A new contest started by a Boston venture capitalist gives nonprofits a chance to pitch their missions to people who will invest in the most promising plans, The Boston Globe reports.
Todd Dagres, who describes the effort as a "Shark Tank"-style contest, says he will invest up to $100,000. He hopes to hold the first competition this fall. Other prominent investors have said they'd participate. Investors will also serve as advisers to the groups they support.
The concept applies a concept used for business start-ups to nonprofits. Some ciritics see that as problematic, noting the difficulty some nonprofits have in showing a return on investment.