SVP Cincinnati seeks nonprofits for next accelerator cohort

Social Venture Partners Cincinnati is looking for up to 12 local nonprofits with big ideas to be part of its next Project XLR8 cohort.

Now in its fourth cycle, Project XLR8 is a months-long accelerator program supporting the development of innovative social ideas created by Greater Cincinnati nonprofits. SVP Cincinnati – a nonprofit business incubator and support network – seeks projects that will enhance opportunities, create sustainable solutions to local social challenges or reflect the lived experiences of people in need.

Participating nonprofits benefit from both hands-on business expertise from the SVP network as well as financial resources. One cohort member will receive a multiyear investment of up to $60,000. However, all other participants will be eligible for some funding as well.

The program is only available to registered 501(C)(3) organizations. SVP will open the application window on July 15. 

“We want to encourage nonprofits to take risks and bring forward fresh ideas that might not receive conventional funding because they are untested or new,” said Chris Chen, SVP Cincinnati’s board chair.

Investing in nonprofits, investing in people

SVP Cincinnati plans to review applications in August and select between 10 to 12 nonprofits for the first phase of Project XLR8. Those groups will work closely with a team of local business experts from September to November. That phase will culminate in a pitch competition to determine the four to six teams that will advance to the second round in January 2025.

Ultimately, SVP Cincinnati will choose one cohort member to receive up to $20,000 each year for two to three years. SVP’s business partners will also continue to work with the winning organization in areas such as strategic planning, risk assessment, accounting, finance, event planning, board development and communications during that period.

In May, SVP selected Appointed Civic Leadership Academy, a program of the Women’s Fund of the Greater Cincinnati Foundation, as its most recent Project XLR8 winner.

Organizations may attend one or both of SVP’s upcoming online information sessions. The dates are Friday, July 12 at noon and Wednesday, July 17 at 5:30 p.m.

You can sign up on the Project XLR8 website.

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