Monday, June 14, 2010, 2:41pm PDT | Modified: June 14, 2010, 2:41 PM

PSU adds two to its social business incubator

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Portland State University's School of Business Administration has added two businesses to its Social Innovation Incubator launched earlier this year.

The new members include Portland-based Central City Concern and The Tipping Bucket, based in Utah.

Supporting initiatives with potential to mitigate social and environmental problems, the incubator provides business advice, free MBA labor and access to its network of investors and experts.

The Central City Concern, a nonprofit aiming to end homelessness, will work with the program to develop a social enterprise designed to provide jobs for formerly homeless clients while making its volunteer program financially sustainable.

The Tipping Bucket joins the incubator to work on its platform, which uses social media and the internet to fund socially responsible projects.

“We are very excited to round out our portfolio with these exciting organizations,” said Cindy Cooper, Social Innovation Incubator director in a news release. “They represent diverse approaches to social issues and are breaking new ground for social good and our collective well-being.”

The founding members of the incubator include medical device company Preciva and Sustainable Harvest, recently recognized by Bloomberg Businessweek.