VilCap Communities empowers communities across the world to identify the problems that need solving, and in turn enables entrepreneurs in those communities to solve these challenges in a local, contextual way. The VilCap Communities program launched with events in Salt Lake City (for US communities) and Amsterdam (emerging market communities) in early 2016.
The pioneer communities that gathered for the US launch heard from leaders like AOL co-founder Steve Case, as well as their peers, about the importance of spreading the startup wealth beyond a few cities. Each of the 26 pioneer communities (16 in the United States and 10 in emerging markets) have committed to develop a problem thesis that their community is well-positioned to address; source local entrepreneurs with unique insights into the problem; and run venture development programs to train these entrepreneurs.
Together, the 26 communities have pre-committed over $1 million to invest in local companies. Crucially, they will invest using Village Capital’s core innovation, peer selection, which lets entrepreneurs decide which of their peers gets funded, and has made the process of getting resources to build a company more open, transparent, and fair. Read more about VilCap Communities in our report here.
In the news
The Huffington Post: The Secret to Spreading the Startup Wealth in Emerging Global Markets
The Huffington Post: Spreading the Startup Wealth to Communities Across the US
Our learnings on Medium: Closing the Pioneer Gap in Emerging Markets
How entrepreneurs succeed in VilCap Communities Programs:
•92% of ventures feel more prepared for the investment diligence process (8% feel “as prepared”)
•92% connected with a meaningful mentor, 80% connected with a potential partner, 64% connected with a potential investor
•85.71% thought peer rank was helpful to their businesses or felt neutral about the process