RADIUS launches first cohort of “Radical Ventures”
Dec 11, 2013
RADIUS, the Beedie School of Business’ social innovation lab and venture incubator, has launched its first cohort of RADIUS Ventures.
Focused specifically on “Radical Ventures” with a strong mandate to create social and environmental wellbeing, RADIUS applies business innovation and entrepreneurship to address challenging social and environmental problems, and is partially funded by Vancity Credit Union.
The Radical Ventures in the first cohort focus on the local food distribution and sustainable transportation sectors, and include corporations, cooperatives, and a revenue-generating non-profit.
“Entrepreneurship can have a hugely positive impact on human and environmental well-being,” says Donovan Woollard, Director of RADIUS Ventures. “RADIUS Ventures demonstrates the leadership of the Beedie School and Vancity in cultivating a social venture ecosystem and actively supporting leading ventures within it.”
While some of the participating ventures are pre-revenue and others are in a rapid growth stage, all offer a product or service that directly promotes ecological health, societal wellbeing, and economic value.
The cohort is comprised of Localize, a local product rating and signage system for grocery store shelves; go2gether, a carpooling system that makes it easy, safe, and convenient for commuters to share trips; City Farms Co-op, a collection of small farmers in the Lower Mainland using IT solutions and goods distribution to access mainstream markets; Shift Delivery, which is revolutionizing urban delivery with specialized human- and electric-powered tricycles; and PEDAL, a growing non-profit providing low cost bicycle repair and education services.
“Our venture is an example of the great support that SFU provides to entrepreneurs,” says go2gether CEO and co-founder Alice Park. “go2gether started as a class project, participated in the Social Entrepreneurship Accelerator, was incubated at SFU’s Venture Connection, and is now working with RADIUS Ventures to raise funds and serve our first corporate clients.”
RADIUS Ventures will work with the five ventures through a six-month accelerator program to refine their offerings, optimize their operations, and get them ready for growth and investment.
Through an immersion in design thinking, lean start-up methodology, and hands on mentorship and collaboration, RADIUS and its Radical Ventures will collaborate to achieve specific shared outcomes, including fundraising, new product launch, and positioning for rapid growth.
For more information on RADIUS Ventures, visit www.radiussfu.com