Local investors gathering to support innovative startups in Greenville.
The Upstate Upstarts program has launched a community investment fund in Greenville, enabling local investors to support early-stage startups through charitable donations. This initiative highlights innovative companies focused on growth and sustainability, with partnerships from organizations like Venture Carolina and Abundance Capital. Contributions to the fund are tax-deductible, fostering a communal effort to enhance the local economy. The program is set to empower entrepreneurs and create sustainable job opportunities in the Upstate region.
There’s bustling excitement in Greenville, where the Upstate Upstarts program is shaking things up in the entrepreneurial scene. This initiative is all about supporting high-growth, early-stage companies in the Upstate, and now it has launched a fantastic new opportunity for local investors! The community can now contribute to the growth of trailblazing startups through charitable donations.
At the heart of this initiative lies the Upstate Upstarts List, showcasing 100 innovative companies that are making waves in developing cutting-edge technologies and businesses. Think of tech-forward ventures, vibrant e-commerce platforms, and life sciences breakthroughs — these companies are on a mission to transform their fields!
The Upstate Upstarts program is backed by reputable partners including Venture Carolina, VentureSouth, and the Appalachian Regional Commission. Together, these organizations are paving the way for local entrepreneurs to thrive. To further bolster these budding companies, an investment fund has been set up, aptly named the Upstate Upstarts Catalytic Fund.
Now here’s the twist: when you invest through this fund, you’re not earning returns for yourself. Instead, any profits generated can be reinvested back into supporting the local economy. This nonprofit venture philanthropy model, coordinated in partnership with Abundance Capital, allows generous donors to actively participate in the future of their community while enhancing their economic landscape.
Contributions made to the Catalytic Fund are actually tax-deductible charitable donations. Donors have the exciting opportunity to contribute to a donor-advised fund hosted by Abundance, which in turn will invest in companies featured on the Upstate Upstarts List. Isn’t that an inspiring way to make a difference?
Anyone wishing to make a charitable donation can jump in and support these local entrepreneurs. However, if you’re looking to invest and be part of the growth journey for these high-potential companies, you’ll need to meet the SEC accreditation requirements. The companies on the Upstate Upstarts List are criteria-based; they must be situated in the Upstate, show high growth potential, and have at least $150,000 in annual recurring revenue or a minimum of eight employees.
Abundance Capital is on the lookout to invest in businesses that contribute positively to their economy, environment, and community. The Upstate Upstarts initiative is refreshing, especially since it not only aims to strengthen the local entrepreneurial ecosystem but also supports innovations across various sectors, including software, hardware, tech-enabled services, and more. Just to note, retail, hospitality, professional services, and real estate ventures won’t be part of the Upstate Upstarts List.
In addition to this fund, there’s another initiative called the UP Employment Initiative, managed by the Barbara Stone Foundation, which aims to create job opportunities for individuals with disabilities in the Upstate. Together, these projects showcase a proactive approach to engaging with the community and fostering inclusive growth.
Curious about how you can be part of this exciting venture? You can find all the details on how to contribute or invest at abundancecap.org/uu-fund and upstateupstarts.com. Whether you’re a budding philanthropist or a seasoned investor, there’s a place for you in supporting these innovative startups!
Embrace the opportunity to take part in the entrepreneurial renaissance happening right in our backyard. With the Upstate Upstarts program, every donation counts toward creating a thriving ecosystem that helps transform visions into reality!
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