ISB Holds Asia Final of the Global Social Venture Competition

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.

Concluded.

Contributed by -
Ms. Bhuvana Ramalingam,
Director - Communications,
Indian School of Business, Hyderabad.

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