DC’s Conscious Venture Lab Helps Entrepreneurs Put Purpose Before Profit

February 7, 2014

5:47 pm

What would happen if businesses around the world started caring as much about people as they do about profit? This is the question at the core of Conscious Venture Lab’s mission.

Conscious Venture Lab is an early-stage business accelerator that works with entrepreneurs to build companies with societal purpose. Their goal is to develop and support businesses that embrace the concept of conscious capitalism. Besides guiding entrepreneurs and startups, they also pair entrepreneurs with like-minded investors who share the same vision and offer assistance to established businesses looking to transform their business models.

The primary ideal they look for in startups and mentors is a strong focus on conscious capitalism. Conscious capitalism puts the responsibility on business owners to be aware of the effects that their businesses could have on humans and the environment with the goal of moving toward a values-based economy. This includes implementing practices that are beneficial to human society and the environment.

This past Tuesday, Conscious Venture Lab, in partnership with The Maryland Center for Entrepreneurship and the Howard County Economic Development Authority, held an event at The Motley Fool in Alexandria, VA as an opportunity for entrepreneurs to network with mentors. There was also a panel led by Conscious Venture Lab executive director, Jeffrey Cherry followed by brief presentations by the first batch of startups in the accelerator program.

Jeffrey Cherry believes “capitalism has lost its way” and believes that it’s the responsibility of entrepreneurs to change the course of capitalism into “something that is good for all of society.” 

Below is the first class of startups in the accelerator: 

  1. WominMedia: A woman-owned media, marketing and brand management company, that connects women entrepreneurs and helps them engage their clients in meaningful ways
  2. DoGoodBuyUs: An e-commerce platform of charity-made products that allows customers to “do good” by shopping
  3. Spend Consciously: A mobile application that empowers citizens to be more educated in their buying decisions
  4. Just Good: A marketplace that connects conscious products with consumers and influences buying behaviors to support a vision for a better world
  5. SelfSpark: “Life Hacking” events that use science and technology to make your life happier, healthier, and more productive
  6. Making Change: A nonprofit that develops and provides financial education programs that empower individuals to take control of their financial past, present, and future.  

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Kristin is an aspiring entrepreneur who is enthusiastically navigating her way through the DC startup space. She has an unending passion for learning and is never satisfied with the status quo. During the day she is an ops, biz dev, and marketing maven for Fission Strategy

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