IVN identified gaps in business knowledge, best management practices and entrepreneurship approaches in many Israeli nonprofit organizations. In addition, as a result of the 2008 global economic crisis and its effect on the philanthropic arena in Israel, IVN identified the need to help nonprofit organizations reduce their dependency on philanthropy and become more self sustainable. In response to these two challenges, IVN initiated our Social Venture Program.
IVN’s Social Venture Program, the next generation of our highly successful Social Entrepreneur Fellowship Program and IVN’s Economic Reconstruction Initiative (IERI), is a model of selection, mentoring, capacity building and financial support of high-potential ventures. It is implemented by our volunteering mentors and our professional team, in collaboration with leading partners from the private, public and nonprofit sectors. This 2-year program enables social ventures to become self-sustaining and transform into income generating, social enterprises. Together we develop strategic models which can be replicated, allowing the venture and its impact to be felt and scaled throughout the country.
What is a social venture?
As a result of today’s economic realities, the gap between traditional nonprofits organizations to traditional for-profits businesses has been slowly filled by a range of hybrid ventures. These hybrids include (i) nonprofit organizations with income generating activities and (ii) social businesses – social mission driven businesses whose revenues are channeled back into the business to achieve their social purpose.