The Exelon Foundation and Exelon Corp. launched a $20 million climate change investment initiative to fund startups in Atlantic City, Baltimore, Chicago, Philadelphia, Washington, D.C., and Wilmington, Del.
The $20 million Climate Change Investment Initiative (2c2i) will fund startups working on new technologies to reduce greenhouse gas emissions and climate change.
Exelon will utlize the innovative approach of impact investing to generate a measurable, beneficial impact on climate change.
Also, Exelon will match the grant with up to $10 million in pro-bono services, including mentoring entrepreneurs on ways to access other sources of capital, structure business plans, allocate financial resources and meet regulatory requirements.
The selection process will evalutate candidates focused on a specific criteria, particularly minority- and women-owned businesses. Applications for the Exelon Climate Change Investment Initiative can be submitted online at their website, with October 25 as the submission deadline. Read the Entire Article
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Senay Ataselim-Yilmaz, Chief Operating Officer, Turkish Philanthropy Funds, writes that philanthropy often solves the very problems that stems from market failure. Some social issues, however, cannot be tackled by questioning the return on investment.