conscious capitalism in the lab

Conscious Capitalism in the lab •“I strongly believe that companies can do well by doing good” said Howard County Executive, Ken Ulman, recently. And the county, in the US state of Maryland, is putting its money where its mouth is by investing $800,000 in the creation of a ‘conscious venture lab’ •The project is a joint venture between the county, providing the funding for the staffing and administration of the lab, and The Porter Group LLC who will be investing up to $25,000 in each company accepted into the lab in return for a 5% equity stake. If the individual businesses achieve specific milestones, they will receive a further investment of up to $250,000. •This isn’t philanthropy. The businesses accepted into the lab will have to perform in accordance with all the traditional criteria by which venture capital funds assess their investments. But they will also have to do more than that. In order to be selected, they will have to be able to demonstrate that they are driven not just by conventional measures of business success but also by their values. •As Jeff Cherry, The Porter Group’s CEO/Managing Partner, commented: “When practiced with a stakeholder mindset, capitalism can be the force that creates a more just, equitable, healthy, joyful and profitable society.” •And could it even be that an investment like this will create a cluster of values-driven businesses. Just imagine what effect a ‘conscious cluster’ could have, not just on the way business is done but on the ability of business to address the world’s social and environmental problems.

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Conscious Capitalism in the lab• “I strongly believe that companies can do well by doing good” said Howard County Executive, Ken Ulman,

recently. And the county, in the US state of Maryland, is putting its money where its mouth is by investing $800,000 in the creation of a ‘conscious venture lab’

• The project is a joint venture between the county, providing the funding for the staffing and administration of the lab, and The Porter Group LLC who will be investing up to $25,000 in each company accepted into the lab in return for a 5% equity stake. If the individual businesses achieve specific milestones, they will receive a further investment of up to $250,000.

• This isn’t philanthropy. The businesses accepted into the lab will have to perform in accordance with all the traditional criteria by which venture capital funds assess their investments. But they will also have to do more than that. In order to be selected, they will have to be able to demonstrate that they are driven not just by conventional measures of business success but also by their values.

• As Jeff Cherry, The Porter Group’s CEO/Managing Partner, commented: “When practiced with a stakeholder mindset, capitalism can be the force that creates a more just, equitable, healthy, joyful and profitable society.”

• And could it even be that an investment like this will create a cluster of values-driven businesses. Just imagine what effect a ‘conscious cluster’ could have, not just on the way business is done but on the ability of business to address the world’s social and environmental problems.