Administrative Staff College of India and Ledmac Limited, London have agreed to work together in the area of social entrepreneurship in India. The partners will pool their expertise and experience in the field and will offer a rich mix of international best practices along with deep understanding of the Indian context to undertake stellar work in this area of national importance.
Both have planned a number of joint activities in the coming months that will lay the foundation for a strong Indo-UK partnership and hope to become one of the success stories of how transnational partnerships can make a strong impact in India.
Proposed Joint Activities
The first activity that the partners are going to organise together is a seminar series titled, ‘Social Entrepreneurship: Global Experiences & Local Opportunities’. The first seminar in the series is being organised on 21st March , 2016 at ASCI, Hyderabad and will see the participation of Prof Thomas Talhelm from the prestigious University of Chicago Booth School of Business (ranked amongst top ten in the world) as the Lead Speaker. Other speakers are Dr. Y. Malini Reddy from ASCI, Mr. Shoury Reddy from Balavikasa International, Dr. Praveen Rao from Ultimate Concepts, and Prof. Srinivas Chary from ASCI. Details of the seminar are available in the flyer.
Subsequent activities include running an India focused, international level social venture competition, setting up a social entrepreneurship incubator, undertaking joint projects & research and more.
Ledmac is a London based education services company specialising in building & supporting incubators, entrepreneurship education and social entrepreneurship know-how. It was founded by a group of Sloan Fellows from London Business School who are passionate about and committed to entrepreneurship and its social impact.
Ledmac is strongly connected to the prestigious London Business School network and has obtained first hand experience in the areas of strategy, mentorship and incubating best practices.
Some of its prestigious agreements/projects in India include, an MOU with T-Hub, Hyderabad (positioned to be the largest incubator in India), ambitious micro-entrepreneurship project in association with IIMK, Rajagiri Group, NSDC and professors from IIMB, IIML, IIT Kanpur and London Business School that has the potential to impact a 100,000 micro-entrepreneurs in India over next 10 years, a large format, multi-city annual conference on Entrepreneurship & it Social Impact in association with a US and an Indian business school, which are ranked amongst top 5 in their respective countries, launching a unique activity-based entrepreneurship elective for academic institutions and more.
It is now widely accepted that social enterprises play a crucial role in enhancing social growth and promoting inclusive development. The sector with tremendous potential to help India achieve its economic and sustainable development goals needs to be supported with an enabling environment that includes access to finance and knowledge sharing.
Investors differ in their approaches to social returns, financial returns and risk. While social entrepreneurs have clarity and conviction about their social mission, the ability to build an investor ready business case with sustainable financial projections is a primary challenge faced. The innovative approaches taken by social entrepreneurs for tackling social problems, creates challenges for investors particularly with respect to risk assessment. It is extremely important for entrepreneurs and investors to develop a common understanding of the valuation of social business models. The summit is intended to bridge the gap between social enterprises, investors, and mentors. While there have been discussions on the reasons for the gap, deliberations to develop practical recommendations to bridge the gap are few and much needed.
SolIM in partnership with Ministry of Skill Development and Entrepreneurship (MSDE) and T-Hub hosted a partnership summit with a view to provide a platform for social investors, mentors and entrepreneurs to interact, showcase their business models, learn and explore opportunities of working together. The summit also had its focus on highlighting the plans, programs and support offered by Government of India for helping social enterprises achieve scale.
The emerging magnitude of “Sustainability and Inclusiveness” in Indian businesses calls for a synergistic approach where the Industry, Government, Entrepreneurs, Funding bodies, Research Agencies and Academicians join hands and evolve business models that are replicable and scalable. The workshop organized by Administrative Staff College of India on “Inclusive and Sustainable businesses – Creating markets with the poor” on December 6, 2014 aimed at creating a common forum for articulating the importance of such businesses, sharing the best practices, identifying the challenges for scale and discussing the way forward.The workshop derived its focus from the following:
The workshop was well attended and well received by 15 eminent panelists and 23 other professionals. The day proved to be fruitful with Interactive sessions and active participation by CSR officers, social entrepreneurs, CEOs of social businesses, academicians, and representatives from funding and development organizations. The areas of deliberations ranged from India’s development agenda, challenges involved in developing viable social ventures, behavioral understanding and best practices related to including the poor as producers, creating collaboration and enabling environment for social entrepreneurs.