TOMS, the socially-conscious apparel company known for its policy that gives kids in need a pair of shoes, recently announced the TOMS Social Entrepreneurship Fund. Through this fund, a group of eleven social enterprises will receive investments. Among the first group of companies supported by this fund are Change.org, the social change online platform; Andela, an African software development and training startup; and Ava, an application that allows the hearing-impaired to be included in group conversations through an application that transcribes what is being said among the group.
Blake Mycoskie, Chief Shoe Giver and founder of TOMS, launched this fund after selling half of TOMS private equity. Mycoskie has used a One for One strategies as a core business strategy. Each product line is paired with a set of life-improvement tactics. Its eyeware products ensure eyesight-recovering surgeries. Roasted coffee purchases support safe drinking water projects. Bags help fund safer birth deliveries and training.
As a supporter of an ecosystem of socially responsible businesses, TOMS also hosts an online marketplace, where different companies can sell their ethically-produced apparel and accessories. Last year, Mycoskie joined the B Team, positioning him as an inspiring leader seeking to affect change among young company founders and companies. Inspired by Lester Brown’s Plan B book, and the B Corp movement, Team B is a group of business and world leaders implementing new ways of doing business: creating thriving businesses and communities that are net-zero energy, transparent and collaborative.
Leading up to its ten-year anniversary, Mycoskie’s new year resolution for 2016 is to show more gratitude.