Three blocks away in the same city lives Maya. Not everything the world needs can be turned into a profitable product, however. Marcus is a multi-millionaire, and his investors and shareholders have made their mark. Barely two years after that, his company is reaching 30 million customers. Three years later, he takes his company public, bringing in another $75 million in a single day from thousands of new investors. Attracting investors is never easy, of course, but the profitable business model eventually allows him to generate buzz among venture capitalists who back him with three rounds of funding totaling $25 million, using funds that pool dollars from dozens of early-stage investors. Marcus dreams that it could appeal to millions of people around the world. Loan Me would offer instant cash for impulse purchases based on an algorithm that cleverly analyzes a person’s credit rating. Meet Marcus - he’s a passionate young entrepreneur with a proven track record, and he has a vision for an innovative service called Loan Me. A tale of two different entrepreneurs with world-changing ideas In today’s world, those two paths will take them on radically different journeys. Entrepreneurs can choose one of two main paths: for-profit (business entrepreneurs) or nonprofit (social entrepreneurs). They have the ability to imagine a better future and the courage, ingenuity, persuasiveness and determination to make that future real. Large-scale change depends to a huge degree on people with a special mindset: entrepreneurs.
With today’s announcement, we’d like to share our thinking behind this initiative and open the doors for others to participate. It’s been tried and tested, and it’s already delivering exciting results. įor the past three years, a group of foundations and individuals has been working with TED to design a new model for turning bold ideas into action.
Mike Lemanski How can nonprofits, social entrepreneurs and individuals join forces to impact the future? TED Curator Chris Anderson unveils an exciting new collaboration to fund bold ideas.
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