Impact Newsletter 3

Intro

The concept of development constructed in the Western world was based on the mechanistic and rationalist paradigm, from a vision of domination over nature, and left aside care for the environment.

In this sense, the environmental paradigm demands that development be seen as intrinsic to the very essence of the environment. This vision leads to acting on any sphere from an approach in which nature and the environment are considered as strategic factors of development. Indeed, the proposal of 'sustainable development', as its name suggests, is an attempt to address, in an integrated manner, the challenges of our humanity.

The understanding of this approach leads to the interpretation of the complex reality and the recognition of development as a process permeated by relations of interdependence and complementarity, in which respect for nature, knowledge of its limits, its history and participation in the construction of the future become the most relevant elements in the search for a legitimate development process.

Different dimensions of sustainable development

The characteristics of the new era are not entirely clear, and its implications are not yet consolidated. However, some of its elements are shaping the current reality. There are different dimensions that, from this perspective of sustainability, cannot be ignored in the analysis of a development model:

Meeting basic human needs
Achieving steady economic growth
Improve the quality of economic growth
Addressing demographic aspects
Select appropriate technological options
Use, conserve and restore natural resources

Added to all this is the human dimension of development as a completely new perspective, a revolutionary way of redefining our conventional approach to development. Rather than waste of development, human beings can finally become its main object and subject, not a forgotten economic abstraction but a living operational reality, not helpless victims or slaves of development processes themselves, but their masters.

Output 2- Design Thinking for Impact Incubation Toolkit

The design thinking approach emphasizes on the rapid prototyping of a solution for a quick feedback and review whether to continue with the development or alter specific elements to adjust to what actually the need to be addressed is. So, having the right design thinking tools tailored to mentors or investors who support social entrepreneurs are of great importance for the early stage of incubation of an idea, especially when expecting a high impact, whether societal, environmental, or economic.

The schema of the design thinking process is presented in your right

Our Consortium developed a Survey aiming to find out to what extent the coaches were familiar with the design thinking process and to see what skills they lacked to be able to implement their activities through this method.

As you can see in the example in your right not all answers were equally clear.

The DTi2 Toolkit aims at producing a high-impact structured and empathetic model for mentors to embed within their instruments in better supporting social entrepreneurs in developing their ideas at an early stage, while focusing on the commercial side of their enterprises rather than just on impact.

The Erasmus+ project i2SustainIT presumes that having the right design thinking tools tailored to mentors to support social entrepreneurs are of great importance for the early stage of incubation of an idea, especially when expecting a high impact, whether societal, environmental, economic.

Existing Impact Measurement Frameworks

There are a wide range of measurement tools and approaches used within impact investment, and these are used by both investees and investors, as well as third party certifiers (e.g. for ecolabel certification). Research has found that investors tend to use a number of techniques that are suited to their specific needs. Read more...

Types of investors

Securing capital should be a top priority for you and your company. Funding will allow you to continue creating impact and improving our world.

Who can be your supporter?

High Net Worth Individuals & Angels

These are individuals who invest their money in the initial phase of startups, in exchange for a participation in capital. They also usually carry out the role of a mentor.

Friends & Family

They’re people who know you and likely believe in your organization’s mission.

Foundations

Given their philanthropic goals, capital from family foundations is often readily provided to social enterprises.

Government Investment Funds

A government investment fund, or sovereign wealth fund, is money that is generated and controlled by the government.

International NGOs

Many NGOs are turning to impact capital to fulfil long-term goals.

Investment Funds

These investment funds are not always oriented with positive social and environmental aims but they can be.

Institutional Investors & Banks

Coming from a demand from asset owners to support socially and environmentally oriented options, it’s likely that we will continue to see institutional investors play a role in supporting social entrepreneurship.

Agenda Update

Stay tuned for our latest outputs that will be coming out to you very soon.

Extension of the project

Due to the worldwide pandemic situation, we have been through, our project has also been affected in some way. It was at the last monthly meeting on May 19th that we considered that it might be interesting to request an extension of the project. We are currently taking into consideration that asking the mentors and future entrepreneurs to make a trip with PCRs in between and so on does not put them in the most comfortable situation to move forward.

What to expect?? Next steps

Next 16th June we will have our next progress meeting in which we will advance on Output 2 of which you have read about in this same newsletter.

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Check out our impact newsletter 2