3 Things We Learned in 2013

by: | Dec 20, 2013

It’s been quite the year at New Media Ventures. We are continuously learning a ton about what it takes to finance progressive innovation, and we’re committed to sharing more about what we are learning in 2014.

So, to kick things off, here goes:

To date, nonprofits have only received 23% of capital raised through NMV. We decided that was unacceptable.

We launched the NMV Innovation Fund this year as an experiment of sorts– to see if small grants to early stage nonprofits can begin to address this financing gap.

We’ve been overwhelmed by the quality of applicants– it turns out the gap at the early stages could be bigger than we thought. We are proud to be announcing our final slate of grant recipients in early January 2014.

Investors and entrepreneurs have common goals, and a lot to learn from one another, yet often only meet over a financial transaction. We think that needs to change.

50 participants joined the inaugural NMV Summit to nerd out on discussions like “Impact Angel Investment Vehicles” to “Exit Strategies for Progressive Companies.” It was awesome.

This is a big one. When New Media Ventures first started, we thought that the key piece missing was the financing of progressive ventures.

Yet financing doesn’t happen in a vacuum — there is a lot of additional communication and education work to do to build a market strong enough for these ventures to thrive.

Financing often happens behind closed doors, and it can be confusing not only for entrepreneurs, but for aspiring funders and investors as well. And if financing is confusing, we can’t grow the market. Which brings us to our commitment to share more of what we’re learning.

Not only did we relaunch the NMV website and blog (BIG shoutout to our friends at Start Somewhere), and hold a four part “State of the Field” webinar series, we also hit the road to share with other funders, investors and entrepreneurs what we are learning about financing this nascent progressive technology sector. A few highlights:
  • Christie’s keynote on Lean Funding at the Lean Startup conference.
  • Christie’s talk, “The Amplification Engine for Media that Matters” at Media Impact Funders
  • Lindsey’s Netroots Nation training, Startup 101.
  • So there you have it. Here’s to another year of learning — and doing! — at New Media Ventures.