Social Entrepreneurship at Chicago Booth

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Social Entrepreneurship at
Chicago Booth
Robert Gertner, Joel F. Gemunder Professor of Strategy and Finance
Linda Darragh, Director of Entrepreneurship Programs, Clinical Associate Professor of Entrepreneurship
Agenda
1. Social Entrepreneurship Lab
•
New format
•
Projects for winter 2011
•
Application process
2. Social New Venture Challenge
•
Why a ‘Social’ New Venture Challenge
•
How it works: Schedule / Entry Rules and Guidelines
•
What goes into a Feasibility Summary?
Social Entrepreneurship Lab
New Format
•
More focus on project management
•
Tactical help on survey design, market research
•
Specific classes on the ‘business’ of
• Microfinance
• Fair trade
• Education
• Workforce development
• Technology
Social Entrepreneurship Lab
Projects this quarter:
ACCION-Chicago
Center for Economic Progress
Chicagoland Entrepr. Center
Five Accessories
Fresh Taste
I-Go
One Hope United
PowerHouse High
Urban Education Institute
World Child Project
Measuring outcomes of ex-offender program
New membership model and pricing
Positioning and marketing
Licensing with sports teams and colleges
Working capital facility for food businesses
Leasing company for car sharing
Early education expansion strategy
Marketing strategy for a charter school
Developing national consulting product
Crowdsourcing of volunteer medical services
Social Entrepreneurship Lab
Application Process: Booth Students
• Apply to course through regular bidding process
• Once accepted into the class you will receive an e-mail
• Choose 3 projects
• Send your resume
• Professor forms teams
• Announce teams by mid-December or before
Social Entrepreneurship Lab
Application Process: Non-Booth Students (10 spots)
Application form due by Nov. 22 to [email protected]
1. Describe relevant background and how it will affect your contribution in class
2. Explain how taking this course will advance your career and academic
objectives.
3. Choose 3 projects
4. Send your resume
• Once accepted into the class you will receive an e-mail
• Professor forms teams
• Announce teams by mid-December or before
Social New Venture Challenge
Similar to the New Venture Challenge (NVC)
• Conducted over several months
• Coaching and mentors
• Team members selected to participate in spring course
• Finals with investor input
• Prizes for top teams
Different than NVC
• Social ventures
• Course includes teaching modules
• Prizes not investment
Social New Venture Challenge
What is a Social Venture?
• Sacrifice some profit for social impact - less than 10x returns
• Community development, education, orphan drugs, global health & poverty
alleviation, environmental
• Qualifying organizations may be structured as for-profit or non-profits
• Must plan to be financially sustainable – through profits, earned income,
philanthropy, government aid, or some combination thereof
Femi Akinde, ’08
Presentation at the Chicago Social
Venture Forum in October 2010
Entry Rules and Guidelines
Team Composition
• At least one currently registered student at University of Chicago
• Preference to teams that include at least one Chicago Booth student
• At least one student needs to be a founder / integral member of the team
• Student cannot just be a consultant
• Student cannot be a minor player
• Venture teams can include non-students, and students who do not register for
the course, but registered students must give all presentations. Non-students can
help answer questions during presentations.
• Size of team: no minimum or maximum
Entry Rules and Guidelines
Originality of Venture Ideas
• Generally idea should be original
• Business plans for early stage ventures may be acceptable if:
• a Chicago Booth student is a founder; or
• a Chicago Booth student is in senior management team of the venture; and
• Proposed venture must not have been in operation for more than three years.
• Ventures that have already been launched that have received some funding
must disclose the amounts and sources in the application.
• Business plans that have participated in the past as part of other university
business plan competitions are not eligible unless approved by one of the
SNVC faculty or coaches.
Entry Rules and Guidelines
Protection of Intellectual Property
•
The University, sponsors, and organizers of the SNVC have taken all
reasonable measures to assure that all contestants retain their rights to the
Business Plan and Intellectual Property.
•
The protection of these rights is the ultimate responsibility of each contestant.
•
Contestants are urged to mark as CONFIDENTIAL any portion of their Entries,
which they consider to be proprietary, or of a sensitive nature.
Important Dates
Fall Quarter
11/10/10
Winter Quarter
Early Jan.
02/07/11
SNVC Kickoff, followed by networking event
02/24/11
Late Feb.
SNVC Workshop
Phase I feasibility summaries due at 10 am to
Harper Center, Room 207
Announce teams that will advance to Phase II
Orientation Session for Phase II teams
Spring Quarter
03/29/11
05/31/11
BUS 341115 New Social Venture course begins
Finals at Harper Center
New Social Ventures - 34115
Traditional Academic Component
• Case studies, lectures, and readings about social organizations and related
institutions
• Topics will include; evaluating a new social enterprise, financing a social
startup, managing a social organization, managing and financing growth,
measuring performance and social impact, and governance
Social New Venture Challenge
• Develop an idea for an innovative, startup social organization
• Create a detailed plan for its creation and growth
• Pitch the plan to faculty, social entrepreneurs, domain experts, foundation
officers, and philanthropists
What Goes Into a Feasibility Summary?
• What does your organization do?
• What problem does it solve? What is your theory of social impact?
• How is your idea innovative?
• How does it differ from other competing organizations?
• What is the target market?
• What is your go-to-market strategy?
• How will you become financially sustainable?
• What is your operating model?
• Who is your team?
• Why will this succeed?
Be concise. Use simple language.
NVC Website
www.chicagonvc.com
• Link to key dates,
deadlines, and
events for the
2010-11 New
Venture Challenge
and Social New
Venture Challenge
• Link to online
team building
site where
people can post
ideas and team
openings
• Link to official
SNVC rules
and
regulations,
sample
feasibility
summaries
• Check here for
the latest news on
current & former
NVC Companies
Team Formation and Networking
http://linkd.in/SocialNVC
Get feedback
on a new
business idea!
Find team
members for
your SNVC
Entry!
Share your resume &
expertise to let other
students find you!Articles and
resources
Thank you
Robert Gertner, Joel F. Gemunder Professor of Strategy and Finance
Linda Darragh, Director of Entrepreneurship Programs
Clinical Associate Professor of Entrepreneurship
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