaid part-time assignments at various firms and nonprofits, starting this fall.”