Posted by on January 25th, 2011

SAN FRANCISCO, CA—Hub Bay Area, the fast growing & innovative company dedicated to building social enterprises and SOCAP, the ground breaking platform fostering education, investment and action towards social impact have announced their new CEO, Cory Smith and Board President, Penelope Douglas. “Hub Bay Area and SOCAP bring together the best of the social capital market and entrepreneurship. Now they have two world class talents joining to unlock the vast opportunities that exist,” says Tim Freundlich, Co-Founder of Hub Bay Area.

Cory Smith is an experienced entrepreneur who excels at identifying and developing scaleable business opportunities, creating mutually beneficial partnerships and building successful companies. He has deep knowledge in the digital media space and using it as a catalyst for education, cultural understanding and social action. Most notably, he was Co-Founder and CEO of Webcast Solutions, a company designed to help global companies communicate with audiences via the Internet, which was acquired by StarMedia Networks. He has a history of dedication in building organizations and solutions that are financially viable and can be replicated and enrich the world.

“Cory is the exact person we need as our CEO at this juncture. He has a history of scaling companies effectively and building coherent platforms”, says Kevin Jones, Co-Founder of Hub Bay Area and SOCAP.

Penelope Douglas has a long history of being a leader of social change. Penelope founded Pacific Community Ventures in 1998 with the pioneering vision to invest human,intellectual and financial capital in small businesses to create opportunity and shared prosperity for economically underserved communities. Under Penelope’s leadership, the innovative nonprofit has helped to create more than 5,000 jobs for lower-income workers at 250 small businesses throughout California. She is also a partner in Pacific Community Ventures LLC, with $60 million of committed capital. Penelope has also been deeply involved in community-based nonprofits, having served as a board member and Chair for San Francisco’s Larkin Street Youth Center, for the Friends of the Urban Forest and as founding Chair of Juma Ventures.

Kevin Jones on the addition of Penelope Douglas, “I am thrilled that Penelope Douglass is coming as board president with her unparalleled track record and deep domain expertise. She has the wisdom to guide us toward our long future where we mix impact with financial return.”

About Hub Bay Area:

Hub Bay Area is a place where for profit and non profit social change ideas build and scale into viable enterprises that address the complex problems we face, from poverty to climate change, for people and planet. Change agents find the support they need at the Hub to reach their goals faster, surrounded by a community that makes everyone smarter and more effective. From seed funding to professional services, from mentors to peers who understand what they are doing, the Hub is a platform that helps make it happen. It’s where change goes to work. Started in 2009, Hub Bay Area now offers two locations for more than 800 members in the SOMA district of San Francisco and downtown Berkeley. It is part of a global network of 25 Hubs, including Atlanta, Sao Paulo, London, Mumbai, Cairo and Tel Aviv, among many others.

About SOCAP:

SOCAP is a multi-platform organization dedicated to the flow of capital towards social good. Our event series connects leading global innovators – investors, foundations, institutions and social entrepreneurs – to build this market at the intersection of money and meaning.

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