Boston venture capitalist plans ‘Shark Tank’-style competition for nonprofits – Business – The Boston Globe.
Now, dissatisfied with that kind of traditional philanthropy, he is considering a different approach to charitable giving, and it is signature Dagres — a bit brash, a dose of flash, but serious in purpose. He is organizing a “Shark Tank”-style competition that rewards the charities best able to withstand grilling by prospective investors, or “sharks.” Early-stage not-for-profit organizations could pitch their missions to investors, who would vet them on their plans and fund those they consider most promising. Several big-name executives have already signed on.
The investors would also become advisers to the organizations they invest in. The goal is to bring financial stability and management expertise to emerging nonprofits that could eventually grow and benefit society. Dagres intends to be a shark himself, saying he will invest up to $100,000.