The Growing Role of Impact Investing | Harry Hummels

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Del curso dictado por Copenhagen Business School

Social Business Model and Planning for Social Innovation

49 calificaciones

Copenhagen Business School

Social Business Model and Planning for Social Innovation

49 calificaciones

Curso 2 de 3 en SpecializationSocial Entrepreneurship

In this course we will take the social business opportunity that you have identified in the first course to a higher level. Specifically, you will develop a business model using the Business Model Canvas. Gradually you will also start writing your business plan. Moreover, you will be able to assess different organizational forms and select the one that is appropriate for your developed business model. By the end of the course you will be able to compare different social impact investment methods and choose the right funding strategy for your social venture. Note: It is highly recommended to have completed Course 1: 'Identifying Social Entrepreneurship Opportunities' before you start with this Course!

De la lección

Attracting Startup Funding

Welcome to the final Module of Course 2. By concluding this Module your social venture will have reached an important milestone in the development process. This session will introduce you to the broad landscape of options you will face when designing the funding strategy for your social business. You will be encouraged to think about the financial needs of your venture and asked to create a plan of how to address those. Guided by insights from a social impact investor and researcher you will develop an elevator video pitch. This will be an important tool to attract startup funding. The final section of this module includes a special on the Impact Investing World Forum held in London in 2017, where Kai spoke to some practitioners who have some insights and good advice!

The Growing Role of Impact Investing | Harry Hummels7:52

Impact Investing in India | Anirudh Agrawal5:47

Conoce a los instructores

Kai Hockerts

Centre for Corporate Social Responsibility

Now let's go and meet a real impact investor.

Harry Hummels has been working in this area for the last 10 years and

he will share with us some experiences from his own work and

also an overview of the size of the impact investing industry at the moment.

And which areas money is going to.

He will also point out to you how you can actually address impact investors.

Let’s go and talk to Harry.

>> Hello, My name is Harry Hummels.

I am a, a university professor at Maastricht University, and

my chair is in Ethics, Organizations and Society.

In addition, I am Managing Director of Actiem Impact Investing together with

a friend of mine, Theo.

We share our job of Managing Director, already for many, many years.

And we invest approximately 1 billion euros in microfinance,

small and medium enterprise finance, and in renewable energy and

other, more or less, green investments.

Finally, I am European Liaison of the Global Impact Investing Network,

which is a network of a socially and

environmentally, environmentally motivated investors.

And I would like to tell you a little bit about a recent

study that was published together with J.P. Morgan

earlier this year to show you a little bit of the trends in impact investing.

Let me first say that we conducted a survey among 125 mainly GIN members.

And these members together invest some 46

billion US dollars in a variety of investment projects.

40% actually is going to the financial services sector,

20% to microfinance, and 20% to everything but microfinance.

And then you can think of insurance, micro-insurance or microsavings.

There are, small or medium enterprise finance, obviously.

So there are a lot of potentially interesting investments in that area.

Secondly, energy is a very important topic, followed by affordable housing.

So, and increasingly we see an interest emerging in

sustainable agriculture, particularly for smallholders.

If we look at where that money goes to,

70% goes to developing countries, 30% to the domestic markets.

Particularly in the US and the UK.

I think that impact investing is very important from

a social entrepreneur's point of view.

What impact investors are interested in is learning what your intentions are.

We, as impact investors, have a clear interest in creating social and

environmental impact while we also want to create a, a decent financial return.

Not a maximum financial return but a decent financial return,

whatever that may be.

That depends on the investor and every investor is different in defining what is necessary.

If you work for instance with

institutional investors like pension funds, insurance companies,

et cetera, then of course they'd look at a market rate return.

If you actually look at foundations, developing

finance institutions, or other, let's say, high-net worth individuals.

Then what we do see is that they are very often satisfied with

below-market rate returns.

So it depends on the investor, but what all these investors share is

their interest in what you achieve as an entrepreneur, what your intentions are,

and ultimately, whether you measure what impact you have created.

Because let's be honest, every investment has impact and

the question is whether that impact is social, whether you intended to do that,

and how you convince your investors that they did the right thing.

And that they created impact with their investment.

That makes impact investing distinguish itself from traditional investing.

Let me give you a very concrete example of an impact investment in emerging markets.

And I'm particularly looking now at Africa,

where the Medical Credit Fund is investing in private hospitals.

Public healthcare is very often very poor in in, in emerging markets and

certainly death counts for countries like Kenya, Tanzania, Ghana, and Nigeria.

What the Medical Credit Fund actually does is it teams up with investors,

with the government, and with healthcare clinics

in order to provide a better service to clients who do not normally

have access to decent healthcare services in these countries.

So, what the fund does is it invests itself,

but mainly it attracts money from other investors by providing

them sufficient guarantees that these other investors allocate their money

to these impact clinics, to these professional clinics.

These provide better services and that is also part

of the program that the Medical Credit Fund tries to achieve

because it actively provides technical assistance to the clinics,

to particularly the professionals working in those clinics, whether they be

doctors or nurses, that doesn't matter.

They get professional support in improving their,

the quality of their services.

So part of the entire investment is not only provide the money,

but also provides support, technical assistance, and

being, making these clinics part of a quality improvement

program, that we really can say: that impact is created for

the country, for the community and particularly for the clients,

the patients, making use of those professional clinics.

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