ISB Holds Asia Final
of the Global Social Venture Competition
The Indian School of Business (ISB)
is holding the Asia Final of the Global Social Venture Competition (GSVC)
on March 8 and 9, 2008 at the ISB campus. The competition has attracted 125
plans from the Asian region.
The final round has 12 teams from
India, China, Indonesia, Korea, Thailand and Taiwan competing for the top two
positions. A judging panel comprising leading Social Ventures and Venture
Capitalists will choose the winners. These winners will then participate in the
Global finals, which will be held at the Haas School of Business in April
2008.
Speaking on the occasion, M.
Rammohan Rao, Dean, ISB, said, "The ISB is committed to promoting
entrepreneurship, especially in the emerging economies. The GSVC provides the
right opportunity to support and groom entrepreneurs in this region to build
global competitiveness."
The ISB has invited business
plans from B-school students / alumni from across the Asian region. In addition
to mentoring the participants, the GSVC provides an opportunity for B-school
students to meet with venture capitalists, potential investors and academicians
who support social ventures.
"There are under invested sectors
and businesses, which have the potential to meet financial, social and
environmental objectives. Our focus at the Base of the Pyramid Lab at the ISB is
to encourage entrepreneurship, especially with a social cause," said Reuben
Abraham, Professor of Entrepreneurship at the ISB and Cornell University.
The GSVC focuses on three
important aspects of a business plan: -
-
The business plan should have
a financially sustainable model
-
It should have the potential
to be scalable
-
Possess a quantifiable social
and/or environmental bottom-line incorporated into its mission and practices
The ISB has been organizing GSVC
in association with Helios & Matheson, a healthcare focused IT services
company, since the last two years. The company is actively involved in promoting
social entrepreneurship. This year, the event has attracted participation from
several eminent social entrepreneurs, venture capitalists and industry leaders.
Honourable Minister of State for Commerce, Jairam Ramesh was the
Chief Guest of the special session.
The Global Social Venture
Competition (GSVC) brings together the academic and financial worlds to support
the creation of sustainable social ventures. The GSVC awards prizes to the
business plans that show the highest and most integrated financial and social
returns. Since its inception in 1999, GSVC has awarded more than US $ 300,000 to
emerging social ventures, and has introduced early-stage social entrepreneurs to
the investment community.
