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1 Clic para editar título Innovación Social Valencia 16 de abril de 2010

2 Clic para editar título D. Richard Kivel Presidente del MIT Enterprise Forum y Patrono de la Fundación de la Innovación Bankinter

3 Entrepreneurship in support of Social Innovation Polytechnic University of Valencia 16 th April 2010 Richard P. Kivel Chairman and President : MIT Enterprise Forum, Inc. Senior Lecturer : MIT Sloan School of Management Chairman and CEO: Rhapsody Biologics, Inc. kivel@mit.edu

Kivel Chairman and President : MIT Enterprise Forum, Inc.

4 Social innovation: New strategies, concepts, ideas and organizations that meet social needs of all kinds - from working conditions and education to community development and health - and that extend and strengthen civil society.

working conditions and education to community

5 Social Entrepreneurship: A social entrepreneur is someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change. the power of business to solve social and environmental problems

to organize, create, and manage a venture to make social change.

6 In the Early stages of an economic system, the rewards go to those individuals who create the NEW, not to those who conserve the old Entrepreneurship becomes more important than stewardship Social Entrepreneurs must actively seek collaborations and partnerships Government Support is critical to support global efforts

more important than stewardship Social Entrepreneurs must actively seek

7 1. Integrity 2. Leadership skills 3. Positive attitude 4. Impatient, passionate, action oriented behavior 5. Seeks and accepts coaching / selects Advisors 6. Pragmatic; willing to compromise 7. Support other entrepreneurs 8. Driven to solve a valuable problem for the world 9. Ability to attract world class talent 10. Can identify and secure funding

Seeks and accepts coaching / selects Advisors 6. Pragmatic; willing to compromise 7.

8 Innovation Engine Driving Social Economy Innovation Engine = Power of Social Entrepreneurship The Power of Social Entrepreneurship comes from: Focus Willingness to take risk Corporate and Government Support Funding as a catalyst for creation Strategy assistance Powerful networks including access to key customers Professional experienced management oversight

take risk Corporate and Government Support Funding as a catalyst for creation Strategy

9 Goals of Academic Researchers To impact the world in some small or large way with their work To gain respect from their colleagues through publication and research To be considered a thought leader in their field To be challenged intellectually and feel like they are doing important work

publication and research To be considered a thought leader in their

10 Goals of Institutions (The MIT perspective) Creation and dissemination of knowledge Tech Transfer and Company Startups Create benefits that impact society Enhance the educational process Create companies and jobs Provide funds to patent future ideas Provide modest income to the Institution Ex: DFA spin out of Harvard

society Enhance the educational process Create companies and jobs Provide funds

11 Goals of Entrepreneurs Build valuable companies which: Have a significant impact Be challenged intellectually To work with the best and brightest people Create jobs Create wealth for themselves and others

intellectually To work with the best and brightest

12 Combined Effort Institutions Academics Entrepreneurs Social Impact

13 Innovation/Entrepreneurship at MIT MIT Global Social Ventures Competition MIT $100K Entrepreneurship Competition (Development Track) Results of Kauffman Foundation/MIT Study (2009) 25,800 currently active companies formed 3.3 million employees $2 trillion in annual revenues If considered as a standalone economy, these spinoffs would be the 11-17th largest in world

Foundation/MIT Study (2009) 25,800 currently active companies formed 3.

14 Critical Success Factors around Social Innovation and Technology Commercialization

15 Success Factors Quality of technology Supports several new products Large market potential Quality of management Focused strategy Thorough market understanding Realistic product development plan Quality investors Track record building successful businesses Network of connections with partners/customers Personal involvement with business Access to money over long term Environment / Ecosystem Supportive culture and ecosystem Network of Entrepreneurs

building successful businesses Network of connections with partners/customers Personal involvement with business

16 The Social Entrepreneur and the Ecosystem

18 Case Studies Global Cycle Solutions

19 Case Studies

20 Support for Social Efforts B Corporations are a new type of corporation which uses the power of business to solve social and environmental problems. Stanford Social Innovation Review Social Innovation Camp brings together ideas, people and digital tools to build web-based solutions to social problems

net Stanford Social Innovation Review http://www.ssireview.

21 Summary / Key Takeaways Collaboration is key for success in early stage Social Ventures Government support can play an important role or stop innovation Measure success continuously assess & evaluate and change Take risks early but leverage partners Don t always build new, improve existing Look towards the future and identify trends Act Boldly & Change the World

22 Thank you Richard P. Kivel Chairman and President : MIT Enterprise Forum, Inc. Senior Lecturer : MIT Sloan School of Management Chairman and CEO: Rhapsody Biologics, Inc. kivel@mit.edu

23 Innovación Social Valencia 16 de Abril de 2010.

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