Category Archives: venture philanthropy

Obama’s effort to address Social Innovation

I had previously written about the impending Service Act and President Obama’s editorial support for this legislation.

Well the day finally arrived when this legislation was signed into law by the President. On April 21, 2009, at a signing ceremony attended by Senator Edward Kennedy, after whom the act is named, President Obama said:

“We’re doing this because I’ve always believed that the answers to our challenges cannot come from government alone.”

“Our government can help to rebuild our economy and lift up our schools and reform health-care systems and make sure our soldiers and veterans have everything they need. But we need Americans willing to mentor our eager young children, or care for the sick, or ease the strains of deployment on our military families.”

As part of the legislation, a new White House Office of Social Innovation has been created. Sonal Shah, most recently heading Google.org’s global development programs has been tapped to head the office. While we await the official announcement, philanthropy sites have been eagerly abuzz with the news.

Yesterday, Sonal addressed the Global Philanthropy Forum in Washington DC, where she was listed as “Deputy Assistant to the President and Director Office of Social Innovation and Civic Participation”. In her remarks to the audience, she outlined the three key areas the new office would focus on.

  • To find out “what are the innovations that are taking place”
  • To provide money to innovative nonprofit projects
  • To promote national service and volunteerism

You can find more information about her talk and additional conjecture about the plans for this office at the Chronicle of Philanthropy site.

Sonal’s experience in the private sector and her work with non-profits together with the charter of the new office, provides innovative social entrepreneurs with a new opportunity for funding and support.

Jacqueline Novogratz – Legatum Lecture at MIT

We are a connected world said Jacqueline as she described the story of her blue sweater, also the title of her recently published book. Once discarded by her at Goodwill, it turned up 25 years later in Rwanda where she found it on a boy in the countryside.

Speaking at the Legatum Center’s Lecture series at MIT, she described the innovative work of Acumen fund and how it helps build social solutions through its venture philanthropy.

She prefaced her talk by some of her observations from her work helping to build enterprises around the world that she undertook since her time in Rwanda.

  • Dignity is more important than wealth for the human spirit.
  • Traditional models of charity won’t solve problems of poverty.
  • Markets can’t solve poverty. 100 Million people went back into poverty last year and that is what happens when you only rely on market forces to solve these problems.
  • What is needed is patient capital that will address these problems

Continue reading

Cover the basics – what to do when raising capital

Following up on the level headed advice that Chuck Lacy gave prospective social entrepreneurs, I came across a recent post on one of VC blogs that is equally relevant. Here are some excerpts, you can see the entire article at

Cover the basics before you raise capital

… We all know that coming up with market sizing and revenue forecasts for a startup is as accurate as the weatherman predicting the weather.  That being said, VCs want to understand the logic behind the numbers as much as the numbers themselves. Continue reading

Interview on Social Entrepreneurship

I was recently interviewed by New England’s largest e-magazine for South Asians, lokvani.com about my views on social entrepreneurship. You can find the full interview at their site here.

“The passage of the Edward Kennedy Serve America Act this week marks the coming of age of Social Entrepreneurship (SE)” says Raj Melville, who is one of the co-founders of the TIE-SE SIG. He talked to Lokvani about this concept which combines for-profit and non-profit work by entrepreneurs to address a social issue in a sustainable and scalable manner. It has now become the new buzz word. (from Lokvani.com)

Bill Drayton – Social Entrepreneurship’s Rock Star

I was lucky to attend the HBS SE Conf 10th Anniversary Keynote Panel.  The panel consisted of Bill Drayton, founder of Ashoka and granddaddy of social entrepreneurship, David Gergen, presidential advisor emeritus and ubiquitous political commentator, Jon Greenblatt, founder of Ethos water, and Clara Miller, CEO of Nonprofit fund. More on the panel in a later post.

The hall was packed. Over a thousand people filled the room, lined the wall and crowded the passageways. It was great to see the energy behind this. Continue reading