Worthwhile Ventures Ltd
Worthwhile Ventures Ltd is a start-up, not-for-profit Aboriginal managed organisation, which supports Aboriginal entrepreneurs through business coaching; unsecured, zero interest loans; and business education. The Worthwhile Ventures model will use the disciplines of venture capitalism, but apply them in a philanthropic way. Throughout 2017, Right Lane assisted the Worthwhile Ventures board with the establishment of its foundation phase during which the organisation’s concepts are being learned and developed in partnership with a small number of Aboriginal entrepreneurs in Sydney. We have also helped with the development of an impact measurement framework and facilitated a number of Worthwhile Ventures Business Community forums comprising Aboriginal and non-Aboriginal industry experts, entrepreneurs and supporters.
‘Right Lane held us together whilst we explored our particular ideas around our model in quite a large diverse group. The Right Lane team were able to provide the right care, guidance, structure and process that enabled us to reach our midway point in our foundation phase, applying our model alongside Aboriginal enterprises.
The impact the work Right Lane has had on Worthwhile Ventures is best described as reconciliation in action. Without their work and support we would not have seen the diversity of Worthwhile Venture’s business community come together and successfully collaborate and share ideas.
So, the long-term impact really is about the model that Worthwhile Ventures has been able to bring to the market. It is quite unique as a not for profit venture capitalist model for Aboriginal people and the Aboriginal community.
We are really appreciative of Right Lane’s support and commitment along the way.’
— Gavin Mate, Director, Worthwhile Ventures