SEED SPOT

Incubating Ventures With Social Impact

aka SEED SPOT   |   Phoenix, AZ   |  www.seedspot.org

Mission

To educate, accelerate, and invest in entrepreneurs who are creating solutions to social problems.

Ruling year info

2014

CEO

Zach Leverenz

Main address

515 E Grant Street

Phoenix, AZ 85004 USA

Show more contact info

EIN

45-4098436

NTEE code info

Economic Development (S30)

Youth Development Programs (O50)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Communication

Blog

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

In the midst of the COVID-19 pandemic and unreliable economic conditions, many Americans are turning to entrepreneurship out of necessity rather than choice. SEED SPOT provides solutions to entrepreneurs nationally looking for early-stage technical assistance, access to networks and mentorship, and opportunities for raising capital. No idea is too small - SEED SPOT meets innovators where they are at and helps them to realize their dreams and see themselves as what has been traditionally an inaccessible identity - “entrepreneur.” Further, capital, in all forms (debt, equity, crowdfunding), is a vital part of starting a new venture or scaling an existing venture. Access to capital is the largest need for entrepreneurs. Underrepresented entrepreneurs, especially founders of color, face exceptionally high barriers when attempting to access capital. These barriers have prevented innovative startups from accessing the capital they need to stimulate growth and create jobs.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

2-Day Launch Camp

The 2-Day Launch Camp is one of SEED SPOT’s flagship programs. Over 650 entrepreneurs have participated in a 2DLC since 2018. The 2-Day Launch Camp is supplemented with customized curriculum, content experts, and mentorship that is industry-specific and aligned with the United Nations Sustainable Development Goals to give entrepreneurs a unique opportunity to build and launch ventures focused on equality and inclusion; sustainability and smart cities; health and wellness; education; and, civic engagement and policy.

SEED SPOT staff are equipped to customize the 2DLC experience and tailor each program to the needs of these emphases, while connecting entrepreneurs with a cohort of like-minded peers and mentors with expertise in each industry. Using an agile framework, SEED SPOT constantly reflects on the mechanics of implementation, program content, and participant feedback to evaluate strengths and opportunities for improvement. Each subsequent 2DLC is improved upon by doubling down on successful strategies that reduce barriers and by enhancing areas of weakness.

Population(s) Served
Adults

SEED SPOT’s Impact Accelerator program delivers 6 weeks of acceleration via education, mentorship, hands-on tactical feedback from the SEED SPOT team, investors, mentors, and network connections. The outcome of the accelerator is to help growing and scaling businesses raise capital, increase revenue, and create jobs.

Alumni of the Impact Accelerator pitch at a culminating Accredited Investor Event, and have the opportunity to apply to pitch at future events. “Venture Thursdays” are embedded throughout the Impact Accelerator and prepare entrepreneurs to successfully pitch their ventures at the Accredited Investor Event. Venture Thursdays provide entrepreneurs a safe environment to practice their pitches and receive constructive and helpful feedback.

Population(s) Served
Adults
Adults

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of jobs created and maintained

This metric is no longer tracked.
Totals By Year
Population(s) Served

Adults

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Number of clients served

This metric is no longer tracked.
Totals By Year
Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Percent of total constituency that is underrepresented

This metric is no longer tracked.
Totals By Year
Type of Metric

Output - describing our activities and reach

Direction of Success

Holding steady

Additional revenue and wages generated attributable to the organization's efforts

This metric is no longer tracked.
Totals By Year
Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Capital raised by entrepreneurs

This metric is no longer tracked.
Totals By Year
Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

SEED SPOT’s mission is to educate, accelerate, and invest in entrepreneurs who are creating solutions to social problems. Since its founding in 2012, SEED SPOT has served 1,848 unique entrepreneurs - 54% are women and 72% are underrepresented founders (women entrepreneurs, entrepreneurs of color, LGBTQ and gender-fluid entrepreneurs, previously-incarcerated entrepreneurs, entrepreneurs of varying abilities, first-generation citizen or immigrant entrepreneurs, and entrepreneurs with military status (veteran, military spouse, etc.). These 1,848 entrepreneurs have gone on to generate $161M in revenue, create 3,217 jobs, and impact the lives of 10M people through new products, services, and technologies. These outcomes demonstrate SEED SPOT’s role in catalyzing community-led innovation and empowering underrepresented groups to work toward a radically new future.

SEED SPOT aims to achieve even greater economic and social impact by scaling support and reducing barriers for women and minority entrepreneurs across the nation who are creating solutions to our nation’s biggest challenges.

Our core strategic pillars are:
+ Deliver best-in-class/cutting edge programs for social entrepreneurship.
+ Ensure long-term financial viability and sustainability.
+ Develop mission-aligned relationships.
+ Become the go-to resource for individuals that want to solve problems in a sustainable way.
+ Build world class organizational infrastructure and capacity.

SEED SPOT is an internationally renowned incubator and is ranked as one of the "Top 3 Social Impact Incubators" in the United States by Cisco and UBI Global, and was also identified as one of the “Top 20 Accelerators in the World” by Gust. SEED SPOT also holds an Emmy for its partnership with Univision serving Latino entrepreneurs.

Since SEED SPOT’s founding, a core focus and commitment of the organization has been to advance equitable and inclusive entrepreneurship. SEED SPOT has notable accomplishments in this area that highlight the commitment to serving underrepresented founders:
- In 2020, .ORG Impact Awards named SEED SPOT as a top 5 finalist in the “Championing Equality, Equity, and Inclusion.”
- The Ewing Marion Kauffman Foundation funded SEED SPOT to develop a culturally responsive entrepreneurship curriculum, marketing, and an impact measurement framework to support more diverse founders.
- The Clark Foundation and the Ewing Marion Kauffman Foundation funded SEED SPOT to build partnerships with groups serving diverse founders that did not have access to best-in-class entrepreneurship programming. These partnerships include groups, such as Black Girl Ventures, Association for Women in Science, Military Family Advisory Network, and other organizations to support specific populations access entrepreneurship.
- In 2016, Univision Arizona and SEED SPOT partnered to create Vendeme Tu Seuno, an entrepreneurship bootcamp, pitch event, and web-mini series to empower LatinX entrepreneurs. In 2016, this programming won an Emmy Award.
- The JP Morgan Chase Foundation has been a multi-year funding partner of SEED SPOT’s work in Arizona to support Low-to-moderate income entrepreneurs and traditionally underserved entrepreneurs.
- In 2019 and 2020, the Santander Foundation funded SEED SPOT’s work in Maricopa County, Arizona to support LMI entrepreneurs, entrepreneurs of color, and traditionally underserved entrepreneurs.

Since its founding in 2012, SEED SPOT has served 1,848 unique entrepreneurs - 54% are women and 72% are underrepresented founders (women entrepreneurs, entrepreneurs of color, LGBTQ and gender-fluid entrepreneurs, previously-incarcerated entrepreneurs, entrepreneurs of varying abilities, first-generation citizen or immigrant entrepreneurs, and entrepreneurs with military status (veteran, military spouse, etc.). These 1,848 entrepreneurs have gone on to generate $161M in revenue, create 3,217 jobs, and impact the lives of 10M people through new products, services, and technologies.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • How is your organization collecting feedback from the people you serve?

    Electronic surveys (by email, tablet, etc.), Focus groups or interviews (by phone or in person),

  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve,

  • With whom is the organization sharing feedback?

  • Which of the following feedback practices does your organization routinely carry out?

  • What challenges does the organization face when collecting feedback?

Financials

SEED SPOT
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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lock

Connect with nonprofit leaders

Subscribe

Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

SEED SPOT

Board of directors
as of 11/08/2022
SOURCE: Self-reported by organization
Board chair

Susan Penfield

Booz Allen Hamilton

Term: 2017 - 2020

Michael Ellenby

Venture Builder, Coplex

Brent Papek

Ernst & Young

Courtney Klein

Edmund Hillary Fellowship

Patrick Armstrong

JDA Investments

Jess Bissey

Morrison and Foerster, LLP

Russell Goldstein

U.S. Trust, Bank of America Private Wealth Management

Sheila Herrling

Beeck Center for Social Innovation

Erin O’Shea

CFO, SEED SPOT

Susan Penfield

Booz Allen Hamilton

Michael Farber

Ratio Companies, LLC

Molly Matthews

Job-IQ

Rashad Moore

G11 Technology Partners

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 11/8/2022

Who works and leads organizations that serve our diverse communities? GuideStar partnered on this section with CHANGE Philanthropy and Equity in the Center.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male, Not transgender (cisgender)
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

No data

Gender identity

No data

 

No data

Sexual orientation

No data

Disability

No data