Seed Spot is an amazing organization based in Phoenix, AZ. Their core mission is to help social entrepreneurs bring their ideas to life. They provide assistance in everything from networking, product development, and raising capital for a product or idea. Please follow them and spread the word about Seed Spot and the work they are doing with social entrepreneurs. Twitter Facebook
Lets first talk about SEED SPOT and its origin. How did the idea come about?
So all someone needs when they walk into SEED SPOT is an idea? An idea that will support society in a positive way? From there, SEED SPOT approves of this idea and helps him/her gain capital and structure to build the company?
Tell us about the process of getting the B-Corp legislation passed. How difficult was it to accomplish and do all SEED SPOT ventures now carry the B-CORP title?
The Benefit Corporation legislation was passed in 2013 but will not take effect in Arizona until January 2015. Over the next 6 months, we will host training’s to help people understand the process of becoming a Benefit Corporation. We are incredibly proud to be among the 24 states that have now adopted the legislation. It is a growing national movement for sure!
How does SEED SPOT and KIVA work together?
We have a really incredible partnership with KIVA. We are able to authorize loans to SEED SPOT entrepreneurs up to $10,000 at zero percent interest.
What do you look for in a successful applicant, what can put a applicant over the edge and be accepted at SEED SPOT?
Has SEED SPOT developed in what you thought it would be or has it acceded your expectations?
In many ways, it has far exceeded my expectations. Namely because of the work of our Alumni and everything that they continue to do to push their ventures forward. Being an entrepreneur is hard. I get inspired when a venture calls at 10pm on a Sunday night and wants to run through a new idea or talk through a challenging problem. The fact that they are grinding it out at 10pm on a Sunday is what wakes me up at 5am on Monday morning to continue supporting them.
Is there any thought to expanding SEED SPOT to different cities in the future?
You know, we have fielded interest from 12 cities across the country. Some more serious than others. This summer, we are considering what an expansion model might look like. We are certainly open to the idea of providing our model to other cities that can benefit from it. We have built an incredible community in Phoenix and the idea of helping other cities do the same is super inspiring.