slush impact day 20161128 workshop for startups
TRANSCRIPT
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SLUSH Impact Day28.12.2016
Workshop 1 – StartupsJenni Selosmaa, Business Coach
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WHAT WILL YOU ACHIEVE TODAY?
1. Impact model for communicating your impact intentions
2. Impact business model for communicating your value creation process to your customers and investors
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IMPACT ECOSYSTEM IN FINLAND
PERSON & IDEA
ADVANCED IMPACT
ENTERPRISES
INV.READY IMPACT
ENTERPRISES
EARLY-STAGE IMPACT
ENTERPRISE
IMPACT ANGELSFINNISH
FOUNDATIONS FINNISH MUNICIPALITIES
ENTREPRENEURSHIP SOCIETIES & INNOVATION
COMPETITIONS ACCELERATORS
IMPACT FUNDS AND OTHER NEW INSTRUMENTS??
GOV’T ORG’S
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WHAT IS IMPACT INVESTING?
1. Investing with the target of having social or environmental impact in addition to a financial return
2. Setting targets for a. social / env. impact b. financial returns
3. Measuring how well set targets are met
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3D INVESTING
RISK
RETURN
IMPACT
In the ideal case, impact correlates with increased financial returns.
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IMPACT ENTERPRISES
GOVERNMENTAL & NGO’SSOCIAL ENTREPRENEURSHIP
SHARED VALUE CREATION
IMPACT GRID MODEL*
*Source: Richard von Kaufmann
More
prof
it-dr
iven
More purpose-driven
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IMPACT ENTERPRISES
GOVERNMENTAL & NGO’SSOCIAL ENTREPRENEURSHIP
SHARED VALUE CREATION
IMPACT GRID MODEL*
*Source: Richard von Kaufmann
More
prof
it-dr
iven
More purpose-driven
Profit sought while carefully considering benefits to society in relation to core businessE.g. Patagonia, Ben & Jerry’s, Kickstarter
Profit as means for leverage and longevity E.g. SolarNow
Supporting entrepreneurial activities aimed at improving the welfare & livelihoods of communities in need (as opposed to meeting pressing immediate needs through charity in short term)E.g. Unicef Innovation Fund
Entrepreneurship used to solve social challenges – self-sustaining but not profit-generatingE.g. Kiva.org
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IMPACT MODELLING
Impact model
● defines long-term goals and then
● maps backward to identify necessary preconditions
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EXAMPLE: IMPACT MODEL
SOURCE: Making Sense of Social Impact: Acumen’s Building Blocks for Impact Analysis course on NovoEd https://novoed.com/social-impact-2016-1
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FIRST: Define your target customer or beneficiary
● What unit makes most sense to work with? E.g. individual, household, classroom, community
● What is your geographical target area?
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● What is the change you want to see in the world? ● What problem are you solving?● What is the long-term effect that can be attributed to
your product or service
-> Focus on setting up the impact target
IMPACT = LONG-TERM GOAL
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HOW DO YOU STRUCTURE AN IMPACT ENTERPRISE?
● Usually beneficiary ≠ customer: this means that the one who benefits is not necessarily the one who pays
● Being able to quantify your impact means you are able to build it into your business model
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EXAMPLES OF FINNISH IMPACT ENTERPRISES
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EXAMPLES OF IMPACT BUSINESS MODELS
● Low-cost quality eye care to eradicate blindness & grow economic productivity
● “Pay according to your abilities”: 2/3 of poorest customers do not pay, the affluent do
● “McDonald’s model”: highly replicable & standardized
● Mobile learning service www.funzi.mobi to enable everyone to learn practical skills to improve their lives for free
● Finding value in & commercia- lizing learning outcomes ○ 3rd parties purchase
learning outcomes of a certain target population
○ End users can purchase certificates
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EXAMPLE OF ARAVIND’S IMPACT BUSINESS MODEL
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FOR MORE BUSINESS DEVELOPMENT HELP:
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FOR MORE INFORMATION
● Global Impact Investing Network: 2016 Annual Impact Investor Survey
● Männistö, Harri ( 2016) Vaikuttavuusinvestoimisen opas sijoittajille. Sitran selvityksiä 120 (in Finnish)
● Impact Investment: The Invisible Heart of Markets (2014) Report of the Social Impact Investment Taskforce
● Toniic (2016) Millennials & Impact Investment ● Social Finance (about Social Impact Bonds)
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