Business plan competitions focused specifically on social entrepreneurship seem to be sprouting up everywhere. And Boston’s Practically Green is one of the most prestigious of these competitions’ latest benefactors. This online service which helps busy people make healthy, practical and green-living decisions placed first in the William James Foundation 8th annual socially responsible $100K business plan competition.
The award ceremony was held this past weekend in Washington DC, where Practically Green earned first place among 135 contenders from 35 different countries. Their winnings include $4,000 in cash prizes, in-kind professional services, and direct connections with investors specifically looking to fund socially responsible ventures.
Winners were honored based on the potential of both their financial impact and social impact. Other finalists included organic and fairly traded tea and beverage company Runa and Previca, the developer of an electronic cervical cancer screening test that shows immediate results. The Foundation’s Executive Director noted that while competition was stiff, Practically Green’s broad play service made meaningful by its local level strategy made the company stand out.
“The judges were pleased that all three finalists were viable and investable businesses, and they had a tough time deciding,” said Ian Fisk, the executive director. “We chose Practically Green for the great potential influence its users would have to make their communities more socially and environmentally responsible.”
Practically Green Founder and CEO Susan Hunt Stevens shared, “Every finalist has an amazing business that also addresses fundamental issues regarding health or the environment. We were delighted, and honored, to have the broad, transformative impact of Practically Green’s online service highlighted by the judges.”
Practically Green provides users with green knowledge and recommendations, allowing them to take green actions and thus make green accomplishments they can share with friends. The company touts that social networks drive real-life changes beyond the online realm, and has most recently lined up a cast of digital media veterans. This includes former digital marketers from the New York Times Company, Boston.com, Amazon.com, and iVillage.
The company launched in May 2010 in private beta, moving quickly to an open beta in July 2010. The company raised $750,000 in seed money in November 2010 from Boston’s CommonAngels, and moved into Dogpatch Labs’ new space in Kendall Square this year.
