Funds Nurture Entrepreneurs With Far-Out Ideas to Benefit Society

Funds Nurture Entrepeneurs With Far-Out Ideas to Benefit Society 1

Fabrizio Costantini/The New York Times/Redux

The nonprofit Bizdom, started by the billionaire founder of Quicken Loans, provides promising entrepreneurs like James Smith Moore, of Jimmy Kicks, with $25,000, mentoring, and connections to wealthy investors.

While working in an impoverished area in Peru, Liz Morris hit upon the idea of building a better outhouse.

Ms. Morris, who has degrees in packaging science and engineering, founded Sanitation Creations in May 2011. The two-person start-up, based in Raleigh, N.C., is developing a waterless, odorless toilet that Ms. Morris says will improve hygiene in developing countries.

Her academic background did little to prepare for her becoming a CEO—“I spent a lot of time in