Jens is the founder of NewImpact, a humanity benefit nonprofit based in Seattle, WA. NewImpact is seeking to change the way the world finds opportunities and solves problems by pioneering the field of Tri-Sector Innovation. NewImpact inspires and enables innovators and organizations to design solutions and business models that repurpose and realign the best resources available within the private, social and public sectors.
Jens first realized the potential for tri-sector innovation when he founded Coinstar in 1990. His goal was to create a company that could simultaneously benefit the private, public, and non-profit sectors. Today, Coinstar has processed trillions of coins and billions of dollars for millions of people, raising over $150M in donations to nonprofits and saving the government billions of dollars, all while providing a valued consumer service and increasing spendable cash power. After the success of Coinstar, Jens realized tri-sector business models could be applied to many types of organizations, with the potential to help transform society.
Jens has been invited to present tri-sector methodologies at numerous keynotes, business school presentations and curriculum, before the United Nations, and at other gatherings, and he is always seeking opportunities to share his vision for a world where social and economic progress are available to all.
We talked about the story of Coinstar and when the mission came into it, how he learned how to talk about it, the tri-sector model in more detail. I'm sure you're wondering about it, including some examples of it.
“I would just encourage people who are starting companies or existing companies to really think about a tri-sector mindset out there, and I think they can grow their companies faster.” - Jens Molbak
Today on Startups for Good we cover:
- When mission became a part of Coinstar
- Attracting investors when mission is part of the business
- How to continue to innovate
- Tri-sector and how it differs from triple bottom line
- How to identify public sector resources
- Challenges to building software as a non-profit
- Universal basic service
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