Hum Hain HindustaniThe Global Millennium Classilmedsilmedsanasmarkmawdesignsilmeps


the3h | glomc00 | ilmeps | mawdesigns | anasmark | ilmeds | read | contact |

Entrepreneurship & Innovation

Mohammad Anas Wahaj | 25 dec 2019

Social enterprises can become an important pillar of Indian economy just like corporations and businesses. India has more than two million social enterprises that include nonprofits, for-profits and hybrid models. According to a McKinsey study, 'impact investors' in India poured a total of US$ 5.2 billion between 2010 and 2016, with substantial focus on sectors like financial inclusion and clean energy. A survey conducted by Brookings India found that 57% of the social enterprises identify access to debt and equity as a barrier to growth and sustainability. In the budget Indian government proposed a social stock exchange (SSE) to list social enterprises and voluntary organisations. Suresh K. Krishna, MD and CEO, and Geet Kalra, portfolio associate, at Yunus Social Business Fund, explain what benefits this social stock exchange will bring to the social enterprise ecosystem and suggest that careful planning is needed in designing it. They explain, 'SEBI (Securities and Exchange Board of India) set up its working committee on SSEs on September 19, however, many experts have already proposed distilling learnings from those of other countries. Some of these exchanges are either information sites, like in the case of the London Stock Exchange, or list nonprofit projects only. Canada's Social Venture Connexion (SVC) and Singapore's Impact Investment exchange are more advanced in terms of accreditation, valuation and monitoring, whereas the Brazilian model didn't use such valuations at all. While formulating a similar product for India, we need to have an extensive as well as 'cautious' approach. There is no consensus in the wider social impact community about what is and isn't a social enterprise, therefore the definition itself first needs more objectivity...Once we have a shared frame of reference in place, we can design impact valuation parameters for social enterprises based on social and environmental mission, target beneficiaries, service delivery, stakeholder involvement, and impact measurement.' SSE listing will provide visibility to social enterprises and assist in attracting funds in the form of private equity and debt. Listing debt products on the SSE would encourage banks, NBFCs (Non-Banking Financial Company) and other investors to participate in the growth of social enterprises and enhancing their impact. Moreover, SSE impact valuation will encourage development of more innovative financial products. SME exchanges operated by BSE and NSE can also provide valuable learning in effectively designing SSE. Mr. Krishna and Mr. Kalra suggest, 'For a social stock exchange to meet its intended objectives, we need to take measures such as: educating market participants about the valuation metrics weighing both on social and financial returns; amplifying the efforts of creating and supporting social businesses; bringing policy and regulatory reforms to support investors, and facilitating research and development for small social enterprises.' Read on...

The Hindu: A social stock exchange will help in raising capital
Authors: Suresh K. Krishna, Geet Kalra


Mohammad Anas Wahaj | 13 aug 2019

Social enterprises tackle societal and environmental issues utilizing business concepts for the larger interest of the society and reinvest profits back to sustain themselves. They support in building inclusive economy. According to the most recent statistics, there are around 5600 social enterprises in Scotland with an economic contribution of around £2 billion, ranging from community co-operatives to housing associations, enterprising charities and more. Duncan Thorp, policy and communications manager at Social Enterprise Scotland, explains how social enterprises are contributing to Scotland's economy and advocates collaborations between them and private sector for greater economic and social benefits. He explains why engaging social enterprises with private sector is win-win - 'Firstly, social failure is bad for business. Unemployment, homelessness, drug addiction and other issues negatively impact on businesses. People without work and opportunity don't have money to spend on goods and services. Social enterprises work at the frontline to solve these social problems. Private sector businesses should also engage with social enterprises because they bring real benefit in terms of opening up new markets and new business opportunities. Joint bids for public contracts and similar partnership working are options too. Businesses can contract social enterprises into their supply chains. This could be a catering contract, graphic design, meeting space hire or something else. It's also about private sector employees volunteering in social enterprises, in a skills exchange, for learning and personal development.' He advocates three key areas of partnership work - consumer demand, supply chains and contracting and procurement. He suggests that building mutually beneficial relationships between social enterprises and private sector businesses paves the way for knowledge exchange, positively influencing business culture and build an economy that benefits all. Read on...

The Scotsman: Social enterprise is good for business - Duncan Thorp
Author: Duncan Thorp


Mohammad Anas Wahaj | 30 jun 2019

According to 'Annual Status of Education Report (Aser) 2017' by nonprofit Pratham, about 42% of rural youth between the ages of 14 and 18 were employed in January 2018, despite going to school. Among these, 79% were working in agriculture, while at the same time only 1.2% of the youth surveyed wanted to become farmers. India's rural population residing in about 600000 villages has not benefited substantially from economic growth and opportunities are limited, resulting in large migration of youth to urban areas in search for greener pastures. But, they are not well equipped in terms of education and skills, to compete in a challenging urban environment to avail better opportunities and respectable lifestyle. Education, coupled with skill development, is the key to bring them at par with their urban counterparts. Ashweetha Shetty, founder of Bodhi Tree Foundation, is trying to bridge this rural-urban divide by building confidence and self-esteem among young people living in rural areas. Explaining the work of her nonprofit, Ms. Shetty says, 'Our foundation works with rural youth between the ages of 17 and 23. We help them build life skills and enlighten them about opportunities. We achieve all this through intervention at our village centers. We have a residential program for girls, and we also work with district administrations on initiatives, particularly those which concern the children of sanitation workers. Most of the rural youth we help are usually first generation college goers. Bodhi Tree helps them to think about their future. These young kids have many inferiority complexes, and there is an information gap. We are trying to bridge that through our organization.' Regarding the life skills that her organization is trying to build, she says, 'We do self-development, self-awareness workshops, and provide exposure to opportunities - we help the children to discover what they want to do in life and understand their strengths and weaknesses. We enable them to develop themselves through public speaking and other skills. We also conduct workshops on resumé writing to help them achieve their goal.' Differentiating her nonprofit from skill building organizations, she says, 'Bodhi Tree is completely different from skill building organizations. We don't want to build a skill in someone and send the message that it's the only thing they can do. Skill building programs have no progression, no scope for dreaming. I feel it robs opportunities from the children. Children should have access to government jobs, schemes, internships - they should have knowledge and know what to do with it. I think that's the difference between us and skill building initiatives. Maybe our model is not working that well because we are not focused on one skill, but I think this is a conscious choice we have made where we don't tell people about what skills they can inculcate. Rather, we tell them what kind of dreams you should have, we make people realize their potential. For us, the immediate impact is more like standing up for yourself and going to college.' Read on...

Fair Observer: Helping India's Rural Youth Unlock Their Potential
Authors: Ankita Mukhopadhyay, Ashweetha Shetty


Mohammad Anas Wahaj | 17 apr 2019

Gen Z is one of the most connected and socially aware generations to enter the workforce. But for the progress of businesses and society in the right direction, experienced leaders need to encourage young people to pursue social entrepreneurship. Seven members of Forbes Nonprofit Council provide following suggestions - (1) Rupert Scofield, FINCA International: Educate Youth About Market-Based Solutions. (2) Geetha Murali, Room to Read: Celebrate Social Impact Companies. (3) Tom Van Winkle, Hinsdale Humane Society: Befriend Socially Responsible Organizations. (4) Kimberly Lewis, Goodwill Industries of East Texas, Inc: Show Impact In Real Ways. (5) Gloria Horsley, Open to Hope: Describe The Value On Their Terms. (6) Steven Moore, M.J. Murdock Charitable Trust: Invest In Communities That Bring Entrepreneurs Together. (7) Kila Englebrook, Social Enterprise Alliance: Leverage Media And Entertainment. Read on...

Forbes: Seven Ways To Encourage Gen Z Professionals To Pursue Social Entrepreneurship
Author: NA


Mohammad Anas Wahaj | 15 jan 2019

According to the recent report published by the British Council and the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), 'Developing an Inclusive and Creative Economy: The state of social enterprise in Indonesia', millenials are leading a surge in the creation of business that are working to create positive social and environmental impact. More than 70% of a surveyed sample group mentions that the social enterprises started in the last two years and about 50% of the social entrepreneurs are aged between 25 and 34 years. The reports estimates that there are more than 342000 social enterprises in the region. In Indonesia more than 1/5th of social enterprises work in the creative industries, contrary to other countries in Aisa-Pacific region, such as the Philippines, Sri Lanka and India, where agriculture, education and health dominate. Ari Susanti, a senior program manager for the British Council in Indonesia, says, 'Many young people want to work in an area where they can make change, not just earn a salary.' According to the World Bank, Indonesia is an emerging middle-income country that, over the last 20 years, has seen growth in GDP at the same time as poverty has been cut in half. These conditions are enabling the growth of social enterprises. Armida Salsiah Alisjahbana, executive secretary of UNESCAP, says, 'UN body would support the development of social enterprise as a key means of building an inclusive and creative economy. Social enterprise is an opportunity for Indonesia...This report provides a solid evidence base to inform future policies and strategies.' These social enterprises mainly support and benefit local communities, women and young people. Moreover, they have also become a substantial source of employment - the number of full-time workers employed by social enterprises increased by 42% from 2016 to 2017. The rise in social enterprises is also proving good for gender equality - the social enterprise workforce is estimated to be made up of 69% women and is responsible for a 99% increase of full-time female employees in 2016-17. Government, corporations and universities have all come together to offer their support to social enterprises. Bambang P. S. Brodjonegoro, economist and the Minister of National Development Planning of Indonesia, wrote in the introduction of the report, 'The government aims to be an active partner of social entrepreneurs and is committed to continue building and nurturing the social entrepreneurship ecosystem.' Read on...

Pioneers Post: Millennials lead social enterprise surge in Indonesia
Author: Lee Mannion


Mohammad Anas Wahaj | 23 oct 2018

Recent passing away of Microsoft's co-founder Paul Allen (b.21 jan 1953 - d.15 oct 2018) brings to the forefront his contributions, not only to technology and entrepreneurship, but also to education, arts, culture etc as part of his philanthropy. After leaving Microsoft's management in 1983, his philanthropic activities focused on the city of Seattle (US), his hometown. He endowed a separate school for computer science and engineering at the University of Washington. His investments in Seattle's South Lake Union locality has recast the city as an increasingly popular destination for young technologists. Some of his cherished contributions to the city's scene and skyline include artistic and athletic monuments to which he devoted a substantial portion of his wealth. He commissioned Frank Gehry to design a pop-culture museum. He also developed a children's center at the Seattle Public Library, funded an off-campus studio for the beloved public-radio station KEXP, and established a military-history museum outside the city. He was an ardent advocate of environmental protection, computational bioscience, and space exploration, donating millions of dollars to regional nonprofits. He invested in sports and acquired Seattle Seahawks at the time the team was planning to leave the city. In his memoir, 'Idea Man' (2011), responding to criticism that his philanthropy lacked focus, he wrote, 'At times, I cast my net too widely. But my choice of ventures wasn't arbitrary.' In 2000, the chairman of the architecture department at the University of Washington likened him to a modern Medici (an influential banking and political family of Florence, Italy). His contributions to entrepreneurship and technology are public knowledge. He recounted in his memoir regarding the initial mission of his venture with Bill Gates was, 'A computer on every desk and in every home.' Mr. Gates recently wrote, 'Paul foresaw that computers would change the world.' He influenced the technological innovations like point-and-click computing, word processing, and multi-button mouse. Mr. Allen attributed his entrepreneurial ambition and imagination to a wide-ranging autodidacticism and a natural passion for art and literature. Even though a technologist and part of a cut-throat and highly competitive industry, he understood that the products he designed were complements to preexisting lives, all of them rich and varied. He wrote in his memoir, 'That's a core element of my management philosophy. Find the best people and give them room to operate, as long as they can accept my periodic high-intensity kibitzing.' Read on...

The New Yorker: The Rare Humanism Behind Paul Allen's Technological Vision
Author: Eren Orbey


Mohammad Anas Wahaj | 30 sep 2018

People with business education and experience are now getting inclined towards social enterpreneurship and enterprises. They are realizing that business skills and expertise can be utilized to provide solutions to society's challenges. Prof. Patrick Adriel H. Aure of De La Salle University (Philippines) explains the importance of encouraging social entrepreneurship among business students and shares research and programs that he conducts at the university. The program, Lasallian Social Enterprise for Economic Development (LSEED), involves incubating student-led social enterprises that partner with marginalized local communities, while Social Enterprise Research Network (SERN) undertakes research and advocacy activities. Regarding one of the research conducted in relation to business students and social enterprises, Prof. Aure says, 'Our statistical analysis suggested there are two factors that consistently influence business students' intention to engage in social entrepreneurial activities - (1) Their perceived support from friends, family, and other organizations. (2) Their prior experience in socially-oriented activities such as volunteering.' Research findings suggest - Design social enterprise advocacy campaigns to target group participation and not encourage students individually; Schools may want to consider creating a pipeline of activities that enrich students' socially-oriented experiences. Read on...

The Manila Times: Encouraging social entrepreneurship among business students
Author: Patrick Adriel H. Aure


Mohammad Anas Wahaj | 23 jun 2018

Food waste is a global concern and innovative solutions are needed to overcome it. Recent data from National Resources Defense Council found that the average American throws out 400 pounds of food a year, meaning that up to 40% of food grown on the farm bypasses the fork and ends up in a landfill. Globally, impact of food waste can be seen in terms of lost resources, wasted water (70% of fresh water is consumed in agriculture), increased levels of climate-change-producing gases, and diverted food that could contribute to alleviating hunger. According to the Food and Agriculture Organization of the United Nations (FAO) - It is estimated that annually over 60 trillion gallons of water are used to grow food that is ultimately wasted; Roughly 1/3 of the food produced for human consumption every year - approximately 1.3 billion tons - gets lost or wasted, representing nearly US$1 trillion. The cost of producing, harvesting, transporting, and disposing of this food isn't just financial - food waste accounts for about 8% of global climate pollution, more than the nations of India or Russia. According to one report, food waste throughout the US accounts for more than 60 million tons of waste, which translates into US$ 160 billion of produce and, according to the Environmental Protection Agency (EPA), represents over 21% of all waste in landfills. Adequate government policy alongwith solutions from for-profit and nonprofit sectors can successfully tackle this challenge. Sherri Welch, writing in Crain's Detroit, highlights two food-box subscription companies that sell produce and other food that retailers won't touch in the Detroit market. One is the Baltimore-based Hungry Harvest; the other is Toronto-based Flash Food. They are both for-profit companies. Denver's We Don't Waste is a nonprofit working on similar lines. Other nonprofits are working with hunger relief organizations and give their customers the option to buy a box of imperfect produce and donate it to a family in need. Phillip Knight, executive director of the Food Bank Council of Michigan, says, 'At this point, I think we are all working together to feed hungry neighbors, reduce waste and lessen the impact on the environment.' Other solutions include processing food waste as bioenergy. In the Pacific Northwest, Impact Bioenergy develops and manufactures bioenergy products that allow communities and commercial food waste generators to lessen their environmental footprint and conserve local soil resources while also reducing their waste disposal and energy costs. Policy approaches can also play an important role to shift the amount of food entering the waste stream. A May 2017 paper published by Harvard Law School's Food Law and Policy Clinic looks at the 2018 Farm Bill as a portal for changing the national conversation on food waste by integrating strategies and initiatives to support diversion efforts. Policy is a major focus on ReFed, one of the nation's leading nonprofits dedicated to addressing food waste. One of their initiatives in partnership with the Food Law and Policy Clinic is the US Food Waste Policy Finder, a tool that provides research on current food waste policy. Another promising approach is to incorporate the reuse of food that has been rejected by the conventional market into social enterprises. DC Central Kitchen is a job-training catering social enterprise that buys food seconds from farmers and uses that produce in the meals it serves to students in schools and catering event guests, even as the nonprofit also addresses the cycle of hunger. According to ReFed's 'Roadmap to Reduce US Food Waste by 20 Percent', an estimated 15000 permanent jobs could be created through policy initiatives alone. 'Wasted! The Story of Food Waste', a documentary produced by the late Anthony Bourdain, offer a glimpse of ways that nonprofits can expand their missions and collaborate with others to reduce food waste while improving the health and well-being of those in need. Read on...

Nonprofit Quarterly: For-Profit and Nonprofit Firms Devise Creative Ways to Reduce Food Waste
Author: Derrick Rhayn


Mohammad Anas Wahaj | 31 may 2018

According to British Council's 2016 report, 'The State of Social Enterprise in Bangladesh, Ghana, India and Pakistan', there are more than two million social enterprises in India with 24% of them led by women. India is one of the fastest growing economy and it needs more social entrepreneurs to tackle socio-economic problems. Women have to enhance their participation. But, existing stereotypes alongwith lack of investor confidence are major hurdles in the way. According to the World Bank, labour force participation rate for women in India has fallen from 37% in 2004-05 to 27.2% in 2017, which is quite low in comparison to developed nations. Increasing participation of women in workforce is vital for balanced growth of the country. Archana Raj, Team Leader at Save The Children, says 'Despite these low indicators, it is worth mentioning that there are new generation women who have broken the barriers of societal norms and regressive mindsets to pave way to the new world of entrepreneurship. Over the past few years, it has been observed that more women are choosing this as a career over other options, making a mark in the start-up ecosystem. Nonetheless, the aim must be to reach higher, which can help the rest of the women of our country to rise beyond the barriers and choose for themselves.' Jamie Cid, a social entrepreneur and founder of MobiHires, says, 'I think that there is a great opportunity for women social entrepreneurs in India, especially mothers returning to the workplace, who develop products and services based on their experience and solve problems in their community. With platforms like Sheroes, Reboot, SheThePeople and Lean In India initiatives that support and invest in women social entrepreneurs, this is the right time to be one.' In one of the blog posts of World Bank, Monique Villa, CEO of Thomson Reuters Foundation and founder of TrustLaw and Trust Women, gives the example of Ajaita Shah who works in rural regions of India. Shah's organisation, Frontier Markets, sells and distributes products to rural households. The organisation calls itself a 'for-profit business with a social mission'. According to the Thomson Reuters Foundation, India ranks 35th among countries that are the best for women social entrepreneurs, with the US, Canada and the UK occupying the top three positions. Manju Yagnik, vice chairperson of Nahar Group and member of Indian Merchant Chamber, says, 'I personally do not believe in male-female classifications. I do not think capabilities and talent can be differentiated as per gender. Today's women do not seek sympathy. They want equal opportunities when it comes to decision-making in financial capabilities, which is still male-dominant. Thankfully, with the modern society promoting and striving for gender equality, the position of women is improving year after year. Women entrepreneurs in India are bringing revolution and growth in the public and private sectors. With the help of government initiatives, they will grow further.' Manisha Gupta, founder and director of Start Up!, says, 'Regardless of whether a woman is a social or business entrepreneur, she has to negotiate through an ecosystem that has been structured for men to succeed. Not only do we need more women social entrepreneurs but also an ecosystem where there are more women leaders at every level. We need them as coaches, investors, in finance, as leading incubators, etc to break the template.' Citing challenges women face, Ms. Raj comments, 'Pressures of social norms and societal biases force women to give up the job while tough competitive market further make their work challenging.' Ms. Yagnik feels the need for more women entrepreneurs in India. She says, 'Social entrepreneurship might be a great opportunity for Indian women professionals to break through the glass ceiling that typically exists in traditional corporate life.' Ms. Cid suggests social entrepreneurs to stay positive and focus on the bigger purpose and stay passionate about their goal. Explaining capabilities of women entrepreneurs, Ms. Gupta says, 'I always say that women social entrepreneurs use the 3Rs - resilience, relationship and resistance – to build and grow their ventures. They are masters of resilience, I have seen many women without any resources, standing on their own and building a business in rural regions. They also demonstrate strong capabilities of building connections and meaningful relationships with stakeholders which takes them far.' Read on...

SME Futures: Nascent social entrepreneurship sector in India is beginning to look at women leaders for growth
Author: Anushruti Singh

Latest             ⚬ Newer Posts             Entrepreneurship & Innovation             Older Posts ⊳             Last



the3h | glomc00 | ilmeps | mawdesigns | anasmark | ilmeds | read | contact


©2019, ilmeps
disclaimer & privacy