Venture capitlism is a vital industry for developing businesses and society as a whole. Every year, hundreds of companies receive their initial funding from venture capitlists. Often these companies meet with many brilliant venture capitalists and have the time to develop their ideas.
This process is beneficial to the company because it helps to develop their ideas and it gives them the money to execute them. Society often benefits because these companies present brilliant and exciting ideas that will change the world.
Venture capitalism used to be a fairly opaque process, but recently television shows like Silicon Valley and Shark Tank have brought elements of this process to the broader culture. Marc Sparks is a brilliant investor and recently he thought to apply the process to other parts of our culture.
According to a CCN report, Marc Sparks has always loved working with developing companies. As a venture capitlist he has brought numerous companies to new heights, and he loves the sense of innovation that each new start-up offers. He knows that start-ups have a great impact on the world, and he wondered if start-up philanthropies have a similar impact. Marc started looking into the funding process for philanthropies, and he decided he could improve the process.
He loved watching Shark Tank when he was at home, and Marc knew he could apply that process to philanthropies. Making a competitive process would encourage start-up philanthropies to flesh out ideas, and allow Marc to find the philanthropies that offer the most social good. Marc Sparks named the process Spark Tank and recently he launched Spark Tank in the Dallas Fort-Worth area.
Spark Tank has already had several successful rounds of funding, and the process is fairly simple. At the beginning of each phase, charities submit an application. The application includes basic details about the charity and their plans for the area. Marc and his team look over each application carefully, and then invite their top three charities to the finale.
The Spark Tank finale is a truly unique event for philanthropies seeking funding. Marc brings a team of experts to sit on the judges panel. Each of the three charities is given a set amount of time to explain their plans for the money. The judges can ask any question, and each finalist must answer the question. Learn more about Marcs Sparks: http://www.amazon.com/They-Cant-Eat-Marc-Sparks/dp/0990495000
After the sessions are complete, the judges take time to discuss the three options. They choose to award $1,000 to the charity that will offer the most social good to the community in general.
Spark Tank is an extremely successful program. They have already funded several philanthropies, and Marc plans to keep the program running for years to come. He also hopes to spread his charity to several other metro areas.