As IVN began developing the Israeli Social Business Ecosystem, the team discovered an enormous hole in the market; young, socially minded entrepreneurs needed money and extensive mentoring to get their ventures off the ground.
In 2014, IVN and Bank Mizrahi-Tehafot joined together to identify and support early stage social businesses focused on employment. The goal of this partnership is two-fold: (i) to develop and grow the social business sector in Israel and (ii) to develop a pipeline of promising social businesses that will feed into IVN’s other Social Business Funds.
Social businesses supported by the Seed Fund not only receive funding in the form of grants but also crucial mentoring and guidance to increase the chances of achieving their goals. Successful social businesses supported by the Seed Fund are encouraged to utilize the funding and benefits of the Tandem and Yozma Funds.
Within the framework of the program, 4-5 seed-stage businesses are selected annually, each receiving financial assistance and business mentoring from IVN members and Mizrahi-Tefahot professionals.
In 2017, IVN began a partnership with Casarea Fund to launch a new seed fund for supporting 2 social seed ventures that are created and managed by a student(s) currently studying in Israel.
IVN’s Seed Fund is led and managed by IVN Board Members, professional staff and representatives of Bank Mizrachi-Tefahot and Casarea Fund respectively.