We accept applications in three formats:
- Via our application, either online or in an attached file that matches the format of our online form. This form
- In the interests of saving the entrepreneur’s time, we accept applications made to our peer organizations — Agora Partnerships, Echoing Green, Fledge, Global Social Benefit Institute, Seed Spot, Uncharted, & Village Capital. Additional applications may also be accepted, but should be confirmed with our staff
- Applicants are also welcome and encouraged to submit existing executive summary documents, provided they answer the questions presented by our online form.
After applications are received, they go through a 5-step process.
Step 1: Removing non-viable applications
This done by MCN staff. About 1/3rd of our applicants do not fit our criteria. Most of them have not read our website, and do not realize we are not a grant-making entity.
Step 2: Selecting Semi-Finalists
This done by MCN staff. Applications are reviewed with a focus on business viability and integrated social, environmental, or cultural value. Only the application itself is considered in this round.
Step 3: The Review Round
This work is done by staff and volunteers, who are serving in the capacity of “Judge.” The judges review two page applications (available online via private shared folder), and provide 1-5 rankings in the area of business value and social/environmental impact via private online form. The opportunity to provide brief feedback directly to the company is available, but not required at this stage. Once an application has been reviewed 5 or more times, it is taken down from the shared folder.
Also, using LinkedIN, MCN staff contacts mutual connections of the entrepreneurs under consideration, and asks if they have strong pro/con opinions. (Moderate opinions, which are the norm, do not affect the process.)
Step 4: Semi-Finalist Interviews
Interviews are scheduled with semi-finalists. Interviews are in person (For those in Washington, DC) or via video chat or telephone, depending on the technology available to the entrepreneur. The interviews are led by MCN staff, although other members of the MCN community (reviewers, mentors, and past participants) are invited to join.
Ideally, multiple applicants (as long as they are non-competitive) will be included on the same call. At the conclusion of regular interview portion of the call, applicants are given a chance to network with each other.
Finalist Selection Criteria for MCN Spring 2018 Cohort
No candidate is expected to get top marks in all of the listed criteria.
- Viability: Will they be in existence long enough for their idea to spread? While we welcome and hope for the success of our entrepreneurs, we are specifically concerned with the success of their idea. If the candidate wishes to be successful on their own terms, which includes staying small and focused on their immediate community, but they can prove that their innovation is both profitable and socially beneficial, and they are willing to share that idea, we are just as happy to work with them as with entrepreneurs who aim for the more traditional metrics of scale.
- Total Social Value: Does this company’s existence make the world better? Think past the first problem they solve for this. Are they creating new problems by solving the old ones? Are they aware of the impact of their work?
- Innovation: Do they have an idea that will spread to other companies? Do they have an understanding of their field as a whole? Does the entrepreneur actively want their idea to spread?
- Frontier Markets: Are they addressing a community that does not have easy access to what they are providing? How deeply are the founders connected to that community?
- MCN Value-Add: Can the MCN community add specific and significant value to this entrepreneur and/or company?
- Fellowship: Does it seem like the entrepreneur will actively contribute towards supporting the MCN peer community? Are they excited to talk to other people who are trying to solve the same problems?
- Mentor Clusters: Can we put this company in a “cluster” so that our expert reviewers will be able to look at and compare 3-4 companies in the same cluster? We work with various kinds of clusters, including: Industry (e.g. Agriculture), Business Type (e.g. Retail), and Challenge (e.g. convincing people to accept individuals they might otherwise be uncomfortable around as part of regular business enterprise)