World's First Virtual Nation for Entrepreneurs, XL Nation, Officially Incorporates

Sydney, Australia, April 22, 2010 -- XL Nation, the world’s first virtual nation for entrepreneurs, became officially incorporated on XL National Day, March 31. On April 15, the formal agreement was signed between XL Nation Director Katrina McGilchrist and Roger James Hamilton, chairman and co-founder of XL Group, an international social enterprise that unites and empowers entrepreneurs.

This latest development takes place approximately one year after XL Nation was launched at the first XL National Day on March 31, 2009. On that historic day, members of XL Results Foundation-which was established in 2002-declared themselves an interdependent nation. The resulting XL Nation distinguished itself as a borderless global nation, encompassing a network of citizens spanning 50 cities and 28 countries.

XL, which stands for "Extraordinary Lives," reflects a bold call to action to the social entrepreneurs or "Citizens" who comprise XL Nation. XL Nation is a global society of like-minded individuals working collaboratively toward achieving World Wide Wealth. Its objective: to provide a worldwide foundation of learning and networking resources to enhance entrepreneurs’ ability to create and contribute wealth. However, XL Nation seeks to do more than simply generate profits. Its overriding goal is to create and utilize wealth to end poverty and environmental degeneration.

XL Nation is a revolutionary organization that is ushering in a new paradigm in social change. It links three often-conflicting components to effective change-high trust, leveraged technology, and easy participation-within the structure of a virtual nation. The organization maintains its own global citizenship, Declaration of Interdependence and goal of leveraging its collective power to create and contribute wealth throughout the world.

"This new structure of a virtual nation combines the technology of social media with the positive components of traditional nations, which operate with a common citizenship, language and market structure," Martin Jimmink, XL Nation Chairman said. "While traditional nations are bound by an imperative to protect their land and national interest, XL Nation does not, enabling its citizenship and governance to have a full focus on global change."

In the past year, more than 1,600 social entrepreneurs and change makers have created over 200 groups of purpose as XL Citizens within their own social network over the past year. XL Citizens have a common purpose and code of conduct, which has led to a high speed of trust and sharing of resources, connections and information in building their enterprises and growing their social impact.

Citizens, who must apply or be invited for membership, pay $360 each year to join XL Nation. Citizenship entitles individuals to interact with each other and XL Nation’s founding members online and in local circles. Citizens are assigned to a specific Circle Leader and Circle Group, where they can share their experiences and support in the areas of knowledge, opportunities, successes, measures and causes. This results in an ever-expanding global library of social profit. "The new structure of XL Nation has enabled change makers to share their projects effectively with other change makers within an environment that automatically results in support and resources, while also spreading awareness," McGilchrist said.

For example, on the most recent XL National Day, Dr. Phyllis SantaMaria from Microfinance without Borders called in from Nairobi to discuss the challenges microfinancing is facing in Africa; Maya Shahani phoned in from Mumbai to report on the Sage Foundation’s progress in supporting slum children; and Andrew Parker from Dolphcom Australia reported on his success in gaining the first license to swim with Dolphins in New South Wales. "Each shared their strategies and received support in a forum unique in its reach and diversity-where the common factor is not on a particular cause or country-but on shared strategies for effective change," McGilchrist said.

As evidence of the power of social entrepreneurs, the Ashoka Impact Study 2010 reported that more than 80 percent of its fellows had changed the rules that govern our societies and market systems. The report by Ashoka, the global association of the world’s leading social entrepreneurs, acknowledges the ability of entrepreneurs to shift policy and the rules of the game. "This is the game-changing approach that XL Nation is embodying," Hamilton said.

For more information about XL Nation, please visit http://www.xlnation.org. The Ashoka Impact Study 2010 is available online at http://www.ashoka.org/story/ashoka-releases-impact-study-2010.

XL Nation is a revolutionary organization that is ushering in a new paradigm in social change. It links three often-conflicting components to effective change-high trust, leveraged technology, and easy participation-within the structure of a virtual nation. The organization maintains its own global citizenship, Declaration of Interdependence and goal of leveraging its collective power to create and contribute wealth throughout the world.

Katrina McGilchrist
XL Nation
OneLife Centre
12/84 Casua Drive
Varsity Lakes 4227
Gold Coast, Australia
+617 5669 0600
xlnation@xlnation.org
http://www.xlnation.org

This release was published on openPR.