Social Innovation

The Youth Social Innovation Capital Fund

Over the last few months, I have had the privilege of working with a group of talented people who have transformed the Social Finance Chain from a humble micro-loan program, into the national Youth Social Innovation Capital Fund, which provides debt and equity solutions to young social entrepreneurs who want to change the world. It has ambitious capital raising targets for the next year, and what amazes me is that the team has raised 20% towards its goal of $87,500 in only two months.

The Youth Social Innovation Capital Fund (YSI-CF) began with the idea that youth are brimming with innovative ideas on how to tackle the complex challenges that confront our society.

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The “B Corporation” and the Evolution of Capitalism

In The Ascent of Money, historian Niall Ferguson paints the picture of capitalism as an evolutionary beast. From the creation of stock-issuing corporations to the opaque engineering of collateralized debt obligations and other derivatives, capitalism is a story of constant innovation. More to the point, that innovation is what – in his telling – accounts for periods of dramatic economic expansion and growth. It is as if economies reach a sort of equilibrium state, and that progress requires some modification of an internal element of the system – meaning, in Ferguson’s story, the leveraging of vast new capital flows – in the underlying mechanics of the process.

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Lessons from Jonathan Greenblatt at the NYU Social Innovation Symposium

The 2nd Annual NYU Social Innovation Symposium was held on Friday, February 10th at the NYU’s Stern School of Business. Hundreds of students and practitioners from the public, private, and nonprofit sectors convened for case studies and panel discussions about social innovation and social entrepreneurship. It made for a day of enriching candid discussion, and an atmosphere of anticipation to hear the keynote speaker, Jonathan Greenblatt, interviewed by Spencer Ante, Deputy Bureau Chief of The Wall Street Journal.

Peter Henry, Dean of NYU's Stern School of Business, remarked in his introduction that social entrepreneurs work with a broad canvas. They source opportunities to create value for businesses and society, which is something Jonathan Greenblatt has done throughout his career. Now a Special Advisor to President Obama and Director of the Office of Social Innovation and Civic Participation at the White House, Greenblatt has worked within both nonprofit and for-profit sectors.

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Davos 2012: Multi-Issue, Multi-Stakeholder Forum Fosters Social Innovation

The 2012 World Economic Forum Annual Meeting kicked off today with a markedly sombre tone.  Economic imbalances and rising inequality threaten to reverse the gains of globalization, according to the WEF report Global Risks 2012, released earlier this month, while the past year's global economic turmoil, spiraling debt crisis and social upheaval are surely weighing heavily on the minds and agendas of global leaders gathering in Davos.

The theme for this year's meeting is, appropriately, "The Great Transformation: Shaping New Models."  There is a recognition that our current system for economic and global governance is broken, and systemic change is required.

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Forum for Thought and Impact

I recently attended the 2011 Social Finance Forum, organized by the newly minted MaRS Centre for Impact Investing. A worthy event, to be sure, it provided me with much to ponder while offering a fascinating snapshot of this at-times-dynamic-at-other-times-stagnant social finance space.

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