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| Supporting Social change through Income Generation |
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| As part of IVN's social-economic approach, we are now developing a pilot program which will extend our support to: |
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Income generation for social entrepreneurs |
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Social businesses / social enterprise incubation. |
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As part of IVN's pragmatic philosophy, in conjunction with the changing financial world and the immense affect on social innovation, we would like to ensure sustainability and financial stability through the implementation of our venture philanthropy methods and processes leading to income generation. By providing entrepreneurs with our real-world strategies, we help them develop a foundation and infrastructure for financial stability, sustainability and growth in order to maximize social impact.
In addition, similar skill sets are needed in order to support social enterprises that are dedicated to social change, coming from the business sector.
Currently we are developing the new program which we are expecting to introduce as a pilot program to a selected group of social and business entrepreneurs. The model we are now developing combines the following IVN models introduced as part of our programs: |
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IVN's Economic Reconstruction Initiative (IERI) |
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The Social Entrepreneurship Fellowship Program |
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IVN's Entrepreneurial Toolbox & Mentorship |
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IVN/JFN loan fund |
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And Future – possible partnership with a Social Venture Capital fund |
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| Methodology: |
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Focusing on a business oriented board and management team in addition to content expertise |
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Shifting to a business model which is less dependent on philanthropic funding |
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Investing in mapping, developing and productizing services and products that are relevant to market demand |
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Focused targeting of relevant potential audiences |
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Reducing reliance on government support |
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Re-branding in order to emphasize strength and capabilities rather than focus on neediness |
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Utilizing growth tools such as loans and investments. |
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| We have already started implementing the methods with our current social entrepreneurs and intend to further extend the pilot program in Q3 of 2009 with other selected Israeli social entrepreneurs and social businesses. |
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