Skoll Scholar and Oxford Saïd MBA student, Pip Wheaton, shares her insight into the Live Pitching Event which took place on Monday 13th June 2016. Images are courtesy of MBA Student, Ryan Chen-Wing.
Saïd Business School’s mission refers to “tackling world-scale problems”. While there are days where the pressure of assignments and classes gets in the way, this year I have seen proof that this school lives its mission. Last night was one such moment of proof. At an event that combined the inaugural Oxford Global Challenge, and the fourth Skoll Venture Awards students and alumni from Oxford Saïd and the wider Oxford University student body came together to showcase the diverse ways they are addressing world-scale problems.
The Oxford Global Challenge came about as a response to the normal university business plan competition. An initiative of the Skoll Centre, it is based on the premise that tackling global challenges starts with understanding a problem and its wider context, rather than jumping straight into a business plan or an idea for a quick fix. It gives participants an opportunity to develop a deep understanding of a pressing social or environmental issue by mapping out the landscape of the current solutions and identifying missing opportunities for positive change. In this first year, there were 43 teams who applied, of whom nine were selected as finalists and four pitched at last night’s event. The issues ranged from telemedicine in South Africa, to refugee integration in Germany, and agriculture in Sierra Leone. The winning team were two students focused onmaternal mental health in India and South Africa.
The Skoll Venture Awards support ideas in the next phase of development: where solutions have been developed and tested, but are still in the early days of implementation. Alumni and students apply for a £20,000 grant to grow their existing, early stage ventures. Here the applications were just as varied as in the Global Challenge: a large-scale renewable energy project in Mongolia, an early-childhood development initiative in Kenya, and online tutoring in India, and more.
In what was one of the toughest projects I have worked on since coming to Oxford, I was part of the team of students who short-listed the 21 applicants and selected the two finalists who presented last night. Having spent the last six years being on the applicant side while running my own venture in South Africa, it was fascinating to learn about the selection side. Specifically, there were three main learning points
- About how much process matters – the criteria and questions might seem arbitary from the outside but unless you get them right, it’s almost impossible to make fair decisions.
- About how to minimise cognitive biases like ‘group think’ and ‘curse of knowledge’; and
- About the challenges of comparing ventures at different stages, in different geographies, tackling different issues.
Through this experience, I found myself looking at organisations like Acumen and LGT Venture Philanthropy and appreciating why their due diligence processes last upwards of six months. I also found myself relieved to be able to hand over to a judging panel of industry experts rather than having to make the final decision myself. Last night the two Skoll Venture Award finalists presented their organisations. The first, i-Drop Water, is one of the most exciting clean-water access businesses I have come across; and is piloting concurrently in Ghana, Botswana, Zimbabwe and South Africa. The second, was Tulivu – a medical diagnostics service provider, currently offering low-cost ultrasounds to pregnant women in Kenya. While originally there was only going to be a single prize of £20,000; in what felt like a fitting result, the judging panel were able to award not one, but two grants. i-Drop Water was awarded £10,000 and Tulivu was awarded the first place prize of £20,000.
These two initiatives, the Oxford Global Challenge and the Skoll Venture Awards, are exciting not only because of the inspiring ideas that were pitched last night, but more because of the shift in thinking they demonstrate. Too often we fetishise the big exciting ideas, before testing whether or not their premises and assumptions hold. These initiatives show that the school and the Skoll Centre are serious about giving students an opportunity to “apprentice with the problem” they care about, rather than jumping straight to the solution-stage. I am excited to see how each of the ideas showcased develop in the coming years.