February 21 2016
Here’s a blog article to share some good news with you, our community... Late last year (2015) Ability Mate secured $20K in seed funding!
The group that kick started our growth is the Vasudhara Foundation. The Vasudhara Foundation supports early-stage, innovative and creative social impact projects, like Ability Mate. They believe that both commercial and not-for-profit organisations can deliver social impact, and so support projects in both worlds. The fact that Vasundara knows that commercial organisations can deliver social impact is really encouraging, especially in Australia as there is no “off the shelf” entity available for social enterprise.
At Ability Mate we believe that social innovation can be achieved by changing the way consumers and investors perceive our reason of existence. Ability Mate matches our financial success to our social impact therefore we avoid using the terminology like Not for Profit or For Profit to describe our organisation type, rather we use the term 'for purpose.
If this stuff interests you check out previous blog article whereby Ability Mate co-founder Johan discusses what the best legal structure is for social enterprise in Australia.
We look forward to working with the team at Vasudhara and gearing up our business to bring them a return on investment so they can then support other early stage social initiatives.