The Hitachi Foundation, in partnership with Village Capital and the Investors' Circle, has announced the launch of a business accelerator initiative to address social problems in disadvantaged communities.

The initiative, SOURCE: Solutions from Our Country's Entrepreneurs, aims to address the existing disconnect between investors and social entrepreneurs by providing the latter with mentoring and investment capital early in the enterprise-building process. To that end, up to fifteen entrepreneurs will be selected to participate in a comprehensive three-month business accelerator program, at the conclusion of which participants will select the two most promising businesses to receive investment capital from Village Capital and its co-investors.

In its first year, the initiative, which also is supported by the Rockefeller Foundation and Sorenson Global Impact Investing Center, will focus on projects that address financial inclusion, healthcare, energy, and agriculture (planned).

"SOURCE supports our belief that business has an essential role to play in addressing many of the complex challenges of our time," said Hitachi Foundation president and CEO Barbara Dyer. "SOURCE will strengthen the U.S. entrepreneurial economy by connecting early stage ventures with investors — creating business solutions for critical social issues."