FOR IMMEDIATE RELEASE
May 7, 2019
OKLAHOMA CITY—Oklahoma City-based Metafund and Cross Sector Innovations have announced they are partnering to launch the Oklahoma Impact Accelerator, a platform that will bring together a diverse group of investors from across the state to identify, develop and fund innovative projects with the potential to improve the lives of disadvantaged Oklahomans.
“This is a game changer in that the Accelerator will open new doors and allow us to tap into and support creative talent across our state,” said Ed Long, principal and founder of Cross Sector Innovations. “Oklahoma has a wealth of innovative ideas and a strong commitment to serving others. This venture makes it possible for new solutions to emerge that effectively meet the needs of our families, neighbors and communities.”
Multiple outcome areas will be targeted, including healthcare, employment, housing, food deserts, early childhood education, and criminal justice. Selected projects will receive technical assistance and flexible funding to implement programs addressing these issues.
The Accelerator may also serve as a private investor or facilitator in contracts with the state of Oklahoma through the Pay for Success Innovation Fund, which was created upon the signature of Governor Stitt on April 29. Pay for Success is an innovative financing mechanism designed to improve social outcomes while saving taxpayer dollars. In this model, the Accelerator could provide up-front funding to a social program with repayment from the state contingent on that program achieving pre-agreed-upon outcomes.
“The Oklahoma Impact Accelerator will continue the growth of impact investing in Oklahoma. It allows us to identify creative programs for addressing the social and economic issues we face and provide them with the resources needed to succeed,” said Blake Trippet, president of MetaFund. “It can be used to scale-up already proven programs and interventions, as well as test innovative new models of service delivery.”
The partnership is currently focused on securing private investment and plans to launch in the fall of 2019. For more information, contact Ed Long at 405.922.7580 or email@example.com