Call it social entrepreneurship, impact investing, or urban ventures—Clara Brenner and her friend Julie Lein were sold on the idea after they each did a summer stint with a community-based enterprise before earning their MBAs in 2012. “We were just really impressed by the ability of these startups to have a huge positive impact on their communities,” says Brenner. One of those growing ventures was Oakland, CA-basedRevolution Foods, a provider of healthy meals to schoolchildren. Brenner and Lein were so sold on local businesses with a public mission that they did a quantitative research study on such enterprises. They found a big need to fill. “These companies are less than one-half as likely to secure seed funding as more traditional entrepreneurs,” Brenner says. To try to change that, the two friends founded the non-profit San Francisco, CA-based incubator Tumml right after they graduated from MIT’s Sloan School of Management. They describe Tumml as a venture accelerator for startup founders who want to solve urban problems that local officials often can’t address themselves. Continue reading on Xconomy.
Brenner and Lein helping startups impact communities with Tumml
September 8, 2014