Create Innovation Driven Enterprises (IDE) & Social Entrepreneurs

Income inequality

Expand existing project, program, or initiative (expanding and continuing ongoing, successful work)

To address income inequality we will foster proven and sound business principles focused on the Triple Bottom Line: People, Planet, and Profit. Perhaps the biggest income inequality exists between women and men. Women have suffered the most since the passage of the Equal Pay Act of 1963, to prohibit discrimination on account of sex in the payment of wages by employers. Women have now become the leading group of new entrepreneurs, especially women of color. With that in mind, to date 63% of PI clients are women led businesses.

The Polk Institute Foundation is working to launch 1000 entrepreneurships by 2032 through our proven incubator and accelerator small business and non-profit mentoring programs. PI workshops are facilitated by seasoned, real-world practitioners with hands-on experience and a proven history of success at scale. Our facilitators often exemplify the makeup of the cohorts they train. We are nimble, vigilantly observing market conditions and trends to keep our content and presentations timely , prescient, and accessible. Beyond the training, we help put theory into practice. Our mentors, with their wealth of experience and knowledge, provide invaluable insight into the intricacies of the business and non-profit worlds. Mentors guide budding entrepreneurs through the challenges of starting and running a business, helping them avoid common pitfalls and capitalize on opportunities. They offer constructive feedback, foster an environment of continuous learning and improvement, and open doors to new business relationships and collaborations.

We are proud to report that we have facilitated the maturation of 101 businesses with a collective value of over $25 million over just our first four years in operation, with the majority of our impact in under-represented communities. Our model is proven, and as such we entered 2024 with efforts to scale our footprint and influence. Our demographics of cohort members have been 67% female, 33% male with over 57% African American and 18% Latine/Hispanic.
LA County will be different as more women entrepreneurs are empowered to start local businesses and make an impact for all women, employers and employees. The ability for young school aged girls to see women led businesses who look like them gives them the confidence to know they can do it too.

Polk Institute has a robust process for evaluating our cohorts. Our process uses a comprehensive valuation of several key performance indicators (KPIs) carefully chosen to provide a holistic view of performance and potential. These KPIs focus on profit, customer acquisition, contribution to employment (job creation and retention), operational effectiveness (leadership), and contracting efficiency.
An initial assessment takes into account aspects of the cohort company, including its business model, market potential, the viability of product or service, team composition, and financial projections. This comprehensive review allows the Polk Institute to gain a deep understanding of the company's strengths, weaknesses, opportunities, and threats. These metrics are reevaluated periodically to gauge traction and financial health.
Our focus on social entrepreneurship means we do not measure impact in isolation but are also weighted against the company's contribution to their communities