The London School of Economics and Political Science (LSE) announced the launch of 100x Impact Accelerator, a £50M (approximately €56.68M) initiative to shape a new generation of “social unicorns”. The accelerator launched its first call for applications on Monday, January 9.
100x aims to form a new ecosystem of finance, talent, and access that enables ‘high-potential’ social entrepreneurs and non-profits to have a beneficial influence on society on a scale of billions.
Professor Stephan Chambers, Director of the Marshall Institute at LSE, says, “A clear understanding of the best approaches for social enterprises and charities to scale impact just doesn’t exist the way it does for private businesses to scale profits. That severely curtails the impact these organisations could have, and the world is worse off for it.”
“100x Impact Accelerator aims to plug this gap. By partnering with successful social unicorn founders and providing meaningful support to a large number of high potential impact-driven organisations, we aim to highlight ‘what works’ for social enterprises, so more of them experience real success,” adds Chambers.