Why don't we work with all high-growth entrepreneurs?
Entrepreneurs are everywhere. Where there are people and problems that need to be solved, you will find entrepreneurs. Whether solving simple problems for themselves or large-scale ones, humans are driven by both opportunity and necessity to address pain points and feel the satisfaction of creating a solution where one previously didn’t exist.
Because International started when founder Kenton Lee recognized a basic but important need faced by children impacted by poverty—shoes. He was encouraged by the approaches individuals were taking to help meet these needs, like donating used shoes, but he also saw the potential to solve the problem in a new, innovative way.
In many developed countries, so much innovation and technology is being focused on making already comfortable lives a little bit easier. What if the same level of innovation was focused on improving the lives of those around the world who need it the most?
These simple beliefs and questions have been a guiding force for Because International over the 15+ years since our founding. After distributing hundreds of thousands of pairs of The Shoe That Grows to families in 100+ countries, we started meeting entrepreneurs in these areas with their own concepts for innovative solutions—sparking our idea for the Because Accelerator. Since formalizing the business support program, we’ve worked with more than 110 entrepreneurs who have gone on to grow their businesses, create thousands of jobs and expand their impact.
However, we don’t work with just any entrepreneur or business. Our mission is to use impact products and the power of business to alleviate poverty, and we believe a certain type of entrepreneur is uniquely positioned to create this type of change—those who act based on opportunity, who have a big vision, and who have the potential to create jobs for communities around the world.
The Because Accelerator works with entrepreneurs who act based on opportunity
An entrepreneur is a person who:
Identifies an important problem (aka “business opportunity”).
Develops a solution that others are willing to pay for.
Takes on the risk of making investments and sacrifices without certainty of return.
Visit an area impacted by poverty and there is no shortage of problems that need solving. Jobs also tend to be lacking, creating an environment of short-term solutions where many run micro businesses to get by.
It’s unrealistic to expect each of these micro-business owners to have the capacity to innovate and grow their businesses in a way that can truly solve problems at scale and create jobs for others. We seek entrepreneurs who go beyond getting by—those who act based on long-term opportunities rather than short-term needs. Because Accelerator alumni are characterized by their ability to think big, make investments and take risks.
The Because Accelerator works with entrepreneurs who have a big vision
The world needs entrepreneurs who not only have businesses that can grow but who also want to grow.
Although most business owners would say they are working to increase sales and grow, many do not have a larger vision or the desire to go beyond that. Business growth comes with new problems to solve, stress, having to manage employees, change, and a lot of work. Many entrepreneurs are happy to run small-to-medium-sized businesses that have achieved some level of success and don’t want to risk what they have in order to grow larger.
We work with entrepreneurs who not only have businesses with the capacity to scale but who personally have big visions and will do what it takes to make it happen.
We work with businesses positioned to create jobs.
Business growth does not always result in job creation. Jobs can be viewed by some as a cost to be avoided, especially in tech startups where a solution can be easily deployed with minimal hiring. Technology makes this type of growth and scalability possible. With rapid improvements in artificial intelligence, we expect to see more growth in many industries. An extreme example is Facebook’s acquisition of Instagram in 2012. Valued at approximately $1 billion in cash and stock—at the time of the acquisition, Instagram had only 13 employees.
On the other hand, product-focused businesses also have the potential to grow and scale rapidly—production lines can be expanded and additional positions typically added include marketing, sales and customer service professionals. The Because Accelerator prioritizes entrepreneurs with businesses that sell physical products, as we believe this is the best way we can support job creation for those struggling with poverty around the world.
Are you a fit for the because accelerator cohort?
We celebrate all entrepreneurs and businesses solving important problems with their products and services. However, the Because Accelerator looks for a certain type of entrepreneur—those with product-based businesses acting based on opportunity, those with a big vision for the future, and those who can create jobs in communities impacted by poverty.
Know an entrepreneur who would be a great fit for the Because Accelerator? Encourage them to apply for an upcoming cohort of the Because Accelerator. Are you a successful entrepreneur or business owner who can help advise entrepreneurs through the program? Consider joining the Because Accelerator Advisor Network.