the 2021 Cohort
RELATIONSHIP, TRUST, AND
COMMUNITY WEALTH BUILDING
These past 9-weeks with our first ALKHEMY cohort of entrepreneurs was indescribable...or at least that's what we'd say if we didn't have so much to share!
We provided a rigorous curriculum to this year's cohort that was based in the principles of Community Wealth Building, and our cohort still managed to turn the Kheprw team into the students.
Please enjoy this walkthrough of our 2021 cohort's many successes, and learn about how you can support their businesses!
ALKHEMY BUILDS COMMUNITY WEALTH
IN FOUR PRIMARY AREAS
INTELLECTUAL CAPITAL
We train and mentor each member of our cohort, providing them with a holistic education about not only entrepreneurship, but self-development, community development and tools for community wealth building. We will help entrepreneurs identify their strengths, areas to attain master and connect them with mentors and technical advisors.
CULTURAL CAPITAL
We are seeking to connect diverse community members with others who have a shared desire to create a culture of mutual care, interdependence and agency. There is a flourishing culture in Indianapolis, consisting of creatives of all kinds, community wealth focused entrepreneurs, elders with rich knowledge and experience and innovators with big ideas. We aim to unite this collective power and passion in the city for the common good of the community.
FINANCIAL CAPITAL
We are mentoring and supporting entrepreneurs to help them operate the best businesses they can, with the focus of creating economic opportunity for the broader community. The idea is to support the circulation of dollars, services and goods within our community, putting money directly into the pockets of community members.
WHAT ARE SOME EXAMPLES OF HOW TO BUILD COMMUNITY WEALTH?
Worker-Owned Businesses
We are mentoring and supporting entrepreneurs to help them operate the best businesses they can, with the focus of creating economic opportunity for the broader community. The idea is to support the circulation of dollars, services and goods within our community, putting money directly into the pockets of community members.
Housing Co-ops
Housing cooperatives are the joint effort of a number of community members coming together to purchase a property and either living in or renting it out communally. This allows for community members to build the value of their property, property ownership being one of the most commonly held and functional financial assets. It also helps owners build their credit, while reducing their housing costs.
Intergenerational Mentorship
The efforts of adults and elders to mentor and build caring relationships with children and young adults builds the collective intellectual capital, leadership capacity, social capital and cultural capital. These relationships create networks that support people when they need it and provide purpose to people when they can contribute their gifts to others.
Credit Unions
Communally-owned credit unions help community members have more direct control in how their money contributes to the development of their community. Members can reduce fees that penalize low-income individuals and increase access to loans and credit lines This can help build community wealth by making it easier for people to purchase homes or start and grow businesses.
ALKHEMY’S 7 PRINCIPLES FOR COMMUNITY WEALTH BUILDING
Taking inspiration from Nguzo Saba (7 principles of Kwaanza) we have defined our own principles for community wealth building rooted in our community’s cultural wealth and lived experiences.
Unity
We work together to create the future we want for ourselves, family and community.
Community-Reliance, Community Determination
Community direction on what improvements are needed, desired and working together bringing them into being.
Collective Ownership and Shared Wealth
We share resources, businesses, housing, land, money, time, talent.
Collective Work & Responsibility
We work together to solve our problems and create solutions that benefit us now, future generations, nature and all life forms.
Purpose
Life is sacred. In everything we do, we put life at the center and our actions are in harmony with and contribute to the health and well being of all life.
Culture
Through our life expressions of culture we build relationships with each other that speak to our shared bonds and that challenge, encourage, nurture and affirm who we are as a community.
Vision
To believe we can live as a caring, nurturing community and bring forth the best that is within us for the good of all present and future generations.