UCIT - Republic of Ireland
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The New Hybrid – Socially Good and Making Money? |
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Thursday, 14 April 2011 09:57 |
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One of the really interesting things about the social sector is the level of innovation it shows, doing it with very little resources (probably the key for that type of innovation). A lot of students these days seem to be interested in social enterprise or social entrepreneurship. Actually probably more interested than in commercial companies, which is slightly worrying. With funding for social being tight, and the country needing to produce high growth companies, I have reached the point where I am arguing the issue of whether starting so many potential social companies is such a good idea. But there is another model the ‘partial’ or ‘hybrid.’
A favourite example of this (and there are a few going back a few years) is TOMS Shoes.
TOMS Shoes was founded in 2006 by Blake Mycoskie, inspired by a trip to Argentina where he saw extreme poverty and health conditions, as well as children walking without shoes. That’s when he recognized the traditional Argentine alpargata shoe as a simple, yet revolutionary solution. He quickly set out to reinvent the alpargata for the U.S. market with a simple goal: to show how together, we can create a better tomorrow by taking compassionate action today. To realize this mission, Blake made a commitment to match every pair of TOMS purchased with a pair of new shoes to a child in need.
TOMS Shoes is an example of what the Ryan Academy defines as a ‘partial’: a commercial company with a strong social element that goes far beyond corporate social responsibility. The founder of Grameen Bank, in the light of the global financial crisis, has called for a ‘new’ kind of more socially conscious capitalism. TOMS Shoes is a growth company with a nice angle and a slew of stars willing to promote the brand. There are questions to be asked of this of course….
How many of these kinds of companies can an individual sector sustain? Could it be done geographically? Is there a need for a ‘socially conscious’ brand like there is with Fair Trade? Can we persuade a generation of youth that want more than the ‘social network’ styled greed to investigate such models? Is this just an advanced for of consumption philanthropy? More importantly will the venture community see this as a valuable competitive advance or positioning or will they see it as a revenue-draining element? Not all partials need to give away as much as TOMS Shoes of course…..I guess time will tell… |
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Free "Business in the Community" Event Tomorrow |
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Thursday, 24 March 2011 14:39 |
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DCU Business School would like to welcome all DCU staff and interested parties to a free event taking place tomorrow Friday 25th March between 1 and 6pm in the Terence Larkin Theatre (DCU Campus) focusing on the role of enterprise in the community.
This event is being organised by the Business School and will feature speakers from DCU in the Community, DCU Educational Trust, NorDubCo, Business in the Community and some prominent social entrepreneurs.
There are additional details including an agenda and list of speakers on the Techspectations website. The event is free and you are welcome to attend some or all of the event.
If you have any questions or queries, please send an email to:
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
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EU Launches New Social Innovation Initiative |
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Monday, 21 March 2011 13:49 |
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The European Union launched last week a new initiative aimed at social innovation. Called Social Innovation Europe, it aims to create a 'dynamic, entrepreneurial and innovative new Europe.'
Indeed. Strong words on the subject by the EU: "The time has come for Europe to embrace the broad concept of innovation and set an example globally. By 2014, Social Innovation Europe will have become the meeting place - virtual and real - for social innovators, entrepreneurs, non-profit organisations, policy makers and anyone else who is inspired by social innovation in Europe."
Through a series of gatherings, and a new online resource, Social Innovation Europe aims to:
- connect projects and people who can share experiences and learn from each other;
- develop an easily accessible resource bank - so you can find about other projects, organisations and ways of working;
- develop a resource bank of up to date policies at local and national levels and provide information on funding opportunities;
- facilitate new relationships between civil society, governments, public sector institutions and relevant private sector bodies
- develop concrete recommendations in financing and in upscaling/mainstreaming of social innovation in Europe
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UK Social Enterprise Mark to Go International? |
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Monday, 07 March 2011 14:36 |
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There are reports that the UK Social Enterprise Mark, something I have blogged about before, may start going international. The Social Enterprise Mark could launch in Finland in the first step of an international roll out. The Social Enterprise Mark Company is in talks with Finnish social enterprise support organisation Syfo about expanding the existing Mark. Talks started in September and there is not yet a date for a possible launch. The Social Enterprise Mark company runs the branding programme for UK social enterprises.
There are now 372 Mark holders in the UK, each of which paid £99 to become a member. This introductory rate has now increased with membership starting from £350, depending on turnover. I like the idea of a mark for social purpose organisations but I feel that the UK Social Enterprise Mark is somewhat limiting in its scope. Ireland doesn't have as many organisations that would qualify for the UK mark. I would prefer to see a potential 'Social Purpose' mark that would be wider and allow more organisations to be involved that don't technically count as social enterprises. A project for a social entrepreneur to take on board perhaps? More information on this story here. |
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Social Purpose Organisations Should Seek Multiplier Effect Rather Than Just Money |
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Monday, 07 March 2011 14:22 |
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Esteemed journal the Harvard Business Review has published an article about funding for social purpose organisations, or more specifically why 'smart' money, and a multiplier effect from funders, is better than 'just' money.
Simply writing checks to organisations in the social sector space, the article argues, won’t create the ambitious changes many philanthropists are looking for. Even the richest individuals and largest foundations don’t have enough money to end poverty, reverse climate change, or cure cancer.
Their staggering assets are tiny relative to the dollars involved in large, complex systems like education, the environment, and medical research. According to the HBR analysis, donations from institutional foundations and the ultrawealthy account for only 6% of the U.S. nonprofit sector’s funding.
To achieve breakthrough changes, donors need a multiplier effect—an approach that delivers many dollars’ worth of impact for each dollar invested. In short, they need to develop an investment model. To do so, donors must understand two fundamental areas: the methods of change that breakthrough results require. For funders and fundees of the sector this is an important read. |
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