Tag Archives: Social Ecosystem

TIECON Social Enterprise Track Provides New Perspective

For the first time TIECON EAST – TiE Boston’s annual conference on entrepreneurship and innovation – had a dedicated track on Social Enterprise. The three panels in the track – ‘Healthcare Innovation in a Global Village’, ‘IT & Communications for the Developing World’ and ‘Feeding 9 Billion people’ – were all well attended and engaged the attentive audience with the incisive discussions. Here are some excerpts from an article I wrote for Lokvani about the sessions. Continue reading

How to multiply your social impact 2X to 6X

In 2005 Kiva launched a website that allowed individuals to provide small loans to needy entrepreneurs around the world. The money was directed through microfinance institutions (MFIs) to their customers. When the site launched it had only 7 businesses in Uganda. Then their story got picked up by the Daily Kos and donations started flooding their site. With all the subsequent publicity Kiva was unable to line up beneficiaries fast enough to keep up with the donations coming in and for a while had to put a hold on its site.

Fast forward to 2008, Bala Vishwanath, an alum of top Indian tech and management schools – IIT and IIM – saw an opportunity to unstick the Kiva bottleneck and to multiply the social impact of every dollar. He quit his job and worked to setup www.UnitedProsperity.org United Prosperity helps provide loan guarantees that enable poor entrepreneurs to borrow from Microfinance Institutions to build their enterprises in developing countries. Continue reading

The Blue Sweater a book by Acumen Fund founder Jacqueline Novogratz

I had gotten a copy of Acumen Fund founder, Jacqueline Novogratz’s, book “The Blue Sweater” a couple of months ago and had kept promising myself that I would read it. Finally as I was leaving on a short trip to India, I threw it in my bag hoping to get to it during my visit. As the long 15 plus hour trip from Newark to Bombay stretched before me, I settled myself in as best as I could and opened the book expecting to read a few pages and then sleep as much as possible for the rest of the flight.

Once I started reading I was hooked. Before I knew it I had plowed through the entire volume. This is an extraordinary and powerful book. My personal interest in social entrepreneurship, particularly in solving issues in the developing world, had led me to peruse many books in the field – from the seminal one by David Bornstein to Jeff Sachs and Prof. Yunus. Each provided a perspective on development with solutions and suggestions. Yet somehow this book was different. Continue reading

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