This post was written by SBS MBA Nikhil Neelakantan, who has just returned to Oxford after 3 days at SOCAP/Europe.
Last night’s six-member panel brought SOCAP/Europe to an appropriate end.
The panel consisted of social entrepreneurs, volunteers and the founding members of SOCAP/Europe, Kevin Jones and Frank van Beuningen. This was typical of the conference: people from all backgrounds brought together by an interest and passion for impact investing.
This resulted in conversations that frequently needed translation (No, structured banking does not deal with the architecture of banks!) but it also meant that people were exposed to different points of view.
This also meant that there was space for a deep-dive into the details of impact investing as well as an opportunity to learn about innovative organizations using SMS technology in developing countries.
Another feature of the conference were the participant-driven Open Space sessions. I was able to attend two of these sessions, which were “held” in an Unconference format. The first described the work of the World Bank in creating the Development Marketplace. The World Bank Institute created the Development Marketplace over 12 years ago to provide grants to innovative social ventures. Now it is looking to help these social entrepreneurs get commercial investments.
The second Open Space session that I attended was built around the question of providing financing to SME’s trying to build businesses in rural India. We had participants who were eager to start asking questions of those who had already built these links in India. The consensus was that there was lots of opportunity but that one had to proceed by developing partnerships with Indians who were already working in this space (this includes government agencies such as IDBI).
The conference also brought some reflection on the future of SOCAP/Europe. Where is it going next? It seems logical that it will stay physically in Amsterdam (The Dutch have $7bn invested by retail investors in social enterprises through organizations like Triodos Bank and Oikocredit. They are surely the world’s epicenter in social investment).
However will the format remain the same? Will more policy makers and government entities get involved? Despite the lingering questions, we left the conference buoyed by the fact that we were setting the foundation for a larger group of people who were willing to venture forward into the brave new world of impact investing.