In this episode of the Impact Podcast,  we travel to Brazil and talk to Nastassia Romano, who has worked on a number of projects related to social enterprise. In this podcast, we will get to hear about how her work and education has led to her current role in Yunus Social Business. We will also get to know her perspectives about social enterprise in Brazil.

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Meet Nastassia Romano

Nastassia is an economist, she did her graduation in Brazil. She has studied in the London School of Economics, where she specialized in international studies & environmental studies. While studying, she had an opportunity to go to Oxford in 2010, for a conference at the Saïd Business school. In that conference Nastassia was able hear about social enterprise like she never did before.

So after coming back to Brazil, Nastassia did some research and after talking to lot of people decided that, she had to first start working in a social impact. She eventually ended up working as project manager, in Brazil, to select and train non profit social organizations in business and management that creates an impact.

Social Impact in Brazil

Nastassia reveals that social enterprise or social impact, is a novel concept in Brazil when she started. She feels that with type of inequality issues in Brazil, there is a need to do something on your own rather than relying on government. But some of these already existing social enterprises in Brazil were lacking a business acumen, hence they were struggling to kick start. She feels that strategic management, is something that needs to be brought in to solve these issues.

Association with Yunus Social Business

While working with Social Institute, Nastassia did some research about social enterprise and developed contacts by talking to people. It is during this time, she found out that Yunus is coming to South Brazil for a conference. She wanted to work along with the Yunus foundation. She travelled São Paulo, to figure out what they were doing and to connect on how they can partner, to do projects. On one occasion she went to a social finance seminar, about impact investing and had the opportunity to talk to the CEO of Yunus through her connections.

Nastassia spoke with members from Yunus and explained that,  Yunus education strategies had a lot of synergy with what they are doing in South Brazil. She also explained that if they have to start anything, related to social enterprise education it should start from South Brazil, as people in Sao Paulo already has access to those. She has also invited Yunus to talk about their business models at higher education event. Eventually Nastassia, became a part of Yunus representing Parana state.

Nastassia feels that a social enterprise as company should focus on making profits, and thereby creating a social impact. The profit earned should go back to the enterprise, to strengthen the impact it is creating rather than producing dividends for the owners. With Yunus Social business, Nastassia is helping to organize workshops, speeches, academic events that create this new type of social impact mindset. In Brazil, private companies does not trust NGO as funding gets deviated hence Nastassia is working primarily on the mindset change across companies. YSB also runs an accelerator in Rio and Sao Paulo to help develop more social entrepreneurs by helping new businesses. YSB also does academic work related to social enterprise  with the universities. To learn more about YSB, please connect below.

 

Learn More

Website :  http://www.yunusnegociossociais.com/

Email:      nastassia@yunusnegociossociais.com

Twitter : @yunusns

 

Learn Educate Discover

In this episode of the Impact Podcast, Innov8social founder meets another exciting Podcastor Sonali Mangal. In this episode Neetal discusses, with Sonali about the podcasts that she is working on. Sonali also shares some details about her, and how she got involved in ” Learn Educate Discover ” podcast.

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Meet Sonali Mangal

Sonali Mangal is Podcastor of the series “Learn, Educate & Discover” podcast, which helps students and young professional to learn about various careers. She organizes her podcasts, into interview style podcasts with professionals from various backgrounds such as consulting, banking & product management. Sonali tries to understand from current professionals in a career, about their day to day challenges. She tries to dig deep into each areas, so that it helps people with aspirations about a particular career path.

Neetal also shares her passion about podcasting with Sonali, and they both were brainstorming about doing events together. Neetal managed to get some snapshots, of the upcoming podcasts with Sonali and you hear about exchanges between the fellow podcastor’s in this episode. Sonali was excited about the way, Neetal manages to get some of her podcasts in the form an informal conversations. She feels that, it makes the speaker to open up more casually, than formal process.

Neetal also did a podcast as a speaker for Learn, Educate & Discover, and shared her experiences in podcasting, career and her passion about creating social impact. Sonali always enjoy doing podcasts and the moment she receives a note from her listener, she feels great that it was meaningful to someone. She feels that is what, keeps her going.

Sonali shares her vision about Learn, Educate & Discover with Neetal. Her vision is to help people choose a career, they love, rather than pushing themselves to office on Monday’s.  She want to develop LED as a resource that help people choose right career path, by providing well informed insider views.  Sonali loves to receive feedbacks on her podcasts, and also on topics that would interested them.

Connect More at

Twitter : @LED_Curator

iTunes  : iTunes – Learn Educate Discover

Email : hello@learneducatediscover.com

 

In this episode of the Impact Podcast, Innov8social founder shares her experience live from an event called “StartingBloc unplugged”. This event is a reunion of the program that happened, in LA institute in early 2016. Neetal shares her experiences with the participants, who came from different part of the country.

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Check out this episode!

Pay for Success

In this episode of the Impact Podcast, Innov8social founder meets Eileen Neely, Economist and Director of capital innovation at Living cities. In this episode Neetal discusses, with Eileen about social enterprise funding mechanisms like “Pay for Success”. We will also get learn about use cases, for this type of funding.

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Meet Eileen Neely

Eileen Neely is the director of capital innovation at Living Cities. Living Cities harness the collective power of 22 of the largest foundations and financial institutions. At living cities, they develop and scale opportunities for people with low income and also help improve the cities they live.  Eileen started her career as a housing economist,  doing interest rate forecasting  for the real estate industry. She also volunteered at the community development corporation for revitalizing the commercial corridor in D.C area.

Eileen entered into the field of impact investing while working at Fannie Mae, by making construction loans for catalytic housing development. This was a niche part of Fannie Mae. They also ventured into non low income credit investments to revitalize communities. They lend out loans to government entities, who were working to push their housing agendas.

When federal government took over Fannie Mae in 2008, Eileen reevaluated her career path. She found that working with public housing entities directly, would create a meaningful impact. So she started to work with Fresno housing authority during the recession to complete projects, using their own resources. After coming back to Washington D.C, after a cross country trip, Eileen started working at living cities. At Living cities, she took the experience gained at housing projects, and applied the same holistically across systems to improve the economic well being of people.

Pay for Success

Living cities found that they have done a lot for housing impact, and wanted the same to be applied to eliminate poverty. This lead to “Pay for Success”, which is a financial innovation that combines a performance based contract where the government pays if certain social outcomes are reached. This is called a social impact bond.

Social impact bond is really a working capital line of credit or a bridge financing that allows the service provider to provide services. It does not care about the mechanism, but loves any contract that pays for the outcome. The “Pay for Success” concept enables private sector to invest in human capital to eliminate poverty.

Roca Model – Pay for Success

Eileen explained about the first project implemented, by the “Pay for Success” strategy.  The state of Massachusetts wanted to reduce the rate of recidivism in the juvenile coming out of prison. There was a trend, where by 60% of these individuals, ending up in prison again within 5 years. Roca is a service provider , who has been working with this population for years, they have managed to reduce the rate of recidivism by 40% .  The state of Massachusetts wanted to sponsor this program only if it is an outcome based model. So there is a contract between the state and the service provider to pay only when certain outcomes are reached.

Roca loved to provide such a service, but it would cost 23 million to do the same. This is where private investors enters in, like GoldMan Sachs, Living Cities, Boston Foundation, New Profit, John & Arnold Foundation. They were willing to pay that upfront money for Roca. The last stakeholder in this investment, is to have third party evaluator to evaluate if Roko met the goals. In this case it is the urban institute, they will look the data and decide how much Roca will be paid. The Roca program runs the program for four years.

Global Good Fund

In this episode of the Impact Podcast, Innov8social founder explains about a new fellowship program called ” Global Good Fund ” and you will hear about details of the program. We are joining with Jose Fernandez in this episode, and we will hear more about the Global Good Fund.

Listen to the Jose Fernandez, from the Global Good Fund

Meet Jose Fernandez

Jose has a business background with an MBA degree from Spain. Jose has travelled to various countries for working in, banking, cosmetics industries.  He was working with consulate general of Spain in New York. In New York, he was introduced to social entrepreneurship and got connected with Global Good Fund. Jose was amazed at how social enterprises were able to bridge the gap between traditional non-profits and traditional businesses. He was also worried about the vulnerabilities of the traditional non-profits who were relying on funds and grants. Jose felt that non-profits also should have good revenue generating models. Once Jose was introduced social enterprise, he felt that he found the missing part of traditional business, which is social responsibility.

Neetal was asking Jose about connection between politics and social enterprise. Jose explained that when you start a political party, you mentality will be to help people. It is very similar to social enterprise, where they dive into a worthy cause and try to make an impact. In social enterprise you try to make connections, which helps to create synergy. But he felt the execution of social enterprise is vastly different from political system, and media plays a major role in politics.

Global Good Fund

Jose spoke about a currently open fellowship called Diana Davis Spencer Foundation Fellowship.  It is a fellowship that focuses on nurturing unemployed or underemployed people who are  older than 50 years or more in the united states. The fellowship program runs for 15 months and pair them with mentors and guide them with professional coaches to become a leader. The applicant can be of any nationality and should be fifty years and older.  There is global good fund summit is happening in April and the participants will get to meet their mentors.  The deadline for the fellowship application is 26th September 2016. Please refer to the “Apply” page of  globalgoodfund.org.

Learn More

Website :  http://www.globalgoodfund.org/

Twitter Handle : @GlobalGoodFund

 

In this episode of the Impact Podcast, Innov8social founder discusses about the business models for social enterprise. Neetal mentions about the percentage model, in various resources and in the website. One of the companies that has popularized this model is Salesforce. They have implemented the 1-1-1 model, where by 1 percent of their employee time, 1 percent of the product and 1 percent of the revenue goes to social impact or non-profit.

As you might be wondering how this can be implemented in your own enterprise, today’s guest Rahul Gupta explains how he has created and implemented the percentage model in his own social enterprise.

Listen to the Rahul Gupta,  Do-Gooder & Founder of Big Wheel Brigade

Meet Rahul Gupta

Rahul Gupta is the founder of Big Wheel Brigade, a web application development company. They also run a code school called “Omaha Code school”. Rahul started this company four and a half years ago, but the actual thought about social enterprise started an year before. He started his first company in 2004, and there were lot of ups and downs, but things started to switch after a conference called “Big Omaha”. In that conference, Rahul met with Scott Harrison of Charity water, who spoke about social enterprise. During that speech, Rahul realized that he is not doing enough for social benefit.

So Rahul started working with a new nonprofit called planet water, they work on water filtration systems for its web presence. But Rahul wanted to do something better, and he started “Big Wheel Brigade” with his cousin Sameer. But to make ends meet, Rahul was still doing consulting work. After eight months starting the business, Rahul had to move to San Francisco, as his wife found an opportunity there. The shift changed the complexion of their work, as their rent just quadrupled. So they ramped up their consulting work, and they were billing hours and hours.

BWB’s Business Model for Social Good

As Rahul started to get more busy with consulting work, they set out 10% of their revenue for social good. It was decided this way as there was no inherent way to do social good with their consulting work. The set out fund was used to support social good that they believed in. As their business grew, the funding grew as well.  Sameer also runs the Omaha code school, and they were able to train graduates and bring them on to Tech school.

Initially they were supporting social good, without a clear plan but starting this year they have a good plan. They spend 50% of the set out figure to support “Anti- Slavery” issues,  25% for diversity & tech inclusion and rest goes to miscellaneous. They also support organizations like “Transhack” and “Ultracomp” who supported under privileged communities.

BWB has also created a code school for underprivileged in North-Omaha, a poor part of Omaha. BWB conducts free two month code camp, for 12-14 kids in Omaha and provide them free laptops, transportation, classes from 8am to 3 pm inclusive of two meals.  They also help them to visit small and big businesses.  BWB uses some of their set out money from consulting work for running this school and rest of them is supported by local businesses.

Rahul wants to spread their social good through word of mouth and lead by example. He does’nt want to become a B-corp and using it as a marketing tool. They bring their social good inherently in to their consulting space, rather than pitching the same in a sales meeting with their clients. The impact in tech inclusion that BWB was able to create through Omaha code school is great. There are two ways BWB supports social impact 1. Setting out 10% of their revenue 2. Working increasingly with companies, that does social good.

Learn More

Website :  http://www.bigwheelbrigade.com/

Twitter Handle : @hul

Email : rahul@bigwheelbrigade.com

Gregor Ruthven, Social Entrepreneur

In this episode of the Impact Podcast, Innov8social founder shares her view, that any social enterprise journey has multiple phases or chapters, but somehow no two stories, end up to be the same. But  the key thing is to follow the purpose and believing in the solution for the problem. We are going to meet someone who embodies this thought in his social enterprise. In this episode, we will meet Gregor Ruthven.

Listen to the Gregor Ruthven

Meet Gregor – Social Entrepreneur Behind REACH, Text-Response App for Vital Services

Gregor came with this idea while working as an intern in college. He found that people who involved in civil cases found it really difficult to connect with social services. The services though they existed, people didn’t know how to connect with them or find the right one. Gregor found that, there should be a better way  to find and connect with social services.

So after Gregor, moved to SFO he met the Innov8social founder and pitched idea of texting service at the “Tech for Good” event. The idea is to built a text messaging service, that automatically connects to right social service in the area.

There was an existing service 211 provided by united way, it is like 911 but for non-emergency. It connects people to social services. This service can be accessed by any American. But the problem is that lot of people don’t even know, it existed. The second problem with that was, it was not only inefficient as it relies only on phone calls but there is no information saved. Not only it sent the people to wrong services, it has no capacity to store information as well.

Gregor Strategy

Gregor explained, that they had done a good amount of market research. He spoke to a couple of 211 operators at Atlanta and some others across the country. The 211 at Atlanta was excited about the text message service and the automation that comes along with it. Though there were potential buyers for the solution, the investors are not turned on with the idea, as the target market is small.

Gregor is more of a strategist and marketer, than a developer and having a team meant a lot of chaos for him. One of the initial founders of this project left in the middle. He found that having a few developers in the team meant a lot as it gave him the idea from cost perspective.

Gregor also understood the importance of coming with minimal version, of the tool rather than full version. He understood this, while giving his pitch at the Draper university, where he failed to connect with the audience as the pitch was complex. So they developed a simple dashboard with couple of screens for the operators to login. He also learnt how move forward in the face of failure, while developing this tool. He also felt that, the timing is an important factor for such ideas and having a good team means a lot.

Way to go

Gregor does these impact activities as a part time job, while working full time as a digital strategist for SVP worldwide. Gregor feels that having a full time job, really helps to keep the impact activities going even if there are delays in the project completion and helps to avoid financial crunches.

Gregor’s next big ask would be to figure out a way get jobs to the homeless people. You learn more about Gregor and his work from the below section. Gregor feels that timing is the key thing while implementing new ideas. He firmly believes nothing can happen over night and he strongly believes in partnerships.

Learn More

 

ImpactPop

In this episode of the Impact Podcast, Innov8social founder shares her experience about co-hosting a workshop with founder of Impactpop. The interesting thing about the workshop is that, it actually happened in a Tipi. Neetal told that the participants had a exploratory conversations about social impact, and how each of their backgrounds, cultures influence their idea of social impact. The focus of the workshop was the intersection of art and social impact and it fit well with the theme of the event.

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ImpactPop Workshop

This episode we will get to listen from the participants, of the workshop and what they gained from the workshop.

Jessica is one of the participants, and she found about the event from one of the podcast episodes. It was exciting for her to meet like minded people, about art and social justice. She found that there is a lot of energy in this topics and the notion of redirecting, the funding from source to the need was really helpful.

Marisela is the founder of Impact Pop and is also one of the participants of this event. She found that event brought together people with like minds, and people who care about innovation and social enterprise. The workshop provides access to products that are designed to solve problems, and open up space for people to connect and talk about things that matter. It is also exciting, that this type of event happened in an unconventional way such sitting in a Tipi.

One of the other participants at the the event, was Sousuzakhi from Japan.  He is trying to meet with a lot of B-corps for his research, and he is from a venture capital background. He is interested in helping, community business in Japan. It was his first Tipi experience and he felt the interactions with fellow participants about social enterprise is an enriching experience. That was all from the Tipi workshop (ImpactPop) from SFO.

Please stay tuned for more impact podcasts during this fall.

 

MaGIC

In this episode of the Impact Podcast,  Innov8social founder talks about her experience, meeting various leaders and entrepreneurs at Global Entrepreneurship Summit (GES).  Neetal met Cheryl Yeoh, the founding CEO of Malaysian Global Innovation & Creativity Center (MaGIC) at GES.

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Meet Cheryl Yeoh – Founder of MaGIC

Cheryl grew up in Malaysia, and she did her undergraduate and graduate studies in the US.  She has worked on a number of startups, one of the startups that she has co-founded was reclip (acquired by Walmart). Cheryl was invited home to build and develop MaGIC, to put Malaysia on the social enterprise map.  MaGIC was launched by President Obama and Malaysian prime minister. Over the course of two years, it became the largest accelerator in Asia launching more than 150 startups.

She focussed on three main pillars at MaGIC, one was to accelerate and put startups on the global map. To accelerate startups,  she launched the MaGIC accelerator programs. The program now accelerates around 75 companies in a four month program twice a year.

Cheryl’s other goal was to educate startups about coding, digital media, marketing, data analytics. Her third goal is to expose social entrepreneurs about what is happening in global space. To enable that, she has created a partnership with Stanford university to engage those entrepreneurs, on the silicon valley culture in a two week program.

Social Entrepreneurship in Malaysia

When Cheryl returned back to Malaysia, social enterprise is not that popular. There is huge need for developing countries to focus on the social entrepreneurship movement. Lot of social entrepreneurs especially from rural areas, are compelled to solve their problems locally. Then there are people from urban areas who tend to have access to technology, money etc. MaGIC supports both these type of entrepreneurs, and they even travel to various parts of Malaysia to empower and teach them. They are being taught, on how to turn their non-profits into a profitable organizations which supports a social cause or impact. In the past two years, MaGIC has helped to define policies for social enterprises. Cheryl has travelled to Bangladesh to meet with Yunus to learn about various business models, and chose what is best for her country.

You can connect with Cheryl using the below mediums.

Connect at

Linked in :  https://www.linkedin.com/in/cherylyeoh

Website:  https://cherylyeoh.com/

Twitter :  cherylyeoh

 

In this episode of the Impact Podcast, Innov8social founder shares how Social Intrapreneurship is creating social impact within existing structures and companies. Neetal also shares 3 effective tips, on how to become an effective social  intrapreneur.

Listen to “Neetal Notes #21: 3 Tips for Being an Effective Social Intrapreneur”

The Go to Impact Network

Neetal feels that to be an effective social intrapreneur, you need to have a go to impact network. Being a social intrepreneur has set of objectives and responsibilities, and thinking about impact should be complementary. She feels that having a facebook page of good social network of entrepreneurs , will help you a long way. For example it could help identify a good vendor for a project or to give opinion about a new tool. Neetal also says that, actually you don’t need to know everyone in the network, but you just need to be in the right network.

Know your stakeholder

The second tip that Neetal suggests, is to know your stakeholder. If you are pitching for venture capitalist, you just need to understand where your social impact really fits in. Also she feels, that if you know your stakeholder is already doing great, in what they do in terms of social impact, the question of social enterprise or impact is unnecessary.

Story Telling

The third thing that Neetal want to bring forward is storytelling. The story that you tell about your social impact for, inviting different talent or speaker is really valuable.  It is really valuable, even if there is no audience, as it would help in prioritizing and tracking social impact. It would also help in identifying new avenues, that the leadership would love to hear about. And it always helps to bring these impact dialogues, to various stakeholders as it can become a journey on its own.

These are three effective tips that Neetal go share in this episode. Please stay tuned for more impact podcasts during this fall.