Solve is an initiative of the Massachusetts Institute of Technology (MIT) with a mission to solve world challenges. Solve is a marketplace for social impact innovation. Through open innovation Challenges, Solve finds incredible tech-based social entrepreneurs all around the world. Solve then brings together MIT’s innovation ecosystem and a community of Members to fund and support these entrepreneurs to help them drive lasting, transformational impact.
Joining the Solve team offers the chance to play a leading role in defining this cutting-edge and diverse community.
In 2019, Solve launched Solve Innovation Future—a philanthropic venture investment vehicle, dedicated to investing in Solver teams. Through a Donor Advised Fund (DAF) held with a sponsor organization, Solve offers flexible and catalytic capital to scale early-stage impact solutions around the world. Solve Innovation Future is designed to support technology-driven solutions, be open to global innovation and use a portfolio approach to address global challenges. Solve Innovation Future is an innovative mechanism to distribute grants and make investments in the Solver teams – incredible tech entrepreneurs with impact.
Solve is seeking an Associate to scale and support the fund. The Associate will play a critical role in fundraising, investor relations, due diligence, and portfolio management.
This is an exciting opportunity for a self-starter who is not afraid to roll up their sleeves and build a movement to address the biggest issues of our time. This is a full-time position, located in Cambridge, MA. The Associate will report to Solve Innovation Future’s Principal.
Principal Duties and Responsibilities (Essential Functions**):
Fundraising and Investor Relations (70%)
Develop and execute a fundraising strategy in collaboration with Solve Innovation Future Principal, to build pipeline of philanthropic donors. This may include organizing meetings, road shows, and gatherings as well as targeted marketing campaigns to raise funds.
Build and maintain relationships with prospective funders and potential donors, including through initial prospecting (e.g. introductory meetings, Hubspot campaigns, etc.).
Manage post-investment portfolio reporting, including working with Solver teams to collect data and support direct growth initiatives as appropriate—to create marketing materials and other collateral that can be shared with potential funders and partners.
Work across functions to generate thought leadership in support of Solve Innovation Future marketing and investor relations, including Solve Innovation Future annual report.
Support ongoing donor relations efforts (e.g. building materials for quarterly Leadership Circle meetings).
Support coordination and organization for Solve Innovation Future related events at Solve at MIT and Solve Challenge Finals (in NY during UN Week), Solve's flagship events bringing together Solver teams and existing and potential donors as well as public and private sector partners.
Investment and Transaction Support (30%)
Conduct due diligence on Solver team pipeline for Investment Committee review, including financial analysis, business model review, risk assessment, and impact diagnostics.
Manage ongoing market research to make recommendations for future investment opportunities (e.g. investment research and market trends).
Support existing Solve Innovation Future portfolio in strategic and growth efforts (e.g. pitch deck guidance, capital planning, etc.).
Work closely with the Community Team to understand financial and non-financial needs of Solver teams and support partnerships between Solvers and Solve members and partners to advance the growth of selected solutions, and measure the impact of Solve’s work.
Position will report to Principal of Solve Innovation Future, and will collaborate across MIT Solve.
Qualifications & Skills:
MINIMUM REQUIRED EDUCATION AND EXPERIENCE:
Minimum 3 years’ experience, preferably in consulting or investing
Experience managing high level investors and stakeholders required
Highly developed organizational skills, ability to prioritize and plan work in an efficient manner to meet deadlines
Ability to work in a fast-paced, ever-changing environment
Must be flexible and able to work independently, take initiative and anticipate needs
Bachelor’s degree required
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