Johns Hopkins Social Innovation Lab selects 10 projects for accelerator program
The Johns Hopkins Social Innovation Lab has announced its 2020–21 Accelerator cohort. The 10 teams in the cohort introduced themselves during a virtual kickoff event on Dec. 3 that brought together SIL alumni, advisers, and supporters. Over the next five months, the teams will work together while receiving business and financial support, including funding, advising, technical assistance, and training through a rigorous customer-discovery curriculum geared toward maximizing community impact and sustainability. The teams also benefit from coaching with design strategists-in-residence and strategic consulting from the Johns Hopkins University Carey Business School's Community Consulting Lab.
SIL received 63 applications this year and is open to Baltimore-area residents and Johns Hopkins University students, as well as faculty and staff members seeking support for their social venture. Nearly two-thirds of the applications were from entrepreneurs not affiliated with Johns Hopkins University.
SIL's accelerator has supported 93 ventures overall that have raised $67 million in funding. Of these ventures, 55% remain operational, with more than 73% still active in Baltimore. These active ventures provide full-time employment to more than 260 people. In this year's cohort, 90% of the ventures are led by entrepreneurs of color, with 80% led or co-led by female founders.