Social innovation is alive and thriving in BC! With inspiration at every turn, the province is teeming with interesting ideas about how to strengthen communities.
BC Ideas asked people to submit their ideas for addressing social, environmental, and health issues. With more than 25 partners and more than $275,000 dollars to invest in solutions, this online competition and collaborative community is uniquely poised to impact BC in new and innovative ways.
A recent Monitor Institute report, in collaboration with Acumen Fund, identifies a “Pioneer Gap”: a deficiency of funding available at the higher risk, earlier stages of venture development, as compared to later stage ventures with proven models and markets. This article suggests that risk tolerant philanthropic funding will be key to bridging this gap.
Over the last 18 months, we have been piloting a model we call “Proving Capital” at the Catalyst Initiative, funding high potential ventures in East Africa to test and validate their models, strengthen operations, and connect with impact investors. To date we’ve described this as “Pilot to Proof of Concept” funding, and we couldn’t agree more with the analysis put forward by Monitor.
Something’s not right. Injustice burns bright. An idea catches your eye. Your imagination takes hold. You push through prevailing wisdom and “the way it’s supposed to be.” With few resources, and no one listening you persist. You answer “yes!” to the disinterested, the doubters, and disbelievers. You innovate.
You create a solution to a challenge faced by a friend, family member, or neighbour. You invent a successful response to a community problem. You improve how we work together. You see a way for your province, your country and your world to be a better place.
There is growing interest and curiosity in this sector often referred to as Impact Investing. It goes by many other names as well – social finance, triple bottom line investing, values-based investing, or investing in social purpose or mission-based businesses.
Whatever it is called, it goes beyond where socially responsible investing stops. It brushes up next to philanthropy and works with it. It borrows concepts from traditional finance and challenges it to adapt and change. The transition to impact investing is, then, a dynamic and often fun-filled adventure. Here are my top five tips for navigating your journey well.
Women are deeply underrepresented in the emerging angel investment community. The statistic that suggests only 5% of the angel investors in Europe are women, and only 13% in the USA, has sparked Vancouver entrepreneur Bonnie Foley-Wong to make her move: Pique Ventures is born.
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Your Guide helps social entrepreneurs learn how to attract financing for their social ventures.
Visit the SiG Knowledge Hub on social innovation.
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Your Guide to Social Finance
SocialFinance.ca hosts an online guide that helps social entrepreneurs learn how to attract financing for their social ventures.
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