Impact Engine
| Private company | |
| ISIN | 🆔 |
| Industry | Impact Investing |
| Founded 📆 | 2012 |
| Founder 👔 | Linda Darragh Jamie Jones |
| Headquarters 🏙️ | Chicago, Illinois |
Area served 🗺️ | |
Key people | Jessica Droste Yagan(CEO) Chuck Templeton(Former Managing Director) |
| Products 📟 | Venture Seed Fund |
| Members | |
Number of employees | |
| 🌐 Website | www.theimpactengine.com |
| 📇 Address | |
| 📞 telephone | |
Impact Engine is a Chicago based venture capital fund specializing in impact investing. The fund invests in early-stage, for-profit technology businesses that aim to improve education, health, economic empowerment, and resource efficiency. It provides both financial and human capital to these businesses through its network of investors and mentors. Impact Engine also provides support for its investors and others in their efforts to learn more about the broader impact investing field.
History[edit]
Impact Engine was founded by Linda Darragh, then director of entrepreneurship and clinical associate professor of entrepreneurship at the University of Chicago's Booth School of Business, and Jamie Jones, then assistant director of social enterprise at Northwestern's Kellogg School of Management, to advance the impact investing community in Chicago.[1]
In early 2011, Jones and Darragh began meeting informally with a group of people with similar investment interests. Later that year, they together organized an impact investing conference to explore the possibility of launching an accelerator supporting for-profit social ventures.[2][3]
In 2012, Impact Engine formally launched a 12-week accelerator program, through which startups received $25,000 in seed funding, as well as mentorship, training, customer introductions, legal advice, tax consulting, feedback on pro-forma models, marketing, sales strategies, and workspace at 1871. [4] [1]
Chuck Templeton, founder and former CEO of Open Table, was the first Managing Director and led the development and design of the program and investment in 8 start-up impact companies.[5] Under Templeton’s leadership, Impact Engine functioned expanded to a 16-week seed accelerator in 2013 and invested in an additional 8 impact startups. In 2014, Jessica Droste Yagan, was hired as Impact Engine’s CEO, and Tasha Seitz as Impact Engine’s Chief Investment Officer. Droste Yagan and Seitz led an additional 16-week accelerator in 2014, through which they invested in 7 additional impact startups.
Since 2015, Impact Engine has operated year-round as an early stage impact venture fund and has invested in 5 additional impact startups.[6]
References[edit]
- ↑ 1.0 1.1 Perez, Sarah. "Chicago's Impact Engine Accelerator Is Looking For Environmentally & Socially Minded Startups". techcrunch.com.
- ↑ "Linda Darragh - Faculty - Kellogg School of Management". northwestern.edu.
- ↑ "Business accelerator ramping up". chicagotribune.com.
- ↑ "1871 Welcomes Impact Engine! : 1871". 1871.com.
- ↑ "OpenTable founder Templeton talks up his new gig: Impact Engine". chicagobusiness.com.
- ↑ "Impact Engine IV, LLC - Who's raising money? - SEC filings of fundraisings and investments in hedge funds, startups and private equity companies". whosraisingmoney.com.
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