The Yale School of Management — The Goldman Sachs Foundation Partnership on Nonprofit Ventures has announced the eight winners of the third annual National Business Plan Competition for Nonprofit Organizations.
Each of the winning organizations is in the planning or early stages of operating an income-generating business venture and, in addition to cash awards — $100,000 to each of the grand-prize winners and $25,000 to each of the runners-up — will receive hundreds of hours of technical business planning consultation.
The four grand-prize winners are EcoLogic Finance in Cambridge, Massachusetts; First Book, in Washington, D.C.; New York City-based NPower NY; and MissionFish (Points of Light Foundation) in Washington, D.C.
The four runners-up are the Caroline Center in Baltimore; Ecotrust in Portland, Oregon; the Boston-based Housing Partnership Network; and the Wai'anae Community Re-Development Corporation in Wai'anae, Hawaii.
"In addition to the entrants of the current year, it was particularly gratifying to hear reports from previous award recipients, whose ventures are progressing nicely," said Stanley J. Garstka, deputy dean of the Yale School of Management and co-faculty director of the Partnership. "They are now seasoned entrepreneurs, balancing running for-profit ventures with the goals and objectives of their parent nonprofits, confident they could develop other new ventures if called upon. Indeed, we are developing a new breed of social entrepreneurs."