Omidyar Network Supports Urban Impact Ventures With Grant To Tumml

REDWOOD CITY, Calif., March 17, 2014 /PRNewswire/ -- Omidyar Network announced today an 18-month grant of up to USD $300k to Tumml, a San Francisco-based nonprofit. Tumml supports entrepreneurs who develop innovative consumer products and services aimed at addressing urban challenges. The grant will be used to support Tumml's operations.

Led by co-founders Clara Brenner and Julie Lein, Tumml is an accelerator focused on early-stage ventures working to solve urban problems. Tumml invites entrepreneurs from around the country to participate in a four-month program in San Francisco to receive hands-on support, seed funding, and services to help grow their businesses and make a significant impact on their communities. Omidyar Network's support comes through the philanthropic investment firm's Government Transparency initiative, which works to build stronger and more open societies by increasing government responsiveness and citizen participation.

"Demands on municipal services continue to increase while the fiscal resources in many cities are inadequate to match those demands. Mission-driven entrepreneurs who create sustainable, scalable solutions that work in concert with local governments can dramatically help bridge this gap. Tumml offers a crucial component to a comprehensive solution by offering early-stage capital and support to innovators who recognize that both private and public sectors play a role in meeting society's needs," said Stacy Donohue, investment partner, Omidyar Network.

Urban innovators helped by Tumml include organizations such as HandUp, a crowdfunding platform for the homeless, and WorkHands, on online service that connects those in the skilled trades with employment opportunities.

"We are thrilled to be working with Omidyar Network. This grant will allow us to significantly expand the number of early-stage urban impact entrepreneurs we support and in turn tackle a wide range of urban challenges, from homelessness to access to healthy, local food," said Tumml co-founder Julie Lein.

Tumml is currently recruiting early-stage urban impact entrepreneurs to join its Summer 2014 Cohort. Applications will be accepted from March 17 through April 13, 2014 through its AngelList page. For more information about Tumml, please visit: www.tumml.org.

About Omidyar Network

Omidyar Network is a philanthropic investment firm dedicated to harnessing the power of markets to create opportunity for people to improve their lives. Established in 2004 by eBay founder Pierre Omidyar and his wife Pam, the organization invests in and helps scale innovative organizations to catalyze economic and social change. Omidyar Network has committed more than $676 million to for-profit companies and non-profit organizations that foster economic advancement and encourage individual participation across multiple initiatives, including Consumer Internet & Mobile, Education, Financial Inclusion, Government Transparency, and Property Rights. To learn more, visit www.omidyar.com.

SOURCE Omidyar Network

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