Initiative to Connect Bold, Game-Changing Ideas with Potential Investors Now Moves to Application Review Stage
Cincinnati – June 18, 2015 – Transform Cincinnati, a new initiative to connect bold ideas to improve Greater Cincinnati with people who have the potential to make significant investments in the social capital of our region, has announced the results of its initial request for ideas.
Over 250 requests for applications were received by Transform Cincinnati in the past six weeks, each sharing an idea on a project that could transform the region. From these, nearly 150 completed applications were submitted by the June 15 deadline, representing potential projects from a diverse range of subject areas such as the arts, literacy, housing, health, poverty, urban revitalization and community development, various levels of education, the environment, and others.
Transform Cincinnati connects individuals who have the financial capacity and motivation to effect dramatic change with not-for-profit and for-profit entities whose ideas can have a lasting impact on the quality of life in Greater Cincinnati. The initiative is seeking ideas that may require from $1 to $10 million in funding. Transform Cincinnati itself does not provide funding, but is creating a marketplace where potential investors and bold ideas can be matched.
First Phase Exceeds Expectations
“We are truly overwhelmed and excited by the response to our initiative,” said Transform Cincinnati founder Dick Rosenthal. “Our goal was to hear from people and organizations who are thinking differently about how they can affect change in our community, and the response has exceeded our expectations.”
“Transform Cincinnati has received a truly outstanding response to our request for applications,” said Susan Ingmire, president of Ignite Philanthropy, which is assisting with application review. “But it’s more than numbers. Some applicants have told us that whether or not they make it to the next round, for the first time they are thinking more boldly about where they want to be in five or 10 years. This has to have transformative benefits for our community.”
Next Steps Detailed
The first round of application screenings is expected to be completed by July 1, with notifications sent to applicants regarding whether or not their ideas are advancing to the next round.
In early August, a comprehensive review panel, including community leaders from civic, private and the public sectors, will review applications, compare them with program criteria, and select five to seven top ideas for presentation to prospective funders. Applicants selected to advance for final presentation will be notified in mid-August.
Prospective funders will gather in a private forum on September 30 to learn more about investment opportunities, and will have the opportunity to commit to a project, but are not obligated to do so. All finalists will be notified of the status of funding opportunities by November 1.
Investors Encouraged to Register
The opportunity for prospective investors to register continues. Interested individuals, organizations and foundations who would like to register may do so at http://transformcincinnati.org/invest/.
About Transform Cincinnati
Transform Cincinnati connects individuals and organizations that have the financial capacity and motivation to effect dramatic change with initiatives that will have a lasting impact on the quality of life in Cincinnati and the eight surrounding counties. Learn more at www.TransformCincinnati.org.
Rick Miller Communications
Rick Miller Communications