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Finance II: Raj Melville

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Information about Finance II: Raj Melville

Published on January 20, 2009

Author: lpnoonan

Source: slideshare.net

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Social Entrepreneurship TYE Presentation
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Social Entrepreneurship TiE Young Entrepreneurs Raj Melville January 10, 2009

Agenda What is Social Entrepreneurship? Social Challenges and Solutions Examples of Social Entrepreneurs Grameen Aravind Eye Clinics Agastya Getting Started Resources

What is Social Entrepreneurship?

Social Challenges and Solutions

Examples of Social Entrepreneurs

Grameen

Aravind Eye Clinics

Agastya

Getting Started

Resources

Key Ingredients of a Social Entrepreneur = + Social Activist Business pioneer Social Entrepreneur

What Is Social Entrepreneurship ? Business entrepreneurs change the face of business Social entrepreneurs play the role of change agents in the social sector Social entrepreneurs create sustainable solutions that change society for the better

Business entrepreneurs change the face of business

Social entrepreneurs play the role of change agents in the social sector

Social entrepreneurs create sustainable solutions that change society for the better

Business and Social Entrepreneurs Share Common Traits Strategic thinkers: Like business entrepreneurs, social entrepreneurs act upon what others miss Mission driven: Work hard to generate value Focused: Both entrepreneurs are intensely focused and hard-driving in their pursuit of a social vision Resourceful: They are skilled at mobilizing and motivating resources Results oriented: Driven to produce tangible results Challenge Seekers: Tackle major issues, opportunities or challenges Perseverance: Continue efforts despite obstacles

Strategic thinkers: Like business entrepreneurs, social entrepreneurs act upon what others miss

Mission driven: Work hard to generate value

Focused: Both entrepreneurs are intensely focused and hard-driving in their pursuit of a social vision

Resourceful: They are skilled at mobilizing and motivating resources

Results oriented: Driven to produce tangible results

Challenge Seekers: Tackle major issues, opportunities or challenges

Perseverance: Continue efforts despite obstacles

What sets Social Entrepreneurs Apart? Social Entrepreneurs are innovative, resourceful, and results oriented addressing the root cause of a social issue As leaders, social entrepreneurs draw upon the best thinking in the business, nonprofit, and public policy worlds to develop strategies that maximize their social and economic impact "Social entrepreneurs are not content just to give a fish or teach how to fish. They will not rest until they have revolutionized the fishing industry." Bill Drayton, CEO, chair and founder of Ashoka Foundation

Social Entrepreneurs are innovative, resourceful, and results oriented addressing the root cause of a social issue

As leaders, social entrepreneurs draw upon the best thinking in the business, nonprofit, and public policy worlds to develop strategies that maximize their social and economic impact

"Social entrepreneurs are not content just to give a fish or teach how to fish. They will not rest until they have revolutionized the fishing industry." Bill Drayton, CEO, chair and founder of Ashoka Foundation

Social Entrepreneurship Governmental Organizations For Profit Businesses Non-Profits Social Entrepreneurs

The Non-profit Sector Total US Non Profit Organizations (2006): 1,478,194 904,313 Public Charities Organizations do not pay federal tax Donations are tax deductible 109,852 Private Foundations Created to distribute money to charities or individuals About 29 % of Americans over the age of 16 volunteered in 2005 In 2004, public charities reported nearly $1.1 trillion in total revenues (Source: National Center for Charitable Statistics) Total charitable giving in the U.S (2007): $306.39 billion, consists of 2.2 % of GDP (Source: Giving USA Foundation)

Total US Non Profit Organizations (2006): 1,478,194

904,313 Public Charities

Organizations do not pay federal tax

Donations are tax deductible

109,852 Private Foundations

Created to distribute money to charities or individuals

About 29 % of Americans over the age of 16 volunteered in 2005

In 2004, public charities reported nearly $1.1 trillion in total revenues

(Source: National Center for Charitable Statistics)

Total charitable giving in the U.S (2007): $306.39 billion, consists of 2.2 % of GDP

(Source: Giving USA Foundation)

What Challenges do Social Entrepreneurs tackle? Social entrepreneurs typically address areas of unmet social need or social opportunity creation that the public or private sectors have failed to address Health Water/Sanitation Education Sustainable Infrastructure: Housing, Communications Renewable Energy Environmental Sustainability Food and Nutrition Women’s Issues Sustainable Agriculture & Technology Also see the UN Millennium Development Goals http:// www.un.org/millenniumgoals /

Social entrepreneurs typically address areas of unmet social need or social opportunity creation that the public or private sectors have failed to address

Health

Water/Sanitation

Education

Sustainable Infrastructure: Housing, Communications

Renewable Energy

Environmental Sustainability

Food and Nutrition

Women’s Issues

Sustainable Agriculture & Technology

Also see the UN Millennium Development Goals http:// www.un.org/millenniumgoals /

SEs Bring New Approaches to Social Issues New Design Solutions Process Redesign – Aravind Eye Care ( www.aravind.org ) Product Redesign – Jaipur Foot Distribution/Logistics – Saafwater www.saafwater.com Infrastructure/Technology – Grameen Phone New Business Models Micro-Finance Grameen Cooperatives SEWA http://www.sewa.org Muthu Velayutham, Gram Mooligai Co Ltd http://www.new-ventures.org/arquivos/GramMooligai.pdf Triple Bottom Line New Funding Models Venture Philanthropy Socially responsible funds. Calvert Funds Acumen Fund Creative Leverage models

New Design Solutions

Process Redesign – Aravind Eye Care ( www.aravind.org )

Product Redesign – Jaipur Foot

Distribution/Logistics – Saafwater www.saafwater.com

Infrastructure/Technology – Grameen Phone

New Business Models

Micro-Finance

Grameen

Cooperatives

SEWA http://www.sewa.org

Muthu Velayutham, Gram Mooligai Co Ltd http://www.new-ventures.org/arquivos/GramMooligai.pdf

Triple Bottom Line

New Funding Models

Venture Philanthropy

Socially responsible funds.

Calvert Funds

Acumen Fund

Creative Leverage models

Examples of Social Entrepreneurs Grameen Aravind and Aurolab Agastya Water Centric (presenting today) Additional examples: “ How to Change the World” by D. Bornstein “ The Fortune at the Bottom of the Pyramid” by C. K. Prahalad www.Ashoka.org

Grameen

Aravind and Aurolab

Agastya

Water Centric (presenting today)

Additional examples:

“ How to Change the World” by D. Bornstein

“ The Fortune at the Bottom of the Pyramid” by C. K. Prahalad

www.Ashoka.org

Grameen Grameen Bank was started by Prof. Muhammad Yunus in Bangladesh in 1976 ( http://www.grameen-info.org/ ) Social goal was to Extend banking facilities to poor men and women who otherwise would not get bank loans Eliminate the exploitation of the poor by money lenders Create opportunities for self-employment for the large number of unemployed people in rural Bangladesh Currently Grameen has 7.61 million borrowers, 97 per cent of whom are women 2,535 branches in 83,343 villages Loan recovery rate is 98.24 per cent. 2008 Projected loan disbursement of US $ 874 million For profit concern generating dividends to borrowers who are shareholders

Grameen Bank was started by Prof. Muhammad Yunus in Bangladesh in 1976 ( http://www.grameen-info.org/ )

Social goal was to

Extend banking facilities to poor men and women who otherwise would not get bank loans

Eliminate the exploitation of the poor by money lenders

Create opportunities for self-employment for the large number of unemployed people in rural Bangladesh

Currently Grameen has

7.61 million borrowers, 97 per cent of whom are women

2,535 branches in 83,343 villages

Loan recovery rate is 98.24 per cent.

2008 Projected loan disbursement of US $ 874 million

For profit concern generating dividends to borrowers who are shareholders

Grameen

Grameen What did they do differently? Went after untapped sector Were willing to take a risk with uncollateralized loans to poor Focused on women entrepreneurs Introduced new business processes No legal paperwork for loans Created self help groups to ensure repayment thru social pressure Simplified loan repayments with weekly meetings for incremental loan payments Created competitive product Set market rates of interest versus usurious money lender rates Websites like www.kiva.org and www.microplace.org now allow individuals to help entrepreneurs in developing countries

What did they do differently?

Went after untapped sector

Were willing to take a risk with uncollateralized loans to poor

Focused on women entrepreneurs

Introduced new business processes

No legal paperwork for loans

Created self help groups to ensure repayment thru social pressure

Simplified loan repayments with weekly meetings for incremental loan payments

Created competitive product

Set market rates of interest versus usurious money lender rates

Websites like www.kiva.org and www.microplace.org now allow individuals to help entrepreneurs in developing countries

Aravind Eye Hospital Founded in 1976 by Dr. G. Venkataswamy, in Madurai, India ( http://www.aravind.org/ ) A social organization committed to the goal of elimination of needless blindness through comprehensive eye care services. Every year the Aravind Eye Care System Sees over 2.4 million patients Does over 200,000 cataract operations, nearly half of them free Average cost at one hundredth of that in the US. Doctors conduct over 2000 operations a year, over 6 times the national average Aurolab, a manufacturing spinoff, makes interocular lenses to world class standards at tenth of international cost ($4-5 versus $100 -$150)

Founded in 1976 by Dr. G. Venkataswamy, in Madurai, India ( http://www.aravind.org/ )

A social organization committed to the goal of elimination of needless blindness through comprehensive eye care services.

Every year the Aravind Eye Care System

Sees over 2.4 million patients

Does over 200,000 cataract operations, nearly half of them free

Average cost at one hundredth of that in the US.

Doctors conduct over 2000 operations a year, over 6 times the national average

Aurolab, a manufacturing spinoff, makes interocular lenses to world class standards at tenth of international cost ($4-5 versus $100 -$150)

Aravind Eye Hospital What did they do differently? Focused on the social objective "But Aurolab sells the lenses for less, not only because their costs are lower but because they chose to price them lower – because our goal is maximizing service rather than maximizing profit." Streamlined the entire operation process Setup as a production line Increased the utilization of doctors and equipment Built new multi-tiered pricing models Cross subsidized free patients with higher charges for those who could pay

What did they do differently?

Focused on the social objective

"But Aurolab sells the lenses for less, not only because their costs are lower but because they chose to price them lower – because our goal is maximizing service rather than maximizing profit."

Streamlined the entire operation process

Setup as a production line

Increased the utilization of doctors and equipment

Built new multi-tiered pricing models

Cross subsidized free patients with higher charges for those who could pay

Agastya Founded in 1999 by Ramji Raghavan in Bangalore, India ( http://www.agastya.org/ ) Non-profit focused on transforming education in India through a scalable and interactive education model India, one of the most populous countries, has over 35% illiteracy rate Rural schools are poorly staffed with teachers with inadequate training Created a science training center with distributed centers in each rural district Developed a new style of interactive teaching Agastya Mobile Labs take science education out remote schools Mobile Labs reach over 800 rural teachers and 40,000 students a year Over 30 Agastya Mobile Labs make it largest science outreach program in the world Results show passing rates at Agastya schools up from 40% to 96%. Having touched over 80,000 teachers and 2.5 million children, Prime Minister’s National Knowledge Commission has recommended the ‘Agastya model’ for nationwide dissemination

Founded in 1999 by Ramji Raghavan in Bangalore, India ( http://www.agastya.org/ )

Non-profit focused on transforming education in India through a scalable and interactive education model

India, one of the most populous countries, has over 35% illiteracy rate

Rural schools are poorly staffed with teachers with inadequate training

Created a science training center with distributed centers in each rural district

Developed a new style of interactive teaching

Agastya Mobile Labs take science education out remote schools

Mobile Labs reach over 800 rural teachers and 40,000 students a year

Over 30 Agastya Mobile Labs make it largest science outreach program in the world

Results show passing rates at Agastya schools up from 40% to 96%.

Having touched over 80,000 teachers and 2.5 million children,

Prime Minister’s National Knowledge Commission has recommended the ‘Agastya model’ for nationwide dissemination

Agastya

Agastya What did they do differently? Disruptive business model Developed a unique teaching model Break the typical mold of teacher/student interaction Redesigned the supply chain Took classes out to the student Matched resources to talent available High school students as capable instructors Scales reasonably well Engage the ‘customer’ i.e. student Created a product that satisfied both student and teacher’s needs

What did they do differently?

Disruptive business model

Developed a unique teaching model

Break the typical mold of teacher/student interaction

Redesigned the supply chain

Took classes out to the student

Matched resources to talent available

High school students as capable instructors

Scales reasonably well

Engage the ‘customer’ i.e. student

Created a product that satisfied both student and teacher’s needs

Getting Started Social entrepreneurs play the role of change agents in the social sector, by: Adopting a mission to create and sustain social value (not just private value) Recognizing and relentlessly pursuing new opportunities to serve that mission Engaging in a process of continuous innovation, adaptation, and learning Acting boldly without being limited by resources currently in hand Exhibiting heightened accountability to the constituencies served and for the outcomes created (Source: The Meaning of Social Entrepreneurship, J. Gregory Dees) Define a clear vision around a social issue or challenge Identify market opportunity and define innovative or disruptive solutions Build a sustainable business model Clearly define social impact metrics Recruit and attract resources and volunteers

Social entrepreneurs play the role of change agents in the social sector, by:

Adopting a mission to create and sustain social value (not just private value)

Recognizing and relentlessly pursuing new opportunities to serve that mission

Engaging in a process of continuous innovation, adaptation, and learning

Acting boldly without being limited by resources currently in hand

Exhibiting heightened accountability to the constituencies served and for the outcomes created

(Source: The Meaning of Social Entrepreneurship, J. Gregory Dees)

Define a clear vision around a social issue or challenge

Identify market opportunity and define innovative or disruptive solutions

Build a sustainable business model

Clearly define social impact metrics

Recruit and attract resources and volunteers

Funding Sources of funds Family and Friends Competitions Fundraising events Foundations and Grants Social Investors

Sources of funds

Family and Friends

Competitions

Fundraising events

Foundations and Grants

Social Investors

Resources Funding Sources Saffron Circle: http:// www.saffroncircle.org / Echoing Green: http:// www.echoinggreen.org / Ashoka: http://www.ashoka.org/ Acumen Fund: http:// www.acumenfund.org / Agora Partnerships: http:// www.agorapartnerships.org / New Profit: http:// www.newprofit.org / Draper Richards Foundation: http:// www.draperrichards.org / Social Innovation Forum: http:// socialinnovationforum.org / MIT IDEAS Competition: http://web.mit.edu/ideas Changemakers: http://www.changemakers.net/ Ashoka’s Youth Venture: http://www.genv.net/ University Network: http:// www.universitynetwork.org

Funding Sources

Saffron Circle: http:// www.saffroncircle.org /

Echoing Green: http:// www.echoinggreen.org /

Ashoka: http://www.ashoka.org/

Acumen Fund: http:// www.acumenfund.org /

Agora Partnerships: http:// www.agorapartnerships.org /

New Profit: http:// www.newprofit.org /

Draper Richards Foundation: http:// www.draperrichards.org /

Social Innovation Forum: http:// socialinnovationforum.org /

MIT IDEAS Competition: http://web.mit.edu/ideas

Changemakers: http://www.changemakers.net/

Ashoka’s Youth Venture: http://www.genv.net/

University Network: http:// www.universitynetwork.org

Resources Sites about Social Entrepreneurship and Social Innovation Ashoka’s Website for Social Innovation: http:// www.changemakers.net / PBS Series on Social Entrepreneurs: http:// www.pbs.org/opb/thenewheroes / The Skoll Foundation: http:// www.skollfoundation.org / The Schwab Foundation: http:// www.schwabfound.org/sf/index.htm Draper Richards Foundation: http:// www.draperrichards.org / Duke University: http:// www.caseatduke.org / Columbia University: http://www4.gsb.columbia.edu/socialenterprise/ Harvard University: http:// www.hbs.edu/socialenterprise / Stanford University: http:// www.gsb.stanford.edu/csi / Bill & Melinda Gates Foundation: http:// www.gatesfoundation.org/default.htm Clinton Foundation: http:// www.clintonfoundation.org/index.htm Google.org: http:// www.google.org /

Sites about Social Entrepreneurship and Social Innovation

Ashoka’s Website for Social Innovation: http:// www.changemakers.net /

PBS Series on Social Entrepreneurs: http:// www.pbs.org/opb/thenewheroes /

The Skoll Foundation: http:// www.skollfoundation.org /

The Schwab Foundation: http:// www.schwabfound.org/sf/index.htm

Draper Richards Foundation: http:// www.draperrichards.org /

Duke University: http:// www.caseatduke.org /

Columbia University: http://www4.gsb.columbia.edu/socialenterprise/

Harvard University: http:// www.hbs.edu/socialenterprise /

Stanford University: http:// www.gsb.stanford.edu/csi /

Bill & Melinda Gates Foundation: http:// www.gatesfoundation.org/default.htm

Clinton Foundation: http:// www.clintonfoundation.org/index.htm

Google.org: http:// www.google.org /

Resources Search for Volunteer opportunities or post openings Volunteer Match: http:// www.volunteermatch.org ./ Network for Good: http:// www.networkforgood.org / Idealist.org: http:// www.idealist.org / Charity and Foundation Evaluation/Search sites Guidestar: www.Guidestar.org Charity Navigator: http:// www.charitynavigator.org / Global Giving: http:// www.globalgiving.com /

Search for Volunteer opportunities or post openings

Volunteer Match: http:// www.volunteermatch.org ./

Network for Good: http:// www.networkforgood.org /

Idealist.org: http:// www.idealist.org /

Charity and Foundation Evaluation/Search sites

Guidestar: www.Guidestar.org

Charity Navigator: http:// www.charitynavigator.org /

Global Giving: http:// www.globalgiving.com /

Further Reading How to Change the World: Social Entrepreneurs and the Power of New Ideas, Updated Edition by David Bornstein The Fortune at the Bottom of the Pyramid by C. K. Prahalad Creating a World Without Poverty: Social Business and the Future of Capitalism by Muhammad Yunus Business Planning for Enduring Social Impact: A Social-Entrepreneurial Approach to Solving Social Problems , Andrew Wolk & Kelley Kreitz Capitalism at the Crossroads: Aligning Business, Earth, and Humanity by Stuart L. Hart The End of Poverty: Economic Possibilities for Our Time by Jeffrey D. Sachs Banker To The Poor: Micro-Lending and the Battle Against World Poverty by Muhammad Yunus Leaving Microsoft to Change the World: An Entrepreneur’s Odyssey to Educate the World’s Children by John Wood Three Cups of Tea: One Man’s Mission to Promote Peace . . . One School at a Time by Greg Mortenson & David Oliver Relin

How to Change the World: Social Entrepreneurs and the Power of New Ideas, Updated Edition by David Bornstein

The Fortune at the Bottom of the Pyramid by C. K. Prahalad

Creating a World Without Poverty: Social Business and the Future of Capitalism by Muhammad Yunus

Business Planning for Enduring Social Impact: A Social-Entrepreneurial Approach to Solving Social Problems , Andrew Wolk & Kelley Kreitz

Capitalism at the Crossroads: Aligning Business, Earth, and Humanity by Stuart L. Hart

The End of Poverty: Economic Possibilities for Our Time by Jeffrey D. Sachs

Banker To The Poor: Micro-Lending and the Battle Against World Poverty by Muhammad Yunus

Leaving Microsoft to Change the World: An Entrepreneur’s Odyssey to Educate the World’s Children by John Wood

Three Cups of Tea: One Man’s Mission to Promote Peace . . . One School at a Time by Greg Mortenson & David Oliver Relin

Questions? Contact me Raj Melville Email: [email_address] Blog: http://socialecosystem.wordpress.com/

Contact me

Raj Melville

Email: [email_address]

Blog: http://socialecosystem.wordpress.com/

Social Entrepreneurs Unlike traditional business entrepreneurs, social entrepreneurs primarily seek to generate "social value" rather than profits. And unlike the majority of non-profit organizations, their work is targeted not only towards immediate, small-scale effects, but sweeping, long-term change. http://www.pbs.org/opb/thenewheroes/whatis/index.html

Unlike traditional business entrepreneurs, social entrepreneurs primarily seek to generate "social value" rather than profits. And unlike the majority of non-profit organizations, their work is targeted not only towards immediate, small-scale effects, but sweeping, long-term change.

http://www.pbs.org/opb/thenewheroes/whatis/index.html

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