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Global Social Benefit Incubator still strong
Key Excerpts from Article on Website of San Francisco Chronicle (SF's leading newspaper)
Posted: September 18th, 2012
http://www.sfgate.com/business/article/Global-Social-Benefit...
Shivani Siroya was one of 19 entrepreneurs at this year's Global Social Benefit Incubator who have been undergoing a critical evaluation from this group, whose members also include venture capitalists and experts in social enterprise. Beyond building successful enterprises, the incubator wants ones that alleviate social needs. "People are not going to give money to you indefinitely, even if you're doing some good in the world. So we have to help these entrepreneurs develop sound business models that will flourish and last," said Eric Carlson, director of the incubator and dean's executive professor in the Leavey School of Business at Santa Clara University. This year's gathering brought together more than 150 mentors, who will continue to work with these enterprises into the fall. One is Jeff Miller, former director of Santa Clara's Center for Science, Technology and Society. He's been an adviser since the program's inception and sees one common thread in many of the young people. "They have such huge, wonderful, passionate visions of how to change the world in energy, water, education and more. But they lack focus. So we encourage them to look at an area that they can focus on and make an impact. This can be a particular demographic or region, which makes for a more concentrated effort." Impact investing, an emerging field for social effect as well as monetary return, has been gaining prominence. But Miller and Carlson are cautious, noting that the area needs to mature and develop an infrastructure. Yet it's quickly become a topic of discussion at the incubator.
Note: For information on microlending, one of the highest impact forms of investing for eliminating poverty in our world while still gaining interest on investment, click here.
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