Outerwall and Points of Light Announce Inaugural Award to Drive Positive Change in Local Communities
Outerwall Civic Venture Award Recognizes InvestNextDoor's Efforts to Create a New Source of Capital for Small Businesses
BELLEVUE, Wash. and ATLANTA, Oct. 31, 2014 /PRNewswire/ -- Outerwall Inc. (Nasdaq: OUTR) and Points of Light today announced the winner of the inaugural Outerwall™ Civic Venture Award, which aims to advance the efforts of entrepreneurs who are working to drive positive change in local communities. The award was presented to Seattle-based startup InvestNextDoor Tuesday night at the 2014 Social Venture Partners Seattle Fast Pitch competition, an event designed to connect innovators with business, philanthropic and nonprofit leaders who want to help them succeed.
"It's an honor to receive the Outerwall Civic Venture Award," said Tabitha Creighton, CEO and co-founder of InvestNextDoor, a crowdlending marketplace where individual investors lend money to small businesses in their community. "Outerwall has offered our team an extraordinary opportunity to further engage with leaders in various sectors and gain valuable insights at the upcoming Points of Light Civic Accelerator boot camp."
"As a company committed to driving innovation and helping our communities thrive, we support InvestNextDoor's mission to create shared value by connecting small businesses and investors at the local level," said Debby Fry Wilson, vice president of corporate and public affairs at Outerwall. "We're proud to partner with Points of Light – an organization that shares our belief in the potential to drive business growth while promoting positive social outcomes – to grant this inaugural award."
InvestNextDoor was selected to receive the honor based on its unique solution to a challenging problem: providing small businesses with reasonably priced capital. InvestNextDoor operates at the intersection between impact investing and crowdlending, creating a balanced relationship of returns between businesses and investors in local communities.
As the winner of the Outerwall Civic Venture Award, InvestNextDoor will advance to the Points of Light Civic Accelerator, a 12-week boot camp featuring an entrepreneurial curriculum delivered by industry leaders, successful entrepreneurs and investors, and design experts. Participants also gain access to mentors and have a chance at securing a $50,000 investment.
"We're excited to welcome InvestNextDoor to the Civic Accelerator, where this Seattle startup will join teams from across the country to accelerate their business and community impact," said Ayesha Khanna, founder of the Points of Light Civic Accelerator. "We're grateful to Outerwall for supporting promising ventures that engage people in strengthening communities. Outerwall is helping us meet our Clinton Global Initiative America commitment to support and invest in 300 civic entrepreneurs by 2016."
Finalists for the Outerwall Civic Venture Award were reviewed by a selection committee comprising leadership from Outerwall and Points of Light. Proposals were evaluated based on an established set of criteria, including civic engagement, innovation, sustainability and scalability.
To learn more about the Social Venture Partners Seattle Fast Pitch competition, visit www.socialventurepartners.org/seattle. For additional information on the Points of Light Civic Accelerator, visit www.pointsoflight.org.
About Outerwall Inc.
Outerwall Inc. (Nasdaq: OUTR) has more than 20 years of experience creating some of the most profitable spaces for their retail partners. The company mission is to create a better everyday by delivering breakthrough kiosk experiences that delight consumers and generate revenue for retailers. As the company that brought consumers Redbox® entertainment, Coinstar® money services, and ecoATM® electronics recycling kiosks, Outerwall is leading the next generation of automated retail and paving the way for inventive, scalable businesses. Outerwall™ kiosks are in neighborhood grocery stores, drug stores, mass merchants, malls, and other retail locations in the United States, Canada, Puerto Rico, the United Kingdom, and Ireland. Learn more at www.outerwall.com.
About Points of Light
Points of Light – the largest organization in the world dedicated to volunteer service – mobilizes millions of people to take action that is changing the world. Through affiliates in 250 cities in 30 countries, and partnerships with thousands of nonprofits and corporations, Points of Light engages more than 4 million volunteers in 30 million hours of service each year.
SOURCE Outerwall Inc.