Cooperatives hold incredible promise to build wealth in marginalized communities and reduce the racial wealth gap but myths and misconceptions about alternative ownership models are common. Many lenders and investors are skeptical of cooperatively-owned businesses or find them too “risky” to qualify for investment. This episode, recorded live at a SOCAP 365 event in Baltimore, is a panel discussion about the promise of the cooperative model to create social and economic change, including frank observations about the challenges that often prevent these businesses from securing investment or achieving success at scale.
Accelerating Financial Services That Work for Everyone on SOCAP’s Money + Meaning Podcast Episode 2.13
How can innovative financial technologies help marginalized and underserved communities manage their personal finances and build wealth over time? In this episode of Money and Meaning, host Alex Kravitz talks to Marcia Chong Rosado of Village Capital, an accelerator for social enterprises, and Ramona Ortega, Founder of My Money My Future, a platform providing personal financial guidance for millennials of color who have been overlooked by traditional financial institutions.
All Voices Need to Be Heard: Unlikely Allies at MIT and Gates Foundation Discuss Democracy and Community Engagement – SOCAP’s Money + Meaning Podcast
On prior episodes of Money + Meaning, we have explored ways innovative ideas generated by unlikely allies can create change across institutions and communities. But what about the systemic level? Could conversations between people of different perspectives and backgrounds lead to more equitable economies or systems of government? In this episode, host Lindsay Smalling has a conversation that addresses these questions with unlikely allies who are working on civic engagement and democratic initiatives from two very different institutions: The Massachusetts Institute of Technology (MIT) and The Bill & Melinda Gates Foundation.
Mitch Kapor is fond of saying, “genius is evenly distributed by ZIP Code, but opportunity is not.” So, in 2011 Mitch and his wife, Freada Kapor Klein, set out to tackle this issue by investing in seed stage tech startups closing gaps of access, opportunity, or outcome for low-income communities and communities of color in the US. After more than 100 investments over eight years, Kapor Capital has not only been been able to generate gap-closing social impact, but has done so while achieving financial returns in the top quartile among VC funds of similar size. In this episode, Mitch shares lessons learned from his journey into impact investing and tries to dispel harmful biases still embedded in the VC community.
Spreading Light: An Interview with Seungah Jeong and John Salzinger of MPOWERD on SOCAP’s Money + Meaning Podcast
MPOWERD is an innovative solar light manufacturer recently named one as one of the Real Leaders 100 most impactful companies in the world. Their mission is to sustainably provide clean, safe, and affordable solar lighting to everyone. In this episode of Money + Meaning, host Alex Kravitz interviews Seungah Jeong and John Salzinger about their own journeys to impact and the inspiring ways MPOWERD products are helping people around the globe.