Social Finance Round Up: Federal, Provincial Budgets Highlight Social Finance

SocialFinance.ca produces a weekly round up featuring social finance related news, insights, job openings, and events. We source the content for these round ups from Twitter, an RSS reader, and directly from our community of social finance practitioners. Below is our round up for the week of April 2, 2012.

Last Week on SocialFinance.ca

Becky Slater posted Unlocking Institutional Investment for Impact: a 3-part interview with Ben Thornley of InSight, the thought leadership practice at Pacific Community Ventures. Read all three parts at once: Part I, Part II, and Part III.

Adam Spence broke down the new U.S. legislation, the Jumpstart Our Business Startups Act, in Here Comes the Impact Investing Crowd

Trish Nixon summarized how Canadian governments are incorporating social finance in their budget agendas.

Canadian and International News

The federal and Ontario budgets included clauses on social finance, specifically referencing to the development of social impact bonds. Of the considerable follow up commentary, Tonya Surman of the Centre for Social Innovation focused on the lost opportunity for social innovation to drive jobs and the economy.

The Nova Scotia Throne Speech committed to removing barriers for social enterprise in provincial policy and legislation.

The Business Development Bank of Canada launched the 2012 Young Entrepreneur competition, inviting entrepreneurs between the ages of 18-35 to submit plans for innovation projects – the Grand Prize for Innovation is worth $100,000.

Erik Hersman, provides some key takeaways from a discussion on ‘investing in tech in Africa’ at Oxford Jam last week.

Following the passing of the Jumpstart Our Business Startup (JOBS) Act last week, two Boulder, Colorado companies launched a crowdfunding stock exchange – SSX: The Story Stock Exchange.

The Skoll World Forum on Social Enterpreneurship took place last Wednesday – Friday. The Guardian provided in-depth coverage of the event on its live blog. Sally Olsberg, CEO of the forum, profiled the six newest Awardees for Social Entrepreneurship in the Huffington Post: “Social Enterpreneurship: Why it Matters

Britain’s Big Society Capital is launching this month, backed by appoximately $1 billion. The Economist interviews CEO Nick O’Donohue in “Funding the Dream: the government’s plan to make Britain a leader in social investment.”

Insight at Pacific Community Ventures, CASE at Duke University, and ImpactAssets launced a global research initiative on impact investing. “The Impact Investor: People and Practices Delivering Exceptional Financial and Social Returns” will emphasize data and practitioner insights to build knowledge in the fast-growing field. Read the press release [PDF] and report, The Need for Evidence and Engagement [PDF].

Social Finance Learning and Best Practices

At a workshop organized by the Finance Innovation Lab, a vibrant discussion took place around disruptive policy thinking towards a sustainable finance system. Isabella Gaupmann provides a brief description; view the comprehensive policy map in the prezi here.

Mira Shenker shared slides from the Federation of Canadian Municipalities’ Sustainable Communities Conference in Ottawa; FCM’s Green Municipal Fund [PDF] and Vancity’s Good Money through Community Investment [PDF] are especially relevant for social finance practitioners and those interested in impact investing.

McKinsey published an article on social impact bonds, which precedes a report to be released later this year. The article, “Will social impact bonds work in the United States?” [PDF], provides some context on SIBs, why they could be important, and who would have to be involved to make them work.

The GIIN website profiled Canadian impact investing firm Sarona Asset Management. Read the interview with Gerard Pries, President (and SocialFinance.ca Writer), here.

In Doing More by Doing Less, David Greco, Vice President of the NonProfit Finance Fund, commented on bad “best” practices that need to be abandoned by funders in order to support nonprofits to scale impact.

The Commission on Sustainable Agriculture and Climate Change, an independent commission of scientific leaders from 13 countries, released a report identifying policy changes and actions needed globally to achieve food security in the face of climate change.

The story of Pradip Sarmah’s rickshaw bank: the successful rent-to-own micro-credit scheme developed for Indian rickshaw drivers, from the Assam Foundation of North America.

Steve Rothschild, author of the new book, The Non Nonprofit, advises governments to consider long-term return on investment and net present value when determining where to invest and where to cut spending in “How ROI (and other analysis tools) can save our social programs.

Job Opportunities

Social Innovation Generation (National) is looking for a Program Manager, to be chiefly tasked with the development and oversight of an innovative strategy advancing the social innovation, or change lab, tool set across Canada via a range of partnership initiatives over three years. See the job description for more; interested candidates should send their expression of interest to Ruth Richardson, consultant to SiG National at ruth@openblue.ca by Monday 23 April 2012, 5:00 PM EST.
Expressions of interest should include a cover letter, résumé, and a short 500 word review of Labs: Designing the Future answering the question “In Canada, how do we maximize the disruptive potential of the ‘innovation lab’ to solve our most pressing problems?”

The Global Impact Investing Network (GIIN) is looking to hire two Summer Associates for 10 weeks to support its activities.

The Grassroots Business Fund posted a metrics and development impact summer internship opportunity.

The Unreasonable Institute is looking for a Program Manager to design and execute the 6-week Summer Institute for entrepreneurs.

The Centre for Social Innovaton is hiring a Director of Programming to join the CSI management team.

LGT Venture Philanthropy is looking for a Business Accelerator Consultant to work with LGT VP’s Impact Ventures Accelerator Program in Indonesia. Find out more about the opportunity and apply by April 30, 2012.

Calvert Social Investment Foundation is seeking a Compliance Officer, among several other roles.

Upcoming Events

Journeys for Change
April 8 – 12, Mumbai

Social Venture Network 2012 Annual Member Gathering
April 19 – 22, Stevenson, Washington

Investors’ Circle Spring Venture Fair
April 22-24, San Francisco

3rd Annual Impact Conference
22-25 April, 2012, Miami, Florida

SOCAP: Designing the Future
May 8 – 10, Malmo, Sweden

Environmental Bonds Conference
May 23, New York

Canada’s Socially Responsible Investment Conference
June 18 – 20, Montreal, Quebec

Cracking the Nut 2012 Conference
June 25-26, 2012, Enrique V. Iglesias Conference Center, Washington, DC

Partnering for Global Impact
July 9-10, Lugano, Switzerland

The Social Enterprise World Forum (SEWF) – Fórum Mundial de Negócios Sociais 2012
October 16-18, 2012, Rio de Janeiro, Brazil

Photo credit: http://www.flickr.com/photos/benimoto/603815615/

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