Join us on The DMV Business Show with Otto Sevilla as we feature Jay Nwachu, President and CEO of Innovation Works. He shares his inspiring journey and the mission of his organization. Innovation Works is a nonprofit organization based in Baltimore City, dedicated to closing the racial wealth gap by supporting social entrepreneurs and providing impact investing.
Innovation Works was founded with the goal of testing the model in Baltimore City, identifying entrepreneurs, and partnering with mentors. The organization collaborated with the Miller Center for Social Entrepreneurship at Santa Clara University to adapt their model for an urban market in the United States. This led to the launch of Ignite Capital, an impact investing arm that provides capital to social enterprises.
Ignite Capital's first fund was a local fund seeded by the Jesuits and later attracted institutional philanthropy. Despite launching during the COVID-19 pandemic, the fund successfully raised $4 million. One of the organization's first investors is now a board member, demonstrating the organization's impact on the local community.
Jay Nwachu migrated to the United States in the 9th grade and has been living in Baltimore for over 25 years. He grew up in Lagos, Nigeria, with a loving family and community that relied on each other for support. After arriving in the US, he experienced a significant culture shock, particularly with the cold weather and Halloween celebrations. He found solace in the diversity of his school, Laurel High School, which had a large population of immigrant families, allowing him to connect with others who shared similar experiences.
Jay attended the University of Maryland, Baltimore County (UMBC), where he initially studied computer engineering but later changed his major to psychology. He navigated his undergraduate and graduate studies, working in a research lab and as a corporate recruiter while pursuing his degrees. He landed a job as a corporate recruiter and worked in this role for over a decade, also pursuing a master's degree in industrial psychology.
Jay transitioned from corporate recruiting to innovation and entrepreneurship, citing his desire for a values-aligned corporate role. He joined a nonprofit that recruited and trained mission-minded individuals and later became an innovation strategist, helping organizations develop innovative products and services.
The key takeaways from Jay Nwachu's story are:
* The importance of finding one's own path and being open to change and new experiences
* The value of adapting to new environments and finding opportunities that align with one's values and passions
* The impact that innovation and entrepreneurship can have on closing the racial wealth gap and supporting social entrepreneurs
Jay's story is an inspiring testament to the power of perseverance, adaptability, and values-driven leadership.
This episode is brought to you by: SEVI - The first commercial real estate company committed to the four C’s: Commercial Real Estate, Community, Content, and Culture
https://seviproperties.com/
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