Published On: Wed, Apr 8th, 2020

New Media Ventures creates rapid-response account for domestic startups in a COVID-19 era

The decade-old New Media Ventures investment fund, that backs startup businesses and non-profits building technologies to urge entrance to government, pronounced it is lifting a “Crisis Innovation Fund” aiming to yield relating grants for startups advancing democracy and centering marginalized communities.

The account will offer grants and investments of between $25,000 and $250,000 to entrepreneurs building businesses and tech-enabled services focused on on-going causes, a account said.

“COVID-19 will be one of a biggest economic, political, and informative branch points of a lifetime — though what a destiny binds depends wholly on a common actions in a entrance months and years,” pronounced Taren Stinebrickner-Kauffman, President, New Media Ventures, in a statement. “This is a impulse of good doubt and fear, though also one of good altruism and entrepreneurialism. Our new Crisis Innovation Fund will apparatus a many earnest COVID-19-relevant ideas that emerge from a 2020 Open Call.”

Focused on founders with approach knowledge of a problems confronting people of color, LGBTQ, bad and exposed communities, as good as companies and organizations that are “shifting power, building movements and sparking county engagement,” a NMV is opening adult a rolling routine for funding.

The annual open call to yield seed appropriation for organizations has formerly resulted in $50 million in commitments over a organization’s ten-year history. Previous investments from a investor’s 85 clever register of companies embody nonprofit organizations and for-profit companies like: ActBlue Civics, TurboVote, Upworthy, Attentive.ly (acquired by Blackbaud), Crowdtangle (acquired by Facebook), and SumOfUs.

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