| Slow Money | |
|---|---|
| Formation | 2008 |
| Founder | Woody Tasch |
| Website | http://www.slowmoneyalliance.org/ |
Slow Money is a movement to organize investors and donors to steer new sources of capital to small food enterprises, organic farms, and local food systems.[1] Slow Money takes its name from the Slow Food movement.[2] Slow Money aims to develop the relationship between capital markets and place, including social capital and soil fertility.[3] Slow Money is supporting the grass-roots mobilization through network building, convening, publishing, and incubating intermediary strategies and structures of funding. It is a 501(c)3 non-profit based in Brookline, Massachusetts.
Contents |
Slow Money was started by Woody Tasch, former chairman of Investors’ Circle — a nonprofit network of over 200 angel investors, professional venture capitalists, foundations, family offices and others.[2] The idea to initiate the Slow Money movement came to Woody Tasch while he was writing his book Inquiries Into the Nature of Slow Money– Investing as if Food, Farms and Fertility Mattered.[4] The non-profit, Slow Money, was founded in November, 2008, following the publication of Mr. Tasch’s book. The movement gained significant momentum from a number of local and regional meetings, and press coverage[5] during the first half of 2009 leading to an Inaugural National Gathering.[6]
The Inaugural National Gathering of Slow Money took place in Santa Fe, New Mexico at the Farmer’s Market in September, 2009. 450 entrepreneurs, farmers, investors, and interested people traveled from over 34 states and 6 countries to attend.[7] A second national gathering, attended by about 600 people, was held at Shelburne Farms in Vermont, June 9–11, 2010.[8] Slow Money's third National Gathering is planned for October 12-14th, 2011 in San Francisco, CA at Fort Mason. Over 1000 people are expected to attend.
In September, 2009, a campaign was launched to get one million people to sign the Slow Money Principles that advocate for cultural, ecological and economic diversity in an economy based on healthy people in healthy places.[9]
The national gathering has resulted in people starting local and regional chapters of Slow Money. Slow Money will continue its leadership by conducting research and publishing newsletters and blogging. Slow Money has been named by BusinessWeek as one of the Big Ideas for 2010. Mr. Tasch’s book “Inquiries Into the Nature of Slow Money– Investing as if Food, Farms and Fertility Mattered” has been published in Italian, is due out in Japanese shortly, and rights have been bought in Korea.[10]
Slow Money’s long-term objective is for one million investors to commit 1% of their assets to local food systems. Slow Money is incubating new intermediaries. One strategy is the I. Fund, with “I.” standing for “integral,” in which a new foundation charter mandates investment of assets that are consistent with charitable purposes. Another strategy is Slow Munis or tax-exempt bonds dedicated to local food systems. New funds dedicated to organic farmland are being organized. Food funds and “clubs” are being developed locally in many regions.[11]