Benevolent Capitalism: Not so typical a start-up…

If you are interested in social enterprises, impact investing, start-ups, Asia, empowerment, and stories of unreasonable people committed to make the world a better place, then you may decide to read on.

I will explore the intersection of many different worlds that typically don’t intersect. At this intersection where traditional finance meets non-profit, start-up meets government, Silicon Valley meets Dhaka, there is a new type of ecosystem being built. I have found beauty in such contrasts, where in one conference room, the lady to my left may be a Goldman Sachs executive, to my right, an Indian market weaver, across the table, a member of the Singapore ministry.

This all occurs in a city called Singapore, which I have found to be quite a surprising intersection of many different worlds itself. Often referred to as the “benevolent dictatorship”, one might wonder whether Singapore might just be the ideal place to build a “benevolent capital markets”, a capital markets organized for the purpose of doing good.

Friday, June 3, 2011

Not so typical a start-up…

When you walk in, IIX looks like a typical Silicon Valley start-up, but’s it actually very different.

In just two weeks, I have seen the spectrum of people who come through our doors. IIX does have the ability to influence the policies and mindsets of governments, a staggering ability that we cannot imagine in the U.S. where we are paralyzed by so many differing opinions. Whilst this difference of opinions often leads to innovation, it also stunts the growth of movements. However, Asia may just be the region where social enterprise can truly take off to achieve scale. The big question is whether IIX’s approach to sustainable development might be able to influence governments, often governments led by a small group of elite, who seem open for guidance.

The Economic Development Board (EDB) of Singapore, the Singapore development agency, decided 20 years ago to make Singapore’s private banking system better than the Swiss banking system, and they seem to have achieved their goal. They have also very systematically made Singapore into a successful regional air transport hub. While not all of their initiatives have been so successful, they do make a commitment to be the best. They have now decided that being the Asian regional hub for the social sector would add to their core capabilities as a nation.

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SUMMER 2011 SPONSORS

My fellowship in Singapore is made possible by the Women and Public Policy Program of the Harvard Kennedy School, and the Roy Family Internship Program.

Changing the world, one gender-focused internship at a time, the WAPPP has enabled a small group of us to go forth this summer to “tackle” some of the world’s most pressing social and environmental challenges.

As part of my own work this summer with Impact Investment Exchange Asia (IIX), I will be identifying potential areas of influence where IIX can play a role in improving gender equality, whether it be by increasing the number of women entrepreneurs and managers at social enterprises, improving the measurement of gender-related impact metrics, or engaging more capital focused on gender issues.