Category Archives: Social Ecosystem

ForSE 2009: Forum for Social Entrepreneurs on Oct 23 at Babson College

Once again we are holding our annual conference on Social Entrepreneurship – ForSE 2009: Forum for Social Entrepreneurs on Friday October 23. This time we are working together with Babson College’s Net Impact Undergrad organization to host it at Olin Hall on Babson College’s lovely Wellesley campus.

We also have a number of interesting panels and speakers and, for the first time, a Pitch contest that will allow emerging social entrepreneurs to wow a panel of seasoned judges.

The forum brings together social innovators, leading business professionals, investors, donors, academics, and students to help share new technology and business ideas that have significant social impact.

If you are interested in meeting emerging social entrepreneurs, hearing of innovative ideas for social impact and supporting young innovators as they launch their concepts, this is the event to attend. If you are an aspiring social entrepreneur, this is your chance to pitch your idea at the pitch contest and to wow a panel of seasoned judges.

This years keynoters will include Pamela Hawley who was a co-founder of Volunteer Match, one of the earliest online volunteer matching sites, and who later founded and currently runs UniveralGiving.org, an online site that channels donations and volunteer hours to non-profits around the world; Leonard Schlesinger, President of Babson College, one of the leaders in entrepreneurship; Andre Porter, Executive Director of Massachusetts’ Office of Small Business and Entrepreneurship; and Carol Cone, Founder and Chairperson of Cone LLC, an innovator in Cause Branding and CSR programs for corporations.

We have tried to keep ForSE very affordable for our attendees, many of whom are students or starting non-profits and social entrepreneurs. The registration fee for attendees is nominal ($20 for students /$35 for affiliates of BU and TIE /$/75 for all others) for a full day conference including meals. However these discounted fees will only be available only until October 19th.

I urge you to sign up as soon as possible as the past two years we sold out days before the event and many were disappointed. We try to make the event as interactive and intimate as possible and keep total attendance capped to 250. If you are interested in attending I would encourage you to register soon. The fees will go up substantially after October 19th.

Click here for more info and to register.

Why we need Social Investors

The latest Time Magazine has a great article about social entrepreneur Reed Paget and his startup Belu that has grown from $13,000 in 2004 to nearly $4 million in 2008 while providing water in corn based bottles that can be composted and redeploying its profits to projects that bring clean water to deserving regions of the world.

In the article Paget says it was important “to remove the ‘We must maximize profit’ from our management system.” His objective is to provide maximal social and environmental benefit, like social businesses defined by Yunus. However the challenge for him is finding socially motivated investors. Over the past several years he has managed to raise $2.5 Million in 32 painstaking rounds of funding. Even environmental charities like Greenpeace do not see it in their purview to fund startups like his.

This is a classic example of the type of opportunity that makes business and social sense but is left hanging as there are not enough socially motivated investors willing to take this early stage risk. As we mentioned in earlier posts, this new market segment badly needs socially conscious investors who are willing to support early stage companies and to take a lower economic rate of return in exchange for greater social/environmental impact. Like Belu, many socially motivated businesses struggle with fundraising expending precious resources in multiple rounds of incremental funding instead of focusing on building and scaling their businesses.

Responding to Clayton Christensen’s article on Government’s potential role in Social Innovation

My recent post on Clayton Christensen’s article on Social Innovation resulted in several comments and responses questioning the appropriate role of the government in fostering social innovation. I do believe there is a role for government to play in encouraging growth in this sector. I believe the Office of Social Innovation is a well intentioned attempt by Obama of putting Social Innovation on the nation’s agenda. I also believe that the government should try to be a transparent facilitator where needed and then get out of the way and let the market work its way.

The single most critical issue for a young, startup social entrepreneur is the lack of a well structured ecosystem to encourage social innovation. This is where the government can play a significant role. Some of the things it can do are to: Continue reading

Some thoughts on Clayton Christensens article on Social Innovation

Clayton Christensen, who has written extensively on a number of strategic ideas, recently opined in The Huffington Post about the potential role the White House Office of Social Innovation could play. (The article was co-authored by Vanessa Kirsch who founded New Profit – an interesting organization itself espousing a venture philanthropy model) Continue reading

A conversation on Microfinance

Couple of months ago we had the privilege to host Mr. N. Srinivasan in Boston. Mr. Srinivasan is the author of the ‘Microfinance in India: State of the Sector Report 2008’. He also capped off his 25 year career at National Bank for Agriculture and Rural Development (NABARD) as Chief General Manager for his last 6 years.

Over an informal dinner with a number of interested locals, Mr. Srinivasan spoke extensively about the issues facing the current crop of Microfinance institutions (MFIs) in India. The recent focus on MFIs after Prof. Yunus got his Nobel Prize has increased the visibility for these institutions and has also accelerated the flow of funds to this sector creating almost another bubble.  From Boston, Mr. Srinivasan went to the San Francisco/Silicon Valley area where he met with Bhalchander (Bala) Vishwanath, who is himself a budding online micro lending entrepreneur. Continue reading