COVID-19 Action Agenda Leaders on the Front Line: Why Social Entrepreneurs Are Needed Now More Than Ever
COVID-19 Action Agenda Leaders on the Front Line: Why Social Entrepreneurs Are Needed Now More than Ever
SEPTEMBER 2020 COVID-19 ACTION AGENDA SEPTEMBER 2020
World Economic Forum 91-93 route de la Capite CH-1223 Cologny/Geneva Switzerland
Tel.: +41 (0)22 869 1212 Fax: +41 (0)22 786 2744 Email: [email protected] www.weforum.org
© September 2020 World Economic Forum. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system. COVID-19 ACTION AGENDA Cover: Yunus Social Business, India, Akhil Pawar SEPTEMBER 2020
Contents
5 Foreword
8 Executive summary
10 Chapter 1 COVID-19: A global crisis, hitting the most vulnerable the hardest
14 Chapter 2 Why social entrepreneurs are needed now more than ever
18 Chapter 3 What social entrepreneurs need to play their part
25 Chapter 4 COVID-19 Social Enterprise Action Agenda
28 4.1 Supporting intermediaries
30 4.2 (Impact) investors
32 4.3 Corporations
34 4.4 Funders and philanthropists
36 4.5 Government institutions
39 Chapter 5 The road ahead
41 Appendix 1 Who are social entrepreneurs?
42 Appendix 2 About the COVID Response Alliance for Social Entrepreneurs
45 Alliance member profiles
68 Acknowledgements
69 Endnotes
COVID-19 Action Agenda Leaders on the Front Line 3 COVID-19 ACTION AGENDA SEPTEMBER 2020
“We call on all actors to stand by social entrepreneurs as front- line responders to the COVID-19 crisis and as pioneers of a green, inclusive society and economic system.”
Members of the COVID Alliance for Social Entrepreneurs
Aavishkaar Group, Acumen, Africa Venture Philanthropy Alliance (AVPA), Agora Partnerships, Argidius Foundation, Ashoka, Asian Venture Philanthropy Network (AVPN), Aspen Network of Development Entrepreneurs (ANDE), B Lab, CASE at Duke University, Catalyst 2030, Co-Impact, DOEN Foundation, Draper Richards Kaplan Foundation, Echoing Green, Euclid Network, European Venture Philanthropy Association (EVPA), Fundación Avina, GHR Foundation, Global Impact Investing Network (GIIN), Global Innovation Fund, Global Steering Group for Impact Investing (GSG), Greenwood Place, IIX, IKEA Foundation, IKEA Social Entrepreneurship, Impact Assets, Impact Hub, International Labour Organization, Johnson & Johnson, KIVA, Latimpacto, Lex Mundi Pro Bono Foundation, Mercy Corps Ventures, Motsepe Foundation, NESsT, Nonprofit Finance Fund (NFF), Open Road Alliance, Rippleworks, Root Capital, Salesforce.org, SAP, Schwab Foundation, Shell Foundation, Skoll Foundation, Sorenson Impact Foundation, Thomson Reuters Foundation, UNDP Business Call to Action, UNDP SDG Impact, United States African Development Foundation (USADF), USAID Center for Innovation and Impact (CII), Village Capital, Yunus Social Business, 60 Decibels
COVID-19 Action Agenda Leaders on the Front Line 4 COVID-19 ACTION AGENDA SEPTEMBER 2020 Foreword
“Everything we do during and after their employees, and the families whose lives they this crisis must be with a strong focus touch. They were able to bring affordable healthcare on building more equal, inclusive and to those in need, protect thousands of jobs and sustainable economies and societies provide emergency relief swiftly. that are more resilient in the face of pandemics, climate change and the many For social entrepreneurs to lead, however, they need each of us – funders, investors, corporations, other global challenges we face.” Hilde Schwab supporting intermediaries and governments alike – Chairperson, Schwab to connect them with capital and support to adapt, Foundation for Social When UN Secretary-General António Guterres spoke continue and expand their work. Entrepreneurship of the effects of the crisis and what it meant for the efforts of change-makers all over the world to build The COVID Response Alliance for Social a better world, it was clear that today’s systems are Entrepreneurs is collaborating with 60 leading not shockproof or able to manage the immediate social-change organizations towards a common and long-term consequences of the pandemic. goal: to support social entrepreneurs who protect the most vulnerable in this crisis and One by one, countries have gone into lockdown, shape the transition to a new normal in its people are withdrawing into their homes and circles, aftermath. and vulnerable and marginalized communities are being hit the hardest: those living in poverty, without The support of the Schwab Foundation and its François Bonnici the security of a job or furlough scheme when jobs partners, the GHR Foundation, Yunus Social Head, Schwab Foundation disappear, migrants or the homeless – the list goes Business, Duke University and Catalyst 2030, for Social Entrepreneurship on. The World Bank estimates that over 420 million enabled the Alliance members to understand the additional people will be pushed into poverty, writing needs of social entrepreneurs during the COVID off all the gains made to alleviate poverty since 2016. crisis, coordinate and amplify their respective These communities need global solidarity urgently. support efforts, and collectively outline an Action Agenda towards this goal. At the Schwab Foundation for Social Entrepreneurship, we have worked for the past By means of this COVID-19 Action Agenda, two decades to help social innovators and members of the Alliance invite their peers, entrepreneurs build and scale their important work businesses and governments, to join them in action. to find alternatives to our systemic failures and The Action Agenda builds on the commitments inequalities. Now more than ever, we need these and actions that our members have already taken leaders – not only to help provide the immediate and seeks to both inspire and provide practical assistance to the vulnerable, but also to inspire a guidance on the “why”, “what” and “how” of the “reset” of our society that is failing so many today. recommendations included in this document.
In March of this year, when the scale of the Unprecedented times call for unprecedented actions. COVID-19 pandemic became apparent, social We urge you to join us and other members of the entrepreneurs across the world – including many Alliance to take bold and immediate action. The time in our Schwab Foundation community – were to get behind our social entrepreneurs, many of whom quick to stand by their communities and clients, are working on the front line of the crisis, is now.
COVID-19 Action Agenda Leaders on the Front Line 5 COVID-19 ACTION AGENDA SEPTEMBER 2020 Raj Panjabi “Social entrepreneurs play a critical Chief Executive Officer, role in serving the most marginalized Last Mile Health, USA members of our global society. Their work has never been more important as we respond to COVID-19. We call on leaders across the public, private and social sectors to invest in these first responders now.”
Muhammad Yunus “Before COVID-19 struck, the global Chairman, Yunus economy was like a high-speed train Centre, Bangladesh; heading for self-destruction. The Chairman, Yunus Social pandemic has stopped the train and Business, Germany; given us an opportunity to redirect the Nobel Peace Prize Laureate (2006) tracks with social businesses in the lead.”
Achim Steiner “To achieve the SDGs and shape Administrator, United a new tomorrow from the global Nations Development pandemic, we must scale up Programme (UNDP), sustainable solutions. Social New York entrepreneurs are critical to achieving the SDGs as they offer financially self- sustaining models for positive social and environmental change.”
Jon Abrahamsson “Now, more than ever, we need to Ring come together to lay the groundwork Chief Executive Officer, for an inclusive recovery. We are Inter IKEA Group, committed to standing by our different Netherlands partners, including social entrepreneurs. This is a critical way for us to contribute, learn, innovate and scale for positive impact on people, the planet and society. We are in this together.”
Amy Goldman “This pandemic reminds us that our Chief Executive Officer differences in faith, culture or politics and Chair, GHR are superseded by what we have Foundation, USA in common. Whether someone is a social entrepreneur or a member of a faith community or both at once, we all share a deep desire to alleviate suffering, support human dignity and help people build a better future. This Alliance is going to help people do exactly that.”
COVID-19 Action Agenda Leaders on the Front Line 6 COVID-19 ACTION AGENDA SEPTEMBER 2020 Janet Longmore “The pandemic is having a devastating Founder and Chief impact on the planet and its citizens, Executive Officer, particularly on those who are Digital Opportunity marginalized. We must come out of Trust (Catalyst 2030 this with a transformative change that and Schwab Social Entrepreneur) addresses our critically flawed social and economic systems and is driven by the experience, principles and mindset of the social entrepreneur.”
Cheryl Dorsey “As the pandemic disproportionately Founder and President, impacts marginalized communities in Echoing Green, USA real time, social entrepreneurs confront these inequities by reimagining the systems that work for too few of us. By joining forces to foster change using an alliance-based model, we have a real chance of transforming the world.”
Michael Sneed “The COVID-19 crisis only strengthens Executive Vice- our resolve at Johnson & Johnson to President, Global support social entrepreneurs leading Corporate Affairs, and the changes so urgently needed to Chief Communication put good health in reach of everyone, Officer, Johnson & Johnson, USA everywhere. We stand with our partners around the world to act swiftly now more than ever.”
Precious “The outbreak of COVID-19, and the Moloi-Motsepe subsequent lockdown restrictions Founder and Chief imposed, have resulted in significant Executive Officer, alterations to the livelihoods of African Fashion Africa’s most vulnerable people. We International (AFI), South Africa can only reach the other side of this crisis if we collaborate, and take on this fight together.”
Hilde Schwab “Social entrepreneurs are battling Co-Founder and at the forefront of this pandemic Chairperson, Schwab using their ingenuity to confront the Foundation for Social problems on the ground. The Alliance Entrepreneurship was launched to help them to play their part and be the role models for a new societal reality that they are.”
COVID-19 Action Agenda Leaders on the Front Line 7 COVID-19 ACTION AGENDA SEPTEMBER 2020 Executive summary
While some countries are already addressing the For decades, social entrepreneurs have effectively aftermath of their COVID-19 outbreak, the World reached and helped vulnerable populations and Health Organization projects that the worst is have served as the guardians of people and the yet to come in many developing and emerging planet. Often and increasingly, they: countries, with the global pandemic expected to last at least another year. 1. Bring vital products and services to those on the fringes of society, while acting as first As of August 2020, over 20 million cases of responders during a crisis COVID-19 have been reported, of which one- third are in Africa, Brazil and India. Marginalized 2. Sustain jobs and social security, at a time communities worldwide are being hit the hardest when the effects of losing one’s income can be by the health and economic effects of this particularly devastating crisis and will thus continue to struggle. The pandemic has a much greater impact on these 3. Innovate to address the intractable social and communities: an additional 100 million1 people environmental challenges society faces could slip into extreme poverty – a number that could easily climb higher. Decades of work to 4. Champion the sustainable development agenda, tackle impoverishment are being erased as the calling for an inclusive and green economy and world witnesses a rise in global poverty for the a reset of markets first time since 1998. 5. Empower and create agency among With citizens and decision-makers shifting their communities so they can develop and advance attention to the immediate effects of the crisis, their own trajectories and solutions. and with a global recession looming, the future of people and the planet, embodied by the The social entrepreneurs’ track record and ingenuity Sustainable Development Goals (SDGs) and the to confront immediate problems on the ground are Sustainable Development Agenda, is at risk of vital to the collective ability to weather the crisis permanently falling behind. today and shape a new tomorrow.
COVID-19 Action Agenda Leaders on the Front Line 8 COVID-19 ACTION AGENDA SEPTEMBER 2020 Yet, for social entrepreneurs to play their part, Keeping these principles in mind, the COVID-19 significant capital as well as non-financial support Action Agenda calls on: are needed; many face important operational and viability challenges, with a large number even –– Intermediaries and networks to provide facing bankruptcy. In this area also, those social fitting support to social entrepreneurs and the entrepreneurs serving or working with low-income communities they serve, and to make known households seem to be disproportionately affected. the needs and priorities of social entrepreneurs on the ground For social entrepreneurship to survive and thrive, these entrepreneurs critically need capital support so –– (Impact) investors to adapt their investment that they can adapt, expand and protect their impact priorities and processes, and to provide during the COVID-19 pandemic and its aftermath. The flexible capital as well as must-have technical exact amount of capital needed is difficult to estimate, assistance but it is significant. According to the multistakeholder initiative Collaborative for Frontier Finance, before the –– Corporations to stand with social COVID-19 crisis, the global financing needs of small entrepreneurs within their supply chains and and growing businesses (SGBs), which include social the broader ecosystem, fulfil their agreements entrepreneurs, amounted to $930 billion with the and extend their support to build a more SDG financing gap estimated at $2.5 trillion. There is inclusive and resilient economy little doubt that these already considerable gaps have widened significantly due to the crisis. –– Funders and philanthropists to expand and expedite their support to social entrepreneurs The COVID Response Alliance for Social and intermediaries, taking risks reflective of Entrepreneurs was launched in April 2020 by 60 today’s unprecedented times leading social-sector organizations aiming to help mobilize support and raise awareness of the vital role –– Government institutions to recognize social these entrepreneurs play in tackling the crisis and entrepreneurs as a driving force in safeguarding beyond. In various capacities, the members of the jobs and in pioneering a greener and equitable Alliance support over 50,0002 social entrepreneurs society, as well as to back them accordingly. across the world. The entrepreneurs, in turn, have a direct or indirect impact on the lives of nearly 1 billion The COVID-19 crisis will continue to people according to their own estimates‚ providing disproportionately affect excluded and vulnerable access to employment, food, affordable energy and populations negatively for years to come. All other critical services. sectors’ help is needed to create the enabling conditions for the social enterprise ecosystem to In this COVID-19 Action Agenda for social survive, thrive and hold everyone accountable to entrepreneurs, members of the Alliance commit raise the bar on what is currently an economic to and call on their peers to stand by social model that our planet cannot sustain. entrepreneurs in their capacity as front-line responders to the health crisis and as pioneers of The members of the COVID Response Alliance a green, inclusive society and economic system. for Social Entrepreneurs will continue to take and Along with a group of social enterprise representatives invite engagement in each of the action areas participating in the Alliance, the members have mentioned in this Action Agenda. Leading up to identified five core COVID response principles and the World Economic Forum Annual Meeting 2021, concrete areas in which different actors can take action. the goal is not only to help safeguard the future of social entrepreneurs but to inject their perspectives as pioneers of a new economic reality into the The five COVID-19 response principles for those Forum’s Great Reset initiative. seeking to support social entrepreneurs are to:
1. Make the voices of social entrepreneurs and their communities heard
2. Prepare to respond, recover and reset – taking the opportunity to shape a new tomorrow
3. Collaborate across sectors in recognition of the complexity and scale of the crisis
4. Look beyond healthcare, given that COVID-19 touches all areas of people’s lives
5. Support the shovel-ready solutions that grassroots organizations are already able to provide today.
COVID-19 Action Agenda Leaders on the Front Line 9 COVID-19 ACTION AGENDA Below: Kids’ Educational Engagement Project SEPTEMBER 2020 (KEEP), Social enterprise in Liberia, supported CHAPTER 01 by Alliance Member Acumen
1 COVID-19: A global crisis, hitting the most vulnerable the hardest
COVID-19 Action Agenda Leaders on the Front Line 10 COVID-19 ACTION AGENDA SEPTEMBER 2020 In the first six months of 2020, COVID-19 affected Lockdowns in their varying degrees of severity CHAPTER 01 almost all countries and over 20 million people and other forms of social distancing have made it around the world.3 Beyond the adverse health possible to avoid loss of life. Yet these measures effects and human tragedy caused by the virus, it is have also come at a human cost. widely recognized that the pandemic has triggered the most severe economic crisis in a century. As the crisis continues to accelerate in emerging and developing markets, many of which The crisis has brought about radical uncertainty, are ill-equipped to handle a pandemic, the with more than half of the world’s population extreme impacts of COVID-19 on low-income experiencing lockdowns with strong containment populations are significant. The poorest in these measures. The Organisation for Economic Co- countries, including daily-wage labourers and operation and Development (OECD) predicts global migrant workers – rural and urban – lack access economic activity to fall between 6% and 7.6% to even the most basic necessities like food in 2020,4 depending on whether a second wave and water, and are forced to choose between of infections hits before year-end. Unemployment their health and their livelihoods. The tough levels and the number of aid seekers have choices these populations are forced to make increased, in some cases dramatically. And the lead to additional distress. COVID-19 is causing impact of the crisis will be felt for a long time as an undeniable slide backwards, slipping away the direct response, subsequent recovery and from the SDGs. In June 2020, the World Bank rebuilding efforts will take years. projected that as many as 100 million additional people could be forced into extreme poverty – The impact of the crisis on people’s lives is living below $1.90 per day – due to COVID-19.5 drastically uneven. The virus has exposed Undeniably, global extreme poverty is increasing and exacerbated many underlying structural for the first time since 1998. inequalities in the social fabric, disproportionately affecting women, black populations, For each of us, but most importantly for these minority groups, informal workers and those communities, a comprehensive and sustained systematically excluded from participating equally response to the crisis and its aftermath is a matter in our society and economy. of life and death.
Respond, Recover, Rebuild – Reset
As COVID hit the world, experts recognized three phases in the crisis: response, recovery and, ultimately, rebuilding. Throughout, there RESPOND RECOVER REBUILD & RESET is an opportunity for a Great (0-12 months) (6-18 months) (12+ months) Reset of our economies and systems.
COVID-19 Action Agenda Leaders on the Front Line 11 FIGURE 1 Foremost COVID-19 concerns among low-income households
To better understand the impact of COVID-19, Alliance the effects of COVID-19 on their lives and to identify member 60 Decibels conducted over 15,000 phone their most urgent needs and concerns. Tracking how interviews in low- and middle-income countries the pandemic affects these households over time, 60 across Asia, Africa and Latin America. The goal was Decibels discovered jarring facts on how the lives of to gather information from low-income households on the poorest have been affected by COVID-19.
Source: 60 Decibels, Primary concern “Listening in the time of Q: What is the primary concern you have related to COVID-19 right now? Covid-19: Explore the insights”, 15 August 2020, https://app.60decibels.com/ 0 10 20 30 40 50 covid-19#explore My health or my family’s health 49%
Ability to work / earn an income 29%
The economy 8%
Acces to basic needs 8%
Other 4%
Childcare 1%
To understand national and community-level face higher levels of risk and vulnerability than vulnerabilities, the organization developed a male-headed households (40% vs 25% for Vulnerability Index, evaluating who is hardest hit households headed by men), confirming the by the pandemic. The Index takes into account worldwide perception that the crisis actually such factors as respondents’ food consumption deepened existing structural inequalities. and financial well-being, and their likelihood of Other stories show similar social fault lines; for living or slipping into poverty. Insights from the example, black business owners have been hit Index revealed that female-headed households harder than other owners.
Source: 60 Decibels, Vulnerability by country “Listening in the time of Covid-19: Explore the insights”, 15 August 2020 Sierra Leone 52% https://app.60decibels.com/ 29% 23% 24% 19% 5% covid-19#explore Rwanda 28% 21% 16% 17% 18% 49%
Uganda 17% 25% 28% 19% 11% 42%
India 22% 19% 27% 20% 12% 41%
Nigeria 18% 21% 24% 18% 18% 40%
Kenya 20% 17% 21% 18% 23% 37%
Zambia 10% 18% 19% 23% 31% 27%
Myanmar 6% 12% 24% 24% 38% 18%
Côte d’Ivoire 5% 14% 30% 49% 7%
Tanzania 3% 15% 30% 51% 5%
Extremely vulnerable Very vulnerable Vulnerable Slightly vulnerable Coping
COVID-19 Action Agenda Leaders on the Front Line 12 COVID-19 ACTION AGENDA SEPTEMBER 2020 CHAPTER 01 “Yes, we are now saving on every possible front and eating only as much as required. There is not a single rupee that is spent without thinking.”
60 Decibels respondent, India
FIGURE 2 The impact of COVID-19 on global extreme poverty
Note: Extreme poverty is measured as the number of people living on less than $1.90 per day. 740 Source: Gerszon Mahler, Daniel, et al., “Updated 720 estimates of the impact June downside projection of COVID-19 on global 700 poverty”, World Bank 680 Blogs, 8 June 2020, June baseline projection available at https://blogs. 660 worldbank.org/opendata/ updated-estimates- 640 April projection impact-covid-19-global- poverty#:~:text=Under 620 %20the%20baseline %20 600 scenario%20we,comes %20 with%20even%20more%20 580 uncertainty.
Millions of people in extreme poverty Pre-COVID Y 560 projection
540
520
500 2015 2016 2017 2018 2019 2020 2021
COVID-19 Action Agenda Leaders on the Front Line 13 COVID-19 ACTION AGENDA Below: Yunus Social Business, India, Akhil Pawar SEPTEMBER 2020 CHAPTER 02
2 Why social entrepreneurs are needed now more than ever
COVID-19 Action Agenda Leaders on the Front Line 14 COVID-19 ACTION AGENDA SEPTEMBER 2020 Social entrepreneurs have been working to solve beyond their regular mandates have emerged. CHAPTER 02 market failures and demonstrate more sustainable Many chose to maintain jobs through the models to build inclusive economies for years. pandemic despite their halting businesses, while These entrepreneurs: those in a position to do so provided last-mile support – for example by delivering essentials like 1. Bring vital products and services to those masks and sanitizers to those unable to afford on the fringes of society, while acting as first the bare minimum to keep themselves safe. Their responders during a crisis existing relationships with low-income customers or beneficiaries and the trust they had built on the 2. Sustain jobs and social security, at a time ground positioned them well as early responders when the effects of losing one’s income can be to the pandemic. particularly devastating These entrepreneurs’ decades of societal R&D – 3. Innovate to address the intractable social and and their tested shovel-ready solutions and models environmental challenges society faces of running inclusive, sustainable organizations that serve society – will be critical to the COVID-19 4. Champion the sustainable development agenda, response and recovery period. calling for an inclusive and green economy and a reset of markets The need for social entrepreneurs is clearer now than ever before. They are a crucial social 5. Empower and create agency among safety net for our systemic inequalities and communities so they can develop and advance market failures. The social entrepreneurs who their own trajectories and solutions. are “system change leaders” have an especially invaluable role to play in triggering a reset The Schwab Foundation 2020 report Two of today’s markets and societies. They have Decades of Impact demonstrates how its managed to enable whole groups of society to network of 400 leading social innovators and become agents of their own change and have entrepreneurs alone have improved the lives effectively managed to navigate the complex of more than 622 million people in over 190 arrangements of institutions of power. countries6 by protecting livelihoods, driving movements for social inclusion and environmental Social entrepreneurs are uniquely positioned sustainability, and providing improved access to to represent a new yardstick for leaders in the health, sanitation, education and energy. 21st century. Their knowledge, experience and existing on-the-ground infrastructure can When COVID-19 brought disarray to communities play a vital role in revitalizing the sustainable across the world, social entrepreneurs development agenda and building more everywhere instantly assumed first responder inclusive, shockproof and resilient markets and roles. From providing reliable information, services societies. and care to the most vulnerable, to developing community tracing initiatives or mental health Yet, many social entrepreneurs face significant and support through mobile phones, the work of the immediate operational and viability challenges and social entrepreneurs became even more critical need backing; significant capital and non-financial during the pandemic. support is vital to put social entrepreneurs in a position to effectively protect the most vulnerable Over the last few months, notable stories of in the crisis and help shape the transition to a new social entrepreneurs who have gone above and social and economic reality.
“COVID-19 has exposed both the vulnerabilities facing low- income communities and underlying power imbalances. Social enterprises represent diverse local leaders needed for inclusive change. We joined the Alliance to take action alongside others to sustain and champion these vital new voices.”
Jacqueline Novogratz, Founder and Chief Executive Officer, Acumen, USA
COVID-19 Action Agenda Leaders on the Front Line 15 Stories from the front line
FIGURE 3 Stories from the front line: Social entrepreneurs across the world responding to the COVID-19 crisis and its aftermath
01
04 05 06
02 03
Family Independence Initiative ABOUT Founded in 2001, Family Independence Initiative (FII) provides families with 01 | USA | Cash transfers direct cash transfers, a digital platform and peer groups to accelerate the exchange of financial and social capital in low-income communities across the USA. FII has TYPE Non-profit social enterprise collaborated with over 250 community-based organizations to help families escape FOCUS Response and Recover the cycle of poverty.
COVID RESPONSE Through the GiveTogetherNow campaign and the UpTogether platform, FII raised over $100 million and provided direct cash transfers to over 100,000 low-income families who were struggling to make ends meet and to care for their loved one.
ALLIANCE MEMBER INVOLVED Schwab Foundation for Social Entrepreneurship
Instituto Muda | Brazil | Job ABOUT Established in 2007, Instituto Muda provides recycling collection services in 02 creation residential areas, companies and schools around São Paulo. It allocates more than 300 tons of recyclable materials per month to cooperatives that employ people living TYPE For-profit social enterprise below the poverty line. FOCUS Response and Reset COVID RESPONSE Instituto Muda stepped in to provide the cooperatives not only with financial help to pay their workers to support their families, but also with a supply of masks, equipment and disinfectant gel.
ALLIANCE MEMBER INVOLVED Yunus Social Business
COVID-19 Action Agenda Leaders on the Front Line 16 Praekelt.org | Global and South ABOUT Praekelt, a mobile technology company, harnesses the power of 03 Africa | Health information communication between patients, health workers and the health system to ensure provision that patients are informed and empowered; health workers are supported and valued; and health system officials have the information they need to make informed TYPE Hybrid social enterprise and effective decisions to improve service delivery and quality. FOCUS Response and Recover COVID RESPONSE With countries and organizations experiencing a massive need for direct communication of reliable information, Praekelt partnered with the World Health Organization and WhatsApp to develop the WHO’s global public health WhatsApp information tool for citizens. In addition, 11 national health systems, primarily in Africa and South-East Asia, launched local versions of this service. These solutions provide citizens and health workers with reliable, up-to-date information and relevant services related to COVID-19 and are reaching over 20 million people in 20 languages worldwide.
ALLIANCE MEMBER INVOLVED Johnson & Johnson
Jan Sahas | India | Immediate ABOUT Jan Sahas is a 20-year-old community organization working with excluded 04 relief and post-crisis recovery of social groups on safe migration and workers’ protection in 14,000 villages and urban migrant workers areas in 57 districts in India.
TYPE: Non-profit social enterprise COVID RESPONSE In response to COVID-19, Jan Sahas provided food to over FOCUS: Response and Recover 420,000 migrants, 11,000 personal protective equipment kits, and emergency transportation to 17,000 migrants and their families. It is now launching a grassroots-led collaboration with approximately 80 partners to ensure the safe, responsible recovery of migrant families and their livelihoods post-COVID.
ALLIANCE MEMBER INVOLVED Ashoka
Eneza Education | Kenya | ABOUT Eneza Education provides SMS-based learning to students who do not 05 Continuous learning have access to a classroom or need additional support.
TYPE For-profit social enterprise COVID RESPONSE In the wake of COVID-19-related school closures, Eneza FOCUS: Response and Reset Education leveraged strategic partnerships to open its platform without charge to learners in Kenya and Côte d’Ivoire, reaching 2.2 million learners who do not have steady access to the internet with its USSD/SMS-based learning resources. It has now launched its platform in Rwanda to serve users in that country.
ALLIANCE MEMBER INVOLVED Sorenson Impact Foundation
Barefoot College | Zanzibar | ABOUT Barefoot College Zanzibar is a joint venture set up in 2015 by Barefoot 06 Emergency community support College and the Government of Zanzibar. Barefoot College Zanzibar has been training women solar engineers, women beekeepers and women seamstresses for TYPE Non-profit social enterprise five years. FOCUS Response and Reset COVID RESPONSE At the start of COVID-19, the Government of Zanzibar turned to Barefoot College to provide personal protective equipment to more than 70 communities on the island. Its community outreach team educated communities with the result that the incidence of community transmission was cut by more than 80%.
ALLIANCE MEMBER INVOLVED Catalyst 2030
COVID-19 Action Agenda Leaders on the Front Line 17 COVID-19 ACTION AGENDA Below: Tam Wai, Unsplash SEPTEMBER 2020 CHAPTER 03
3 What social entrepreneurs need to play their part
COVID-19 Action Agenda Leaders on the Front Line 18 COVID-19 ACTION AGENDA SEPTEMBER 2020 The lockdowns, the mandatory social distancing markets, have been deeply affected given CHAPTER 03 norms and the uncertainty with what lies their disproportionate focus on low-income ahead have been devastating to SGBs and households on whom the effects of the crisis are entrepreneurs. The OECD has indicated that even more immediate. Many face significant and measures to contain the virus’ spread have pressing operational and viability challenges, hit small and medium-sized enterprises and severely limiting their ability to act as first entrepreneurs particularly hard. Not surprisingly, responders to the crisis, let alone as pioneers of social entrepreneurs, most notably in emerging a new economic model (see Figure 4).
FIGURE 4 COVID: Social entrepreneurs and SGBs in crisis
Alliance member Aspen Network of Development iAspen Network Entrepreneurs (ANDE) has been surveying its of Development constituents since the start of the crisis in an attempt Entrepreneurs “The Small to take the pulse of the on-the-ground COVID and Growing Business reality among small and growing businesses (SGBs). Sector and the COVID-19 i Crisis: Emerging Evidence Its data presents a worrying reality. In April 2020, on Key Risks and Needs”, almost 42% of SGBs indicated being at risk of 18 May 2020, https:// failure. By June, ANDE concluded that 12% of www.andeglobal.org/ SGBs had already failed while an additional 37% blogpost/737893/348170/ were at high risk of failure. At the same time, many The-Small-and-Growing- SGBs had forced layoffs or had temporarily shut Business-Sector-and- down operations. the-COVID-19-Crisis- Emerging-Evidence-on- Key-Risks-and-Needs. Another Alliance member, Intellecap, corroborated these findings in its June 2020 researchii of the 106 iiIntellecap, “Impact Indian and African entrepreneurs it surveyed, 32% of COVID-19 on the Entrepreneurial Ecosystem”, had already closed their businesses while 27% Source: World June 2020, unpublished. Economic Forum had laid off employees.
The pandemic hampers the operations of social Figure 5 summarizes social entrepreneurs’ real entrepreneurs due to such factors as movement and anticipated financial and non-financial support restrictions, difficulty in shifting to virtual models or a requirements across three “horizons of need.” lack of strategic or transition support. Alliance members derived these insights from a qualitative assessment of the needs of each of their Their challenges are financial and non-financial in nature networks and portfolios. and are different at each of the stages of the crisis. Many entrepreneurs have difficulties or are challenged to: The immediate and sustained need for capital
1. Ensure operational and impact continuity in Last year, well before the crisis hit, the United direct response to the crisis Nations had estimated that the annual gap in financing for the SDGs was $2.5 trillion.7 It is hardly 2. Strengthen their balance sheet and operations a surprise that this financing gap is expected to during their recovery widen further in the aftermath of COVID-19 and as a global recession looms. 3. Allow their return to growth in a new market context and reality to build their organizations back up.
COVID-19 Action Agenda Leaders on the Front Line 19 FIGURE 5 Social entrepreneur and SGB requirements across the “horizons of need”
RESPOND RECOVER REBUILD & RESET (0-12 months) (6-18 months) (12+ months)
Focus Focus Focus Ensure business and impact continuity Strengthen operations and balance sheet Return to growth in a new market context and reality
Priorities Priorities Priorities –– Minimize disruption –– Pivot as needed –– Adjust and adapt business model for –– Secure immediate liquidity –– Re-establish operations the new normal –– Secure payroll –– Improve financial ratios –– Identify sources of growth –– Protect constituents –– Access relief as feasible –– Reassess crisis outcomes
Nature of Support Nature of Support Nature of Support –– Emergency Grants –– Patient equity –– Patient equity –– Interest-free loans/Repayment holidays –– Soft loans –– Working Capital and Capex Loans –– Financial planning support –– Strategic or pivoting support –– Market intelligence support –– Mental health support –– Operations support –– Capital raising support
Source: World Economic Forum
The exact impact of COVID on social entrepreneurs’ financial needs is unknown. Yet, it SDG $2.5 Trillion SDG Gap is clear that COVID-19 has created significant and Financing Annual gap in financing exacerbated financing challenges for the sector, Gap the SGDs - estimated including the following: in September 2019, well before the Source: 1. Alliance members who directly fund or support United Nations pandemic started social entrepreneurs indicate a dire need for grants as well as working and patient capital.
2. In a survey of SGB capital providers in Sub- Saharan Africa, 97% of the 90 parties surveyed said they require incremental capital to support Gaps in $930 Billion Shortfall their portfolios due to COVID. Considering that funding In SGB Funding SGBs already faced an estimated financing gap Small and Includes market-based of $930 billion per year before the coronavirus Growing social entrepreneurs pandemic, the challenges are significant.8 Businesses
3. Nearly four in 10 US non-profits could close due to COVID-19-related revenue shortages during the next three years. Many US-based NGOs have come together to urge Congress to release $60 billion in emergency funding, without which Increased 97%* of SGB Capital these NGOs will not survive the crisis.9, 10 Capital Providers with Needs Incremental Funding 4. According to the Global Impact Investing Needs Due to Network, 41% of impact investors indicate that Source: The COVID-19 having decreased capital to deploy is a challenge Collaborative for *Sub-Saharan Africa Only to making COVID-related investments11 (see Frontier Finance Figure 6 for more information on the capital gap).
5. While significant relief funding and government stimulus packages have been The conclusion based on these anecdotal figures announced in response to the crisis, only a is that the COVID capital gap can only be filled slim portion of the announced capital has with a shift in risk and behaviour on the part of found its way to entrepreneurs. asset owners across sectors.
COVID-19 Action Agenda Leaders on the Front Line 20 FIGURE 6 The social enterprise COVID capital gap: Alliance members’ experience
In a small survey (a sample size of 14) among respond to their immediate operational challenges Alliance members between June and August 2020, and the needs of their communities. respondents were asked to estimate the capital needs of their portfolio over the next 12 months. The findings of this survey are supported by anecdotal At that point, cumulatively, these members experiences of Alliance members that were already had already deployed $85 million in COVID-19 providing or facilitating the provision of capital to response capital, flagging an additional $140 social entrepreneurs. For example, visitors to Duke million needed to help their portfolio organizations University’s COVIDCAP.com (see Figure 7) indicated pull through the year ahead. struggling to identify funding that would fit their profile. Open Road Alliance meanwhile received over 1,300 Regarding the type of capital needed, 74.1% applications from across the world for its emergency Source: World Economic involved grants or patient equity to enable relief facility, amounting to over $188 million in support Forum approximately 1,200 social entrepreneurs to requests, 10 times the usual volume it receives.
COVID-19 Action Agenda Leaders on the Front Line 21 FIGURE 7 Matching supply and demand during a crisis: COVIDCAP.com
“It is clear that the cash need is highest among those in developing markets, and we learned from our follow-up survey that many organizations are still unable to locate the resources they need.”
Cathy Clark, Faculty Director, Center for the Advancement of Social Entrepreneurship, Duke University, USA; Initiator COVIDCAP.com
On 26 March 2020, the Center for the Advancement While an invaluable resource for the market, the of Social Entrepreneurship (CASE) at Duke team at CASE faced a number of challenges: University’s Fuqua School of Business launched COVIDCAP.com. COVIDCAP.com is a searchable 1. Regional skews in available funding: Despite website that helps social entrepreneurs (for-profit, extensive searches for COVID funding outside of hybrid and non-profit) struggling from the economic the United States, the majority of surfaced funds impacts of COVID-19 to locate cash relief and non- (66%) were purposed for US domestic use only. financial resources in their community. With support from the Alliance and partners such as ANDE, 2. Infrastructural limitations: Effectively USAID, the Mission Investors Exchange, Living matching supply and demand by optimizing Cities and Big Society Capital, the platform gathered search functions and ensuring the right filters over 1,700 unique resources that collectively could be applied required significant time represented more than $1.1 trillion in relief, spanning investment and manual work. six continents and 62 countries. Since its launch, the website has received over 30,000 visitors. 3. Reach and uptake: Ensuring that social entrepreneurs worldwide would easily find COVIDCAP in their search for capital and non- financial support was not easily achieved and required the database’s active promotion by CASE’s vast network of global social enterprise networks and communities.
Listings With more than Spanning 6 representing 1,700 unique continents & more than $1.1 resources 62+ countries trillion in relief
1,550+ financial 130+ non-financial iImpact Finance Network, “Impact Platforms”, 2018, https://impactfinance. network/wp-content/ The lack of a strong online infrastructure able to absence of scaled marketplaces has, according uploads/2018/10/Impact- Platforms-Report_Final.pdf. efficiently match supply and demand between to some, even proven to be the Achilles’ heel of social entrepreneurs, investors, funders and the ability of social entrepreneurs to truly play non-financial-support providers has been a long- their part and provide must-have support on Source: World standing challenge in the sector, limiting its scale the ground and effectively channel resources to Economic Forum and impact.i As the COVID-19 crisis took off, the those in need.
COVID-19 Action Agenda Leaders on the Front Line 22 COVID-19 ACTION AGENDA SEPTEMBER 2020 The vital role of non-financial support CHAPTER 03
Navigating through the crisis requires expertise in should be considered, although many have proved a myriad of domains. From managing their own challenging: mental health and well-being and that of their team members, to strategizing to change course to cope 1. It must be easy for organizations to quickly in a new market reality, the skills entrepreneurs validate and assess the likely support needs and must have and the tasks they need to perform span priorities (see Figure 8). a wide spectrum. 2. High-quality support needs to be available in the Given such needs and pressures, the role of market, be it through intermediaries, investors, non-financial support in social entrepreneurs’ corporations or governments. survival and success cannot be underestimated. Even if entrepreneurs already possess these skills, 3. Non-financial support needs to run in lockstep completing a job when time is of the essence is with entrepreneurs’ access to fitting capital another matter. throughout the crisis.
Given the diversity and scale of the varying types 4. Efficient ways to connect supply and demand of assistance needed, certain key success factors are crucial to make sure that support reaches related to the provision of non-financial support entrepreneurs in time (see Figure 9).
FIGURE 8 Social entrepreneurs/SGB immediate non-financial needs by segment
What type of non-financial support needs do Beyond these, nuances start to appear as some social entrepreneurs and SGBs have? As Alliance entrepreneurs are able to pivot their organization members discovered when they discussed this to address the changing times (“Pivot(er)”), while support, the exact needs depend on the type of others see their pre-COVID business models benefit entrepreneur that one deals with. from sudden tailwinds (“Thriver”). These social entrepreneurs urgently need strategic guidance to A few needs are common to all entrepreneurs, adapt their models and establish new partnerships including legal support or mental wellness coaching. to scale or launch (new) products and services.
PIVOT(ER) THRIVER
1. Tech support 1. Cash/Financial management 2. New partnerships 2. Scaling logistics or manufacturing 3. Customer insights/data 3. Team building and rapid recruitment 4. Product development support
SURVIVOR STRUGGLER
1. Cost management 1. Mental support 2. Refinancing 2. Scenario planning 3. Legal support 3. Strategic support 4. Renegotiating contracts 4. Peer-to-peer sparring
Source: COVID Response Alliance analysis, 2020
Others have been less fortunate and their renegotiate their existing arrangements or moral organizations do not lend themselves well to support to get through the immediate crisis. the shift online; they are forced to hibernate Building on the work of such members as Agora (“Survivor”) or have seen such a rapid decline Partnerships, ANDE, Impact Hub, Intellecap, in demand that they have limited chances Lex Mundi, Salesforce and SAP, the Alliance of surviving through the crisis (“Struggler”). has distilled the top non-financial needs of each These entrepreneurs crucially need support to “archetype” entrepreneur.
COVID-19 Action Agenda Leaders on the Front Line 23 COVID-19 ACTION AGENDA SEPTEMBER 2020 Taking a systems view: The need to fuel and enhance an entire value chain CHAPTER 03
COVID-19 has exposed deeply systemic Figure 9 provides an overview of the roles bottlenecks that cut across the value chain and various actors in the social economy play as well stand in the way of the sector’s ability to “fuel” as the stress points and challenges they face, on-the-ground organizations – market based underpinning the painful reality that many social and otherwise (see also Figure 7). entrepreneurs are battling to stay in business and are hindered to play their part in fighting the impacts of the pandemic on the world.
FIGURE 9 Challenges of social entrepreneurs’ value chain actors
(IMPACT) INVESTORS providing access to commercial and patient capital across the entrepreneurial life cycle
SUPPORTING CORPORATIONS INTERMEDIARIES providing pathways providing critical non- for rapid business and financial support and impact growth through acting as a voice for social their supply chains and entrepreneurs scaled operations SOCIAL ENTREPRENEURS Acting as first responders to the crisis by providing jobs and access to products and services, and offering relief to vulnerable communities on the ground
GOVERNMENT INSTITUTIONS FUNDERS AND providing the enabling PHILANTHROPISTS circumstances and providing resources to resources for social strengthen enabling systems entrepreneurs on their and (catalytic) direct paths to success enterprise support
01. CHALLENGE 02. CHALLENGE 03. CHALLENGE
Struggle for survival and experience Struggle to relax the terms on their capital Struggle to determine how to best support significant operational hurdles themselves invested or shift their mandates, and/or the social entrepreneurs they work with convince their backers to do so and in their supply chains
04. CHALLENGE 05. CHALLENGE
Struggle to increase their capital Lack the resources and infrastructure commitments beyond their own portfolios to provide critical relief and connect Source: World at the speed needed effectively with social entrepreneurs Economic Forum
COVID-19 Action Agenda Leaders on the Front Line 24 COVID-19 ACTION AGENDA SEPTEMBER 2020 CHAPTER 04
4 COVID-19 Social Enterprise Action Agenda
COVID-19 Action Agenda Leaders on the Front Line 25 COVID-19 ACTION AGENDA SEPTEMBER 2020 “Poverty is an ongoing disaster in the life of a vast majority in the CHAPTER 04 world. Why do we wait for a disaster to stand with them?”
Anshu Gupta, Founder and Director, Goonj, India; Catalyst 2030 Social Entrepreneur
The COVID Response Alliance for Social Entrepreneurs 4. Look beyond healthcare, given that COVID-19 was founded in April 2020 by 60 leading organizations touches all areas of people’s lives to help mobilize support and raise awareness of the vital role social entrepreneurs play during the crisis and The most vulnerable can only truly be supported if the beyond. broader impacts of this crisis are considered and the human cost of inaction is kept in mind. Labour markets Through this COVID-19 Action Agenda, the members are hard hit and entire groups or areas are cut off from of the Alliance call on all their colleagues to stand by essential goods and services. social entrepreneurs as first responders to the needs of vulnerable populations during the COVID crisis and 5. Support the shovel-ready solutions that as pioneers of a green, inclusive society and economic grassroots organizations are already able to system. provide
Recognizing the need to listen, collaborate across Social entrepreneurs have already built local, sectors and build on what exists, Alliance members grassroots-driven solutions that can tackle the identified five principles that should lie at the heart of challenges this crisis presents. Individually or any COVID-19 response effort: collectively, these solutions can be combined to develop a holistic response that goes beyond 1. Make the voices of social entrepreneurs and COVID-19. their communities heard Which actions an organization can and should take Vulnerable and marginalized populations around the will depend on what role it plays and where it resides world trust social entrepreneurs to represent them. in the system. The COVID-19 Action Agenda therefore Their voices must be publicly and consistently elevated extends a unique invitation to lead and collaborate to and invited to the decision-making table. five actors. Importantly, each invitation is paired with five actor-specific action areas and with snapshots of 2. Prepare to respond, recover and reset – taking live initiatives by Alliance members that relate to each the opportunity to shape a new tomorrow action area.
It is important to recognize and act on urgent and The COVID Response Alliance for Social Entrepreneurs unmet human needs and make necessary changes looks forward to collaborating with its colleagues and to allocate resources towards creating systems and peers from across the world and to implementing infrastructure that make social entrepreneurs and the meaningful action together. constituents they serve more shockproof to future crises.
3. Collaborate across sectors in recognition of the complexity and scale of the crisis
Every sector brings unique assets and capabilities. Corporations, investors, civil society and governments should team up, accept and absorb risk and do what is in their power to support social entrepreneurs and their constituents through the crisis.
COVID-19 Action Agenda Leaders on the Front Line 26 COVID-19 ACTION AGENDA SEPTEMBER 2020 COVID-19 Social Enterprise Action Agenda CHAPTER 04
The members of the COVID Response Alliance vulnerable populations during the COVID crisis for Social Entrepreneurs stand by social and as pioneers of a green, inclusive society and entrepreneurs as first responders to the needs of economic system.
5 core COVID-response principles
1. 2. 3. 4. 5.
Make the voices of social Prepare to respond, Collaborate across sectors Look beyond healthcare, Support the shovel-ready entrepreneurs and their recover and reset – taking in recognition of the given that COVID-19 solutions that grassroots communities heard the opportunity to shape a complexity and scale of touches all areas of organizations are already new tomorrow the crisis people’s lives able to provide.
FIGURE 10 Action agenda for social entrepreneurs’ value chain actors
(IMPACT) INVESTORS to adapt their investment priorities and processes, and to provide flexible capital as well as must-have technical assistance
SUPPORTING CORPORATIONS INTERMEDIARIES to stand with social to provide fitting support to entrepreneurs within their social entrepreneurs and supply chains and the the communities they serve, broader ecosystem, fulfil and to make known the their agreements and extend needs and priorities of social their support to build a more entrepreneurs on inclusive and resilient economy the ground We Call On
GOVERNMENT INSTITUTIONS FUNDERS AND to recognize social PHILANTHROPISTS entrepreneurs as a driving to expand and expedite their force in safeguarding jobs and support to social entrepreneurs in pioneering a greener and and intermediaries, taking equitable society, as well as to risks reflective of today’s back them accordingly unprecedented times
Source: World Economic Forum
COVID-19 Action Agenda Leaders on the Front Line 27 4.1 Supporting intermediaries 01
We call on supporting intermediaries to provide fitting support to social entrepreneurs and the communities they serve, and to make known the needs and priorities of social entrepreneurs on the ground.
“When we strengthen intermediaries, we strengthen the world’s ability to surface the innovations to help us achieve the Global Goals. Now, more than ever, we need creative, strategic partnerships across industry actors to help these vital, on-the- ground organizations succeed in their mission.”
Ben Powell, Chief Executive Officer, Agora Partnerships, USA
COVID challenges and opportunities
Support organizations and networks play In response to the crisis, many capacity an important role in ensuring COVID-related development organizations have responded by strategic and operational assistance is available delivering new programming. Yet, not surprisingly, to social entrepreneurs. Yet, they themselves COVID-19 is having significant adverse effects on – especially those working with vulnerable capacity development providers also, especially populations – are affected by the pandemic. those working in emerging markets or supporting social entrepreneurs that serve marginalized As leading players in the social entrepreneurs’ households or severely affected areas. value chain, supporting intermediaries are organizations and networks that provide Alliance members encourage capacity non-financial assistance to mission-driven development providers to stay on top of and entrepreneurs and SGBs, and often serve as their pivot their support models to the changing needs voice at the market or ecosystem level. of their constituents. Funders and supporters in the meantime should leverage and assist intermediaries as they confront the crisis.
FIGURE 11 Supporting intermediaries and networks in times of COVID-19
In a June 2020 SGB sector and COVID-19 crisis i Aspen Network of Development Entrepreneurs, addendum published by ANDE, of the capacity “The Small and Growing Business Sector development organizations surveyed (a sample and the COVID-19 Crisis: Emerging Evidence size of 40), 21% cited “existential” or “high” risk on Key Risks and Needs – Updated Data to their operations, and 14% had laid off staff.i. Addendum”, June 2020, https://cdn.ymaws. com/www.andeglobal.org/resource/resmgr/ Similarly, in its June survey (with a sample size publications/ande_covid_issue_brief_adden.pdf. of 50) focused on Sub-Saharan Africa, South and South-East Asia, Intellecap found that 40% ii Intellecap, “Impact of COVID-19 on the of support organizations had delayed support Entrepreneurial Ecosystem”, June 2020, activities, while as many as 20% had temporarily unpublished. suspended their programmes.ii.
COVID-19 Action Agenda Leaders on the Front Line 28 COVID-19 ACTION AGENDA SEPTEMBER 2020 Recommended actions CHAPTER 04 01 Alliance members invite their colleagues to join 01. SUPPORTING them by taking action in five ways: INTERMEDIARIES
1. Be customer and community driven Mercy Corps - Mercy Corps teams are the first to reach Intermediaries should listen to their constituents and populations with critical health and safety information in determine what their immediate and anticipated many areas not yet informed through radio, television or needs are. They are encouraged to seek out on- the internet. Supporting intermediaries have a unique role the-ground social entrepreneur leaders so that to play in being the voice of marginalized communities. recovery efforts are shaped and driven by local Mercy Corps is systematically sourcing these insights to needs. In doing so, they should keep it simple, adapt its response. RESPOND recognizing that social entrepreneurs are already overloaded by data requests.
2. Lean in and adjust B-Lab Best Practices Resource - B-Interdependent, a B Intermediaries should adjust their course as needed Lab Global initiative, launched a resource portal to support and prioritize providing (access to) fitting, high- impact businesses worldwide by offering relevant and quality support to social entrepreneurs that enable essential resources, including stories of hope, best practices them to recover and rebuild. This incorporates to adjust to COVID-19 norms and localized resource hubs. support to adapt to business and commercial models that meet the new reality, including as it relates to the digitization of their organizations.
3. Share insights and best practices Acumen, Root Capital and Yunus Social Business - In the Intermediaries are encouraged to exchange market early stages of the health crisis, these organizations exchanged insights and share best practices to improve the best practices, ranging from decision-making frameworks sector’s collective response to the crisis. This includes and needs assessments, to impact metrics, to strengthen RECOVER collaborative data collection, impact assessments and their individual responses to the crisis and its aftermath, and to the promotion of solutions that work. better prioritize the allocation of their relief funding.
4. Establish smart partnerships Wellbeing for Changemakers Series - In partnership Smart collaborative constructs with local, regional with the Wellbeing Project, the Impact Hub Network, Skoll and global governments, funders or corporations are Foundation and Ashoka initiated a series of live, virtual a vital ingredient for supporting social entrepreneurs gatherings to extend much needed yet often overlooked at scale and channelling essential resources to the well-being support to their social entrepreneurs. entrepreneurs and the populations they serve.
REBUILD/RESET 5. Take an ecosystem approach Emprendedores Frente Al COVID-19 (Entrepreneurs Intermediaries are urged to create action Facing COVID-19) - Agora Partnerships and over 50 coalitions to expand and streamline COVID-19 leading Latin American incubators, accelerators, funds support efforts. Such coalitions, which are often and support agents created a regional COVID-19 alliance geographically or thematically defined, are good with the goal of helping impact entrepreneurs in the region ways to accelerate the roll-out of efforts, dialogues weather the crisis. with investors and the mobilization and deployment of funds to do so.
COVID-19 Action Agenda Leaders on the Front Line 29 4.2 (Impact) investors 02
We call on (impact) investors to adapt their investment priorities and processes, and to provide flexible capital as well as must-have technical assistance.
“The COVID crisis calls for business as unusual. We call on our colleagues to stand with the poor and our entrepreneurs on the front lines of the crisis.”
Vineet Rai, Founder and Chairman, Aavishkaar Group, India
COVID challenges and opportunities
Despite their vital role in times of crisis, (impact) to hold back allocations they themselves lack investors struggle to increase their investment additional capital to deploy.12 activity and to provide much needed non- financial support to social entrepreneurs within Even those select investors who are able to deploy their portfolios and the periphery of their capital in this period require an abundance of investments. innovation and efficiency. They have to navigate against the old and new challenges the pandemic has created or magnified. According to the GIIN, As the direct capital providers to social the key challenges that impact investors face when entrepreneurs, impact investors play a vital role trying to deploy capital in the current environment in facilitating the growth of the social enterprise are related to due diligence (52%), limited movement. Their continued function as conduits of resources‚ including capital availability (41%) and capital to social entrepreneur leaders is even more staff time (27%), and deal sourcing (29%).13 indispensable in times of crisis like today. Nevertheless, a subset of investors has COVID-19’s uneven effects have emphasized continued to navigate the rough waters, taking long-standing social and environmental issues. the opportunity to adapt or, in some cases, even However, as the crisis is still unfolding, ongoing reinvent the way they invest. uncertainty about the future continues. As a result, despite the need for greater capital to be mobilized, Alliance members call on investors to strengthen in the GIIN’s 2020 Annual Impact Investor Survey, and adapt their investment priorities and only 16% of impact investors indicated that they processes to support social entrepreneurs and the are likely to increase their investment activity in communities they serve with flexible capital and response to the pandemic – in many cases having must-have technical assistance.
FIGURE 12 Changes to investment activity
Source: Global Impact Investing Network, The Impact Investing Market in 0 10 20 30 40 50 60 the COVID-19 Context: An Overview, June 2020 Stay the same 57%
Decrease 20%
Increase 16%
Uncertain 7%
COVID-19 Action Agenda Leaders on the Front Line 30 COVID-19 ACTION AGENDA SEPTEMBER 2020 Recommended actions CHAPTER 04 02 Alliance members invite their colleagues to join 02. (IMPACT) INVESTORS them by taking action in five ways:
1. Revisit processes and terms NESsT Fund - In reaction to the pandemic, the NESsT Impact investors are encouraged to review Fund created a short-term working capital instrument and streamline internal processes so they are that acts like revolving credit so companies, particularly able to accept greater risk where feasible and in the food and agriculture sectors, can supply products release funding in an expedited manner for social more quickly. This ensures suppliers earn a sustainable entrepreneurs on the front lines of the pandemic. income and companies streamline operations, delivering This includes adapting impact measurement on contracts. RESPOND practices and relaxing terms of repayment, impact reporting, etc.
2. Be a conduit to grant capital Yunus Social Business and Greenwood Place - Yunus Investors are uniquely positioned to channel Social Business, with philanthropy accelerator Greenwood resources to their portfolio. Given their pre-existing Place, responded quickly to the pandemic and supported relationships with their portfolio organizations, the payroll for employees of its portfolio companies, investors are uniquely positioned to act as a conduit including São Paulo-based Instituto Muda, which collects to channel philanthropic support to on-the-ground recycled waste and works with cooperatives that employ social entrepreneurs so they can sustain their waste pickers living below the poverty line. operations and direct immediate relief resources to employees and constituents.
3. Expand technical assistance Root Capital - Root Capital is increasing its mobile and Beyond capital, social entrepreneurs also require digital capabilities to help businesses implement new RECOVER support in adapting their operations and business processes, policies and best practices. Focus areas models to the post-COVID era. The provision of include crisis management and emergency operations; non-financial support is critical to safeguarding financial management and analysis; and digital data social entrepreneurs’ sustained success. collection and analysis.
4. Collaborate and co-invest COVID-19 Coalition - The Sorenson Impact Foundation, Impact investors should share pipelines and due in partnership with Village Capital, launched the COVID-19 diligence, pool resources, explore blended finance Coalition and leveraged the Abaca platform to build a tools and co-invest to diversify risk. This will pipeline of entrepreneurs responding to COVID-19 and accelerate the deployment of capital and ensure investors actively looking to support big, urgent ideas. that high-impact opportunities do not fall between the cracks in this crucial period.
REBUILD/RESET 5. Plan for the long term R3 Coalition - The Response, Recovery and Resilience The socio-economic disruption caused by the Investment Coalition (R3 Coalition) was launched “to pandemic will last longer in emerging markets. streamline impact investing efforts that will address The sustained success of social entrepreneurs the large-scale social and economic consequences requires investors to plan for longer-term financing of COVID-19”. This project is led by important impact and support needs related to the recovery and investing networks and is managed by the GIIN. rebuilding of their portfolio.
COVID-19 Action Agenda Leaders on the Front Line 31 4.3 Corporations 03
We call on corporations to stand with social entrepreneurs within their supply chains and the broader ecosystem, fulfil their agreements and extend their support to build a more inclusive and resilient economy.
“The COVID-19 crisis only strengthens our resolve at Johnson & Johnson to support social entrepreneurs leading the changes so urgently needed to put good health in reach of everyone everywhere. We stand with our partners around the world to act swiftly now more than ever.”
Michael Sneed, Executive Vice-President, Global Corporate Affairs, and Chief Communication Officer, Johnson & Johnson, USA
COVID challenges and opportunities
Corporations have partnered with social COVID-19 has certainly challenged corporations entrepreneurs for many years and this pandemic to respond to massive issues, such as global and its challenges present an opportunity to supply chain disruptions, radical shifts to remote build on those partnerships and take decisive work or basic safety concerns of staff. In short, the steps towards a more purpose-driven capitalism COVID-19 crisis has created corporate leaders that and a greener and equitable future. have positively reacted to the pandemic and who hold the key to the future of corporate responsibility. Large corporations are an integral part of the social entrepreneurship ecosystem, acting as customers For leaders who have already committed to and market-makers for social entrepreneurs across purpose-driven stakeholder capitalism, this is the the world. For many social entrepreneurs, impact time to strengthen efforts as shareholders and the at scale is only achievable through integration into larger public have become uniquely aware of the corporate value chains. In addition to doing business role of companies in addressing this crisis. For with social entrepreneurs, a number of corporate companies that are still uncommitted, the pandemic leaders have dedicated organizational resources to has viscerally highlighted the importance to stand the sector for years in the form of pro-bono/low-bono with their stakeholders and constituents to ensure consulting and access to services or technology. long-term success and value creation.
COVID-19 Action Agenda Leaders on the Front Line 32 COVID-19 ACTION AGENDA SEPTEMBER 2020 Recommended actions CHAPTER 04 03 Alliance members invite their colleagues to join 03. CORPORATIONS them by taking action in five ways:
1. Honour existing relationships Danone - Danone has allocated €300 million in financial Corporations are encouraged to stand by existing support to 15,000 small businesses in its global ecosystem supplier commitments and extend credit lines to (farmers, suppliers, service providers) and entrepreneurs in social entrepreneur suppliers/partners. In the near its Manifesto Ventures portfolio, as well as to the Danone term, assistance can be provided by advancing Ecosystem Fund projects. payments, being flexible on contract terms or moving credit risk to the corporate level by other RESPOND feasible means.
2. Forge new partnerships Ikea Social Entrepreneurship - IKEA Social Corporations should stand by their social Entrepreneurship is supporting its partnerships across entrepreneur partners, using a mix of different the social entrepreneurship ecosystem, both by adapting types of financial and non-financial support to both current programmes with intermediaries and adding to social entrepreneurs and their constituents. Alliance emergency relief funds directed to social entrepreneurs members call on them to maintain and adapt as well as directly to artisans, for example through Yunus engagement programmes like accelerators and Social Business and Acumen. business partnerships to meet the need(s) of the day.
3. Facilitate capital connections Moving Worlds and SAP - In collaboration with SAP, Corporations should stand by their social Moving Worlds implemented its Sustainable Growth of entrepreneurs so they can re-emerge and rebuild Revenues for International Development Program (S-GRID), RECOVER after the pandemic. They can do so by providing which helps social enterprises build revenue partnerships opportunities for revenue partnerships and forging with the corporate sector to become more integrated into connections between social entrepreneurs and their global value chains. financial partners to help with access to financing.
4. Invest in capacity building Lex Mundi and TrustLaw - Both Lex Mundi Pro Bono Corporations are urged to support social Foundation and TrustLaw (a unit of the Thomson Reuters entrepreneurs through individual or multi-company Foundation) have used their legal expertise to create pro-bono/low-bono programmes that provide them COVID resources, such as government relief screenings, with diverse expertise and know-how, such as webinars and pro-bono support for micro, small and access to technology and to resources and talent medium enterprises and social entrepreneurs. (corporate volunteering).
REBUILD/RESET 5. Deepen and widen your footprint Johnson & Johnson - The J&J Center for Health Worker Corporations should take advantage of this Innovation invests in scalable social enterprises supporting step-change moment to commit to sustainable nurses and community health workers, such as Kenyan sourcing practices, building local “shock resilient” emergency response platform Flare, which is boosting the ecosystems with social entrepreneurs and their country’s emergency operation centre after its critical role in communities at the centre. an efficient COVID response.
COVID-19 Action Agenda Leaders on the Front Line 33 Funders and philanthropists 4.4 04
We call on funders and philanthropists to expand and expedite their support to social entrepreneurs and intermediaries, taking risks reflective of today’s unprecedented times.
“We are now in a defining moment as a global community that requires a rapid shoring up of our collective strength to provide immediate support to those hardest hit by the pandemic, while reimagining a prosperous and sustainable world for all. We call on our fellow funders to take the bold actions and risks that philanthropy is uniquely placed to deliver.”
Don Gips, Chief Executive Officer, Skoll Foundation, USA
COVID challenges and opportunities
Funders, unique in their ability to provide extraordinary examples of funders standing by immediate grant or patient capital, struggle to their grantees and investees. Responses have increase and shift their capital commitments, ranged from relaxing repayment terms, to providing within and beyond their own portfolios. Swift, emergency relief for affected communities. Those unconventional action and risk-taking are who expanded their capital allocations and purview needed to save the day. usually did so only for their own portfolio, while those who expanded their purview were typically Philanthropic funders – large and small – have inundated with support requests. played a pivotal role in the incubation and growth of social entrepreneurship. Their capital is catalytic in Similar to investors, funders note that conducting that it stimulates innovation, crowds in other, more quick and remote due diligence is proving to be risk-averse, investment capital, and advances the a critical difficulty to the disbursement of capital infrastructure that underpins the sector. in today’s heightened risk scenario. Yet, with the immediate survival of social entrepreneurs on the With the rise of COVID-19, funding organizations line, Alliance members call on funders to think have seen a significant surge in support requests. outside the box and play the immediate and long- In response, the sector has exhibited many term catalytic response role only they can play.
“COVID-19 has created unprecedented challenges that require foundations to consider ideas – even radical ones that would never have been considered in the past.”
Darren Walker, President, Ford Foundation, USA
COVID-19 Action Agenda Leaders on the Front Line 34 COVID-19 ACTION AGENDA SEPTEMBER 2020 Recommended actions CHAPTER 04 04 Alliance members invite their colleagues to join 04. FUNDERS AND them by taking action in five ways: PHILANTHROPISTS
1. Expand support Skoll Foundation - In April 2020, a gift by Skoll Foundation As a first priority, funders and philanthropists Founder and Chairman Jeff Skoll enabled the Foundation should provide immediate, flexible funding to to quadruple its annual grant-making to $200 million. As of social entrepreneurs and intermediaries to ensure 12 August 2020, the Foundation has disbursed $70 million their continued, stable existence, and to help in grants to address the direct and second-order public them provide direct COVID-19 support to their health, economic and social effects of the pandemic. The constituents. Where feasible, they are recommended Foundation has actively reduced grant-related burdens, to look beyond their current portfolio. increased transparency in communications and loosened or eliminated current grant restrictions and terms. It continues RESPOND to work to connect change leaders with peer funders and possible partners.
2. Expedite support Open Road Alliance - Within one week of the start Funders and philanthropists can meet this of lockdowns in the US, Open Road Alliance doubled moment of global emergency by speeding up its 2020 budget for grants and loans. The new criteria funding decisions; simplifying application and included expedited application procedures and a reporting processes; and easing their terms so temporary internal reorganization of staff that allowed social entrepreneurs can focus on managing their them to process a significantly higher volume than usual. organizations and provide front-line support.
3. Take greater risk Echoing Green - Echoing Green has partnered with the Funders and philanthropists are encouraged to United States African Development Foundation to offer adjust their risk profiles in line with the challenges unrestricted grants to its fellows (with African citizenship) who RECOVER and uncertainties the sector faces. They can are working in Africa as they adapt their work for maximum consider taking first-loss positions, or strengthen impact during the COVID-19 pandemic. their commitment further to organizations working with the most vulnerable.
4. Collaborate and blend Energy Access Relief Fund - This coalition of investors, Funders and philanthropists should share pipelines, donors and industry associations, led by Acumen, CDC combine due diligence, blend and co-invest. Group, SunFunder and Shell Foundation, aims to help Collaborative funding – especially when bundling the energy industry through the economic effects of the philanthropic, corporate and public funds – will pandemic, unlocking over $70 million to date thanks in part to unlock pools of capital commensurate to the crisis. first-loss grants and guarantees from philanthropic funders.
REBUILD/RESET
5. Innovate and experiment Ford Foundation - The Ford Foundation will borrow COVID-19 has created unprecedented challenges $1 billion so it can substantially increase the amount that require foundations to consider ideas – even of money it distributes. It is preparing to issue 30- and radical ones that would never have been considered 50-year bonds, a financial manoeuvre common among in the past. This is the time to ask constituents what governments and companies but extremely rare among they need most and to experiment. non-profit groups.
COVID-19 Action Agenda Leaders on the Front Line 35 4.5 Government institutions 05
We call on government institutions to recognize social entrepreneurs as a driving force in safeguarding jobs and in pioneering a greener and equitable society, as well as to back them accordingly.
“Recognizing the significant strains that governments and social partners are under as leading responders to the crisis, it is even more important to acknowledge social entrepreneurs as vital players in protecting the most vulnerable.”
Victor van Vuuren, Director, Enterprises Department, International Labour Organization (ILO), Geneva
COVID challenges and opportunities
Grappling with the healthcare impact of the are crucial to safeguarding the risks and livelihoods pandemic and needing to mitigate the economic of those at risk and are therefore a key ally for the consequences of the lockdowns, it is clear that public sector. SGBs and social entrepreneurs are governments at all levels face unprecedented not only an engine for job security, they also provide challenges. Social entrepreneurs are important “last-mile access” to those who may otherwise allies on the path to recovery and growth. remain unprotected.
The pandemic is disproportionately affecting Government funding is the largest source of marginalized, often informal, populations. With financing for the global COVID response. Yet COVID-19 only hitting developing and emerging relief packages, including international loans markets now, the need for relief, recovery and and transfers, currently often fail to reach social rebuilding support is significant. entrepreneurs. For example, Intellecap indicated in its June 2020 report that there is little to no Governments play a critical role in delivering and government support for social enterprises in Sub- financing the recovery, including local governments Saharan Africa while, in India, they face real hurdles who are leading the COVID-19 responses around accessing public stimulus packages. the world. They are on the front line of citizen engagement, service delivery, the management of While the strains that governments themselves are public space and local economic agenda setting. under are clear, Alliance members call on them to give social entrepreneurs and SGBs a seat at the The role that businesses, SGBs and social table, to include them in COVID response planning enterprises need to play is even larger, especially and allocations, and to remove red tape so they can in countries where welfare systems are weak. They play their part in the crisis.
COVID-19 Action Agenda Leaders on the Front Line 36 COVID-19 ACTION AGENDA SEPTEMBER 2020 Recommended actions CHAPTER 04 05 Alliance members invite their colleagues to join 05. GOVERNMENT them by taking action in five ways: INSTITUTIONS
1. Protect crucial community organizations and jobs Getting Britain Back to Work - Intermediaries in the UK Social entrepreneurs are powerful allies in collectively approached the government to make the case safeguarding (or bringing back) scores of crucial jobs that social entrepreneurs are job generators – especially in the most affected communities. Swift capital and among marginalized households and areas. The effort liquidity support from governments and development resulted in the release of £150 million in dormant assets finance institutions can ensure that social that are now used by the UK social investment market to entrepreneurs survive the crisis and are in a position create jobs. to protect the livelihoods of vulnerable citizens.
RESPOND 2. Allocate and fast track funding SDG500 Joint Initiative - SDG500 is an impact investment Public sector capital can act as a catalyst in platform formed by a coalition of private- and public-sector enabling social entrepreneurs. Governments should actors dedicated to financing the SDGs. The platform aims make COVID-19 enterprise and NGO capital to raise $500 million to fund small businesses in such fields support rapidly available and enable transparent as agriculture, education and healthcare in Africa, Asia, Latin access to it to ensure social entrepreneurs’ America and the Caribbean. Coalition partners include the UN operational continuity. Capital Development Fund, International Trade Centre and CARE USA.
3. Back existing intermediaries KIVA in collaboration with other funders - KIVA has set Government institutions can provide and channel up a vehicle that allows trusted intermediaries to access immediate cash and non-cash support through significant amounts of patient capital with ease so they existing delivery organizations, often at a local or can, in turn, issue much-needed soft loans to their regional level, which are better able to assess the constituents. Principal amounts are sourced from private situation on the ground. and public funders alike.
RECOVER
4. Remove red tape OECD Policy Mapping - The OECD is compiling Government institutions should unlock regulatory data, analyses and recommendations on a range of barriers that have historically restricted the growth topics, including for micro, small and medium-sized of the sector. This can include actions that enterprises, to address the emerging crisis, facilitate enable social entrepreneurs to competitively and coordination and contribute to necessary global action easily participate in government contracts and when confronting the crisis. procurement processes serving this purpose.
5. Usher a new economic reality Global Steering Group For Impact Investing (GSG) - As Governments at all levels are encouraged to a collective of over 40 national advisory boards, the GSG use this opportunity to benchmark themselves has taken on an action programme to support a just and against their peers; join coalitions and networks impact-led recovery. Actions range from promoting impact that endeavour to reset the world and economic tools and instruments, such as launching a new impact- system(s); and invite social entrepreneurs to the led market narrative, outcomes-based financing and REBUILD/RESET table as invaluable assets in this movement. impact accounting methods.
UNDP Beyond Recovery Initiative - Through its “Beyond Recovery: Towards 2030” phase, UNDP works with countries and actors from all sectors to initiate system-level change. The initiative helps decision-makers make choices and manage uncertainty in four main areas: governance, social protection, green economy and digital disruption.
COVID-19 Action Agenda Leaders on the Front Line 37 COVID-19 ACTION AGENDA SEPTEMBER 2020
“The pandemic represents a rare but narrow window of opportunity to reflect, reimagine and reset our world.”
Klaus Schwab, Founder and Executive Chairman, World Economic Forum
COVID-19 Action Agenda Leaders on the Front Line 38 COVID-19 ACTION AGENDA Below: Adi Goldstein, Unsplash SEPTEMBER 2020 CHAPTER 05
5 The road ahead
COVID-19 Action Agenda Leaders on the Front Line 39 COVID-19 ACTION AGENDA SEPTEMBER 2020 The COVID-19 crisis has exposed deeply –– Welcome new commitments from business, CHAPTER 05 rooted inequalities and system failures that government and philanthropy in support of had remained unseen to many until now. The social entrepreneurs crisis provides an immediate opportunity for all actors to rethink their mandates, processes and –– Mobilize the sector to take further action on systems. the areas of work outlined in this report
Since the COVID-19 Response Alliance for Social –– Promote collaborative approaches and public- Entrepreneurs was launched in April 2020, the private cooperation jointly with social entrepreneurs Alliance members have sought to show that reducing the burden of this inequality is possible –– Reinforce key messages and evidence over the course of the pandemic. through advocacy platforms and media
The Alliance benefits from the representation of –– Track responses and progress on this a wide range of social-sector organizations that Action Agenda. are committed to leading, individually and as a collective, and that contributed to the concrete Contact the World Economic Forum at recommendations in this report. [email protected] if this report has triggered interest in joining Alliance members The five COVID response principles and in their efforts. recommended areas of action will serve as a guide to the work of the Alliance into 2021. Collectively, We are in this together. as an Alliance, the members will seek to: The time to act is now.
COVID-19 Action Agenda Leaders on the Front Line 40 Appendix 1: Who are social entrepreneurs?
A number of definitional choices and distinctions Small and growing businesses were made for this report: Given the critical role that SGBs working in an Social entrepreneurs emerging and developing market context play in building thriving local communities, some would The Schwab Foundation defines social argue that these SGBs are therefore by definition entrepreneurs as “founders of non-profit, hybrid social entrepreneurs. SGBs, as defined by the or for-profit organizations who innovatively Aspen Network of Development Entrepreneurs address a social or environmental problem, with a (ANDE), are “commercial businesses with five to focus on low-income, marginalized or vulnerable 250 employees that have significant potential, and populations.” ambition, for growth. Other than creating jobs, SGBs create goods and services that benefit all Social entrepreneurs have in common that they sectors of society and foster shared prosperity, combine the mission, commitment and relationships essential to the growth of the middle class.” to work with the most vulnerable and marginalized populations and seek to fill socio-economic gaps Note: Throughout this COVID-19 Action Agenda, with entrepreneurial approaches and innovative social entrepreneurs are assumed to include but operating models. They may differ, however, in are not limited to SGBs that match the definition the extent to which they generate revenue or are above. When SGBs are explicitly mentioned, it “market based” and may have different legal forms. is often because research is referenced that only focused on such businesses. It is important to recognize here that practitioners reading this report, and even members of this Alliance, What unites the 60 members of the Alliance, have their own definition of what truly constitutes however, is a deep commitment and belief in a “social entrepreneur.” For example, some may those leaders and organizations who get up exclude non-profit solutions, while others may only every day to help advance the well-being of refer to social entrepreneurs as those who are taking a the people, communities and environment that “systems view” in their work and solutions. surround them.
COVID-19 Action Agenda Leaders on the Front Line 41 Appendix 2: About the COVID Response Alliance for Social Entrepreneurs
The COVID Response Alliance for Social This appendix describes the work and COVID Entrepreneurs was founded in April 2020 by 60 responses of each of the Alliance members. Readers leading organizations to help mobilize support are invited to browse through the extraordinary for social entrepreneurs and to raise awareness efforts each member has made to stand by their of the vital role they play – during the crisis and entrepreneurs and communities in this time of need. beyond. As this report has tried to convey, the impacts The Alliance was initiated by the World of the crisis are only beginning to show, and all Economic Forum’s Schwab Foundation the hands and resources available to help social for Social Entrepreneurship and Yunus entrepreneurs stay in business and come through Social Business with support from the GHR for their constituents are needed. To make it easy Foundation. Since its inception, the Alliance has for readers to join in action, each member has sought to pool knowledge, experiences and summarized concrete opportunities to partner with resources to further its individual and collective them and added contact details to do so. firing power in support of social entrepreneurs who are acting as first responders to the crisis For any general Alliance related questions, please throughout the world. contact: [email protected]
COVID-19 Action Agenda Leaders on the Front Line 42 FIGURE 13 The COVID Response Alliance for Social Entrepreneurs in numbers
Organizations and 14 social entrepreneur 7K+ 60 representatives working towards all representing more Directly supported than ... by funders and intermediaries 17
UN Sustainable Social enterprises 43K+ Development Goals 50K Represented by network bodies
Top three SDGs represented by the 1 5 8 Alliance members DECENT WORK AND NO POVERTY GENDER EQUALITY ECONOMIC GROWTH
With a focus on emerging markets
13% Europe 5% N. America
27% 30% 19% Africa Asia Central & South America
6% Oceania
The Alliance also encompasses the length and breadth of the social enterprise value chain, from funders and investors to a wide range of supporting intermediaries and 18.8% academic/research organizations. 32.8%
Funder or Philanthropist
Corporation
Supporting intermediary
Government institution 9.4% 32.8% Network Body
Academic/Research
COVID-19 Action Agenda Leaders on the Front Line 43 Social entrepreneurs represented in the Alliance
The voices and perspectives of social entrepreneurs Shelly Batra were represented by a committed group of Catalyst Operation Asha 2030 Coalition members during the publication opasha.org of this report and throughout the Alliance’s work. Thanks go to the following social entrepreneurs for Shona McDonald their invaluable contribution: Shonaquip shonaquip.co.za Meagan Fallone Barefoot College Urvashi Sahni barefootcollege.org Study Hall Education
Sue Riddlestone Fredrik Galtung Bioregional True Footprint bioregional.com TrueFootprint.com
Janet Longmore Gary White Digital Opportunity Trust Water.org dotrust.org water.org
Jonathan Jackson Rana Dajani Dimagi We Love Reading, Jordan dimagi.com welovereading.org
Celina Desola Glasswing International glasswing.org
Anshu Gupta Goonj goonj.org To learn more about Catalyst 2030 and its global Neelam Chibber movement to gather social-change innovators to Industree achieve the SDGs, visit catalyst2030.net. industree.org.in The Catalyst 2030 report Getting from crisis to Raj Panjabi and James Nardella systems change: Advice for leaders in the time Last Mile Health of COVID, a collaboration by more than 1,600 lastmilehealth.org organizations, was launched during a live online fireside chat with UN Deputy Secretary-General Jeroo Billimoria Amina J Mohammed in July 2020. The report is One Family Foundation available at https://catalyst2030.net/getting-fro- onefamilyfoundation.one crisis-to-systems-change.
COVID-19 Action Agenda Leaders on the Front Line 44 Alliance member profiles
All 60 Alliance members are working to support their type, their response and insights to date related to entrepreneurs and constituents, recognizing the the challenges at hand and concrete opportunities unique challenges that the pandemic has created. for collaboration. Specific recommendations by the The profiles of each of the 54 public members COVID-19 Social Enterprise Action Agenda for each described in this section include their organization type of actor are also included.
We call on all actors We call on supporting intermediaries We call on (impact) investors
to stand by social entrepreneurs in their to provide fitting support to social to adapt their investment priorities capacity as front-line responders to the entrepreneurs and the communities and processes, and to provide flexible health crisis and as pioneers of a green, they serve, and to make known capital as well as must-have technical inclusive society and economic system the needs and priorities of social assistance entrepreneurs on the ground
Make social entrepreneurs and Be customer and community P-1 S-1 I-1 Revisit processes and terms communities heard driven Prepare to respond, recover P-2 S-2 Lean in and adjust I-2 Be a conduit to grant capital and reset Share insights and best P-3 Collaborate across sectors S-3 I-3 Expand technical assistance practices
P-4 Look beyond healthcare S-4 Establish smart partnerships I-4 Collaborate and co-invest
P-5 Support shovel-ready solutions S-5 Take an ecosystem approach I-5 Plan for the long term
We call on corporations We call on funders and philanthropists We call on government institutions
to stand with social entrepreneurs within to expand and expedite their support to to recognize social entrepreneurs as a their supply chains and the broader social entrepreneurs and intermediaries, driving force in safeguarding jobs and ecosystem, fulfil their agreements and taking risks reflective of today’s in pioneering a greener and equitable extend their support to build a more unprecedented times society, as well as to back them inclusive and resilient economy accordingly
Protect crucial community C-1 Honour existing relationships F-1 Expand support G-1 organizations and jobs
C-2 Forge new partnerships F-2 Expedite support G-2 Allocate and fast track funding
C-3 Facilitate capital connections F-3 Take greater risk G-3 Back existing intermediaries
C-4 Invest in capacity building F-4 Collaborate and blend G-4 Remove red tape
C-5 Deepen and widen your footprint F-5 Innovate and experiment G-5 Usher a new economic reality
COVID-19 Action Agenda Leaders on the Front Line 45 Alliance Members
Aavishkaar Group takes an entrepreneurship- Top COVID-19 Challenge(s) based approach towards development. We The greatest challenges for our organization are boost impact ecosystems in Asia and Africa. managing uncertainty of revenue, limited ability The Group’s ecosystems include Aavishkaar to complete projects in the field and delivering on Capital (equity-led impact investing), Arohan (a our programmes. Entrepreneurs we support in Role/Function tech-led financial inclusion platform), IntelleGrow our ecosystem are facing a severe capital crunch, Supporting Intermediary (lender to SGBs), Tribe (fintech), Intellecap (a labour shortage and disrupted supply chains, Entrepreneurs Served sustainability advisory business) and Sankalp all of which impact the millions of low-income 10,000K+ Forum (a development-led platform). We beneficiaries the enterprises support. Capital and People Reached manage assets in excess of $1 billion across technical support are the need of the hour. 65 million+ equity and credit SDGs Tackled Partnership Opportunity 1, 2, 3, 5, 6, 7, 8, 9, 11, 12, COVID-19 Response to Date We invite market actors to join us as we fundraise for: 13, 17 Our organization has provided: –– The Sankalp Global Summit 2020 (Nov 2-6): Regions –– Additional equity financing Convening the Global South, connecting social South Asia, South-East –– Technical assistance related to operations, entrepreneurs and providers of capital Asia, East and West Africa human resources and shifting business models –– Emergency facility for supporting low-income Contact details –– Outreach and Network Connections - Sankalp livelihoods (MFIs in India, South Asia and Africa) Urvashi Devidayal Dialogues on Informal Settlements –– Emergency funding for Aavishkaar Capital Tarun Mehta –– Grant funding to NGOs for relief work in low Investees Mukund Prasad income states. –– Defending the livelihood of women poultry producers (Dalit tribe, India) https://aavishkaar.in/ Relevant Action Agenda items: S-3, S-4, S-5
Acumen invests in early-stage companies Top COVID-19 Challenge(s) whose products and services enable the poor to The crisis required a major pivot to accelerate transform their lives. In addition to providing seed understanding of the issues that our portfolio capital, we support companies with the tools, companies and Fellows face, so that we could networks, technical assistance and strategic match their needs with sufficient capital and Role/Function guidance needed to succeed and scale into support. Supporting Intermediary, long-term solutions to overcome poverty. Our Investor Fellows programme (700+ beneficiaries) supports For our network, the slowdown of philanthropic and Entrepreneurs Served extraordinary individuals with the knowledge, invested capital represents a major challenge: We 250 resources and practical wisdom to unlock their full have seen a significant reduction of funding across People Reached potential as leaders driving social change. the entire spectrum in a context that demands the 300 million + opposite, namely increased scale and flexibility of SDGs Tackled COVID-19 Response to Date funding. 1, 2, 4, 5, 7, 8, 9, 10, 13,15, Our organization has provided: 16, 17 –– Emergency grants and loans via our Global Partnership Opportunity Regions Emergency Facility and America Emergency We invite market actors to: North and South America, Fund –– Share available resources from the Acumen Africa, South Asia –– Technical assistance related to operations and Academy with their constituents - incl. courses Contact details human resources, shifting business models and and webinars on fundraising, business resilience Yasmina Zaidman management of financials and leadership –– Support our emergency facilities, mentioned in https://acumen.org/ Relevant Action Agenda items: I-1, I-2, I-3 this profile
COVID-19 Action Agenda Leaders on the Front Line 46 African Venture Philanthropy Alliance (AVPA) Relevant Action Agenda items: S-3, S-5 aims to build a collaborative network of social investors to increase capital flow into social Top COVID-19 Challenge(s) Role/Function investments in Africa and ensure that they are –– Mobilizing funds Supporting intermediary deployed for maximum impact. Bringing together the –– Transferring lessons across countries and regions Entrepreneurs Served continuum of investors from grant makers to impact –– Economic recovery and ensuring job security -- funds, debt and equity players and governments, People Reached AVPA believes that innovative financing approaches Partnership Opportunity >100 million are significant in crowding private-sector capital to We invite market actors to: SDGs Tackled address the $500 billion to $1.2 trillion annual SDG –– Help us run innovative finance capacity- All financing gap in Africa to 2030. building programmes for social investors in Regions Africa Africa COVID-19 Response to Date –– Collaborate and co-invest, namely with Contact details Our organization has provided: catalytic capital Frank Aswani –– Convening platforms for investors in Kenya, –– Test new financing models for recovery Nigeria and South Africa –– Join our upcoming deal-share platform and www.avpa.africa –– 10 pan-African webinars addressing issues gender platforms around vulnerable communities –– Inter-regional webinars in partnership with our sister networks in Asia, Europe and Latin America
Agora Partnerships is a non-profit organization Relevant Action Agenda items: S-1, S-3, S-5 that provides access to knowledge, networks and capital to small and growing businesses in Latin Top COVID-19 Challenge(s) America and the Caribbean. Agora’s purpose We have limited bandwidth to fundraise for is to strengthen local inclusive entrepreneurship emergency loans to our portfolio. We aim to strike a Role/Function ecosystems and to increase the flow of resources balance between working to support entrepreneurs Supporting Intermediary to entrepreneurs working to solve social and and staff, including analysing and shifting our own Entrepreneurs Served environmental challenges. business model as well as the virtualization of our 400 programmes. People Reached COVID-19 Response to Date 6 million + Agora created an action-oriented task force of 50+ Partnership Opportunity SDGs Tackled top accelerators, incubators and funds across Latin We collaborate with Emprendedores Frente al 1, 5, 8 America to coordinate support to entrepreneurs in Covid-19 and CovidCap, and invite market actors Regions the region. Additionally, we provided: to do the same: share resources and opportunities Central and South America –– Technical assistance related to operations, on these platforms to reach entrepreneurs in Latin Contact details pivoting business models, online sales and America. We are also currently working with Alliance Cecilia Foxworthy financials partners to design an ecosystem-wide solidarity –– Webinars and small-group consulting fund to provide catalytic capital between 100K - https://agora2030.org/ 250K to social entrepreneurs across the Americas.
Argidius Foundation aims to help entrepreneurs between our partners and new organizations. build profitable businesses and contribute to the Recognizing the need for virtual support, Argidius sustainable development of their communities. is supporting innovative, digitalized, technical We do so by improving the effectiveness and assistance approaches for entrepreneurs, Role/Function reach of small and medium-sized enterprise Funder development services by supporting high- Relevant Action Agenda items: F-1 to F-5 Entrepreneurs Served quality organizations to grow sustainably to 10,000+ scale, researching what works effectively in Top COVID-19 Challenge(s) People Reached helping businesses grow. In the past five years, As a foundation, our biggest challenge has -- our partners have worked with more than been to ensure our partners’ transition to virtual SDGs Tackled 10,000 businesses creating over $660 million of delivery of their services in support of their 1, 8, 17 incremental revenue. constituent entrepreneurs. Regions East Africa, Central America COVID-19 Response to Date Partnership Opportunity Contact details In direct response to the crisis, we have made We invite you to join us to support initiatives in the Nicholas Colloff our funding more flexible, expanded our support field of social entrepreneurship on an ongoing basis, to existing partners and facilitated collaboration as outlined on our website: www.Argidius.com. https://www.argidius.com/
COVID-19 Action Agenda Leaders on the Front Line 47 Ashoka’s vision is that the world is defined by Relevant Action Agenda items: S-4, P-1 change and requires a new mindset - a world in which all citizens are empowered as changemakers Top COVID-19 Challenge(s) and can contribute to change in positive ways. We are working hard to support social Ashoka identifies and supports the world’s leading entrepreneurs as they respond to the acute social entrepreneurs, learns from the patterns in emergencies that COVID-19 creates while at the Role/Function their innovations and mobilizes a global community same time maintaining our focus on the systemic Supporting Intermediary that embraces these new frameworks to build an change needed to create a world in which Entrepreneurs Served “everyone a changemaker” world. Key focus areas everyone is a changemaker, more important today 4000+ for our activities include changing the way young than ever before. People Reached people grow up, tech and humanity, climate and -- planet, ageing and equality. Partnership Opportunity SDGs Tackled We invite partners (entrepreneurs, philanthropists, All COVID-19 Response to Date companies and investors) to join our global Regions Our organization has been co-entrepreneuring at community of social entrepreneurs in developing Global local, regional and global levels, raising the visibility powerful new approaches to addressing COVID-19 Contact details of social entrepreneurs throughout the crisis and and the impact it is having on people and Diana Wells creating impact. communities around the world. https://www.ashoka.org/en
Asian Venture Philanthropy Network (AVPN) Relevant Action Agenda items: S-1, S-2, S-3 As the only comprehensive funders’ network in Asia, AVPN is a leading ecosystem builder for the Top COVID-19 Challenge(s) social investment sector with 580+ members. Numerous solutions and projects are under way, with Role/Function AVPN’s mission is to catalyse the movement toward many requiring immediate liquidity to scale their impact. Supporting Intermediary a more strategic, collaborative and outcome- Entrepreneurs Served focused approach to social investing, ensuring that Greater collaboration is needed to prevent 380 resources are deployed as effectively as possible duplication of efforts and resources for more People Reached to address the key social challenges Asia is facing efficient address of systemic challenges. 17,000 now and will face in the future. SDGs Tackled Partnership Opportunity All COVID-19 Response to Date We have identified resources that projects can Regions To reduce duplication and increase effective tap into to scale their impact and need to invest Asia-Pacific capital mobilization, AVPN launched its in capacity building to close the gap between Contact details COVID-19 Platform to highlight high-impact investors and investees. Naina Subberwal Batra projects, encourage collaboration around scalable solutions and map our members’ Support for long-term rebuilding across intersecting https://avpn.asia/ COVID-19 responses. To date, our members areas affected by COVID, such as gender, climate have deployed more than $10 billion to address and health, will also be important to ensuring the pandemic. sustainable development.
Aspen Network of Development Entrepreneurs Relevant Action Agenda items: S-3, S-5 (ANDE) is a global network of organizations that propel entrepreneurship in emerging markets. Top COVID-19 Challenge(s) ANDE members provide critical financial, The biggest challenge for our organization is Role/Function educational and business support services to small financial uncertainty. Many of our members are Supporting intermediary and growing businesses (SGBs) based on the facing business-model disruption without grant Entrepreneurs Served conviction that SGBs can create jobs, stimulate funders stepping up to fill the gaps. To keep -- long-term economic growth and yield environmental entrepreneurial ecosystems alive post-COVID, People Reached and social benefits. ANDE is part of the Aspen it will be critical for funders to help intermediary -- Institute, a global non-profit organization committed organizations survive. SDGs Tackled to realizing a free, just and equitable society. 5, 8, 13 Partnership Opportunity Regions COVID-19 Response to Date We invite market actors to join an SGB Recovery Global Our organization has provided: Facility, targeted at intermediaries to provide grant Contact details –– Knowledge sharing and networking activities support to help capacity development providers Jenny Everett –– Advocacy for greater funding to support expand and adapt operations to serve SGBs as they social entrepreneurs and the intermediaries adapt to the new economic reality. We believe that https://www.andeglobal.org/ that support them (e.g. accelerators, training capacity-development organizations will have an even institutions) more critical role to play in the post-COVID economy.
COVID-19 Action Agenda Leaders on the Front Line 48 The B Lab Global Network leverages its Top COVID-19 Challenge(s) constituency and market infrastructure - including The immediate challenge is to gather and an online impact management platform - to steer understand the short-term needs of the community a global movement for economic systems change. to respond quickly to the crisis. Organizationally, B Lab unites and organizes a global network of we also experience uncertainty regarding earned private-sector leaders who advance strategies for and philanthropic revenue in the short and long Role/Function economic systems change, prioritizing the health term, which is making it difficult for us to balance Supporting Intermediary of workers and communities over GDP, advancing the need to respond to the immediate crisis and the Entrepreneurs Served an inclusive economic recovery with accountability need for long-term systemic change. 3,400 (B Corps) to stakeholders over shareholders and people over People Reached profits. Partnership Opportunity 100,000+ (users of impact We invite market actors to support our COVID-19 management platform) COVID-19 Response to Date response programmes in following categories: SDGs Tackled Our organization has provided: –– Rural education for children All –– Technical assistance related to operations or –– AI-based programme driving better financial Regions human resources, pivoting business models, and health behaviours through and with women Global managing supply chains, accessing government (ready to scale) Contact details support or other relief mechanisms –– Video content to take on health information Holly Ensign-Barstow –– Outreach and network connections dissemination and stigma issues in India (needs funding to expand to vaccination) https://bcorporation.net/ Relevant Action Agenda item: S-3 about-b-lab
Catalyst 2030 is a rapidly growing, practitioner-led Top COVID-19 Challenge(s) movement of the world’s leading social entrepreneurs Funding! Funding is the key priority for almost all from Ashoka, Echoing Green, the Schwab social entrepreneurs. Foundation for Social Entrepreneurship and the Skoll Foundation, working in 179 countries globally. Our The greatest challenge, owing to the lack of main mission is to accelerate the achievement of the funding, is having to scale back precisely when the Role/Function Sustainable Development Goals by transforming the need of our communities is the greatest. Supporting Intermediary ecosystem to scale sustainable solutions. Entrepreneurs Served Partnership Opportunity 200+ COVID-19 Response to Date We invite market actors to: People Reached Our organization has provided: –– Support Catalyst 2030 members with funding 800 million –– Knowledge-sharing and networking activities –– Support our advocacy efforts, working SDGs Tackled –– Advocacy for greater funding to support towards creating the post-COVID new All social entrepreneurs and the intermediaries normal, placing social entrepreneurs at the Regions that support them (e.g. accelerators, training centre of development so that effective Global institutions) solutions can be scaled Contact details Jeroo Billimoria Relevant Action Agenda items: P-1, P-3, P-4, P-5 https://catalyst2030.net/
COVID-19 Action Agenda Leaders on the Front Line 49 The Center for the Advancement of Social triage of ongoing organizational needs. We have Entrepreneurship (CASE) at Duke University’s been conducting research, influencing other Fuqua School of Business works to equip leaders institutions and adjusting programmes. For social and organizations with the business skills needed entrepreneurs, CASE: to achieve lasting social change. CASE provides global leadership for the study and support of –– Released new collections on scaling through data Role/Function social entrepreneurs and impact investing through Academic/Research research, teaching and field-building activities. –– Finalized a new diagnostic tool for scaling Entrepreneurs Served readiness 3000 COVID-19 Response to Date People Reached –– CASE Smart Impact Capital provides free –– Published a guide entitled “How do I Raise -- access to online training and fundraising, Capital During COVID-19?” SDGs Tackled following a public webinar on raising capital -- during the crisis (13,000+ users in total) –– Reduced our pricing on CASE Smart Regions Impact Capital by 86% to encourage use by Global –– Covidcap.com – a website listing over entrepreneurs facing cash challenges, especially Contact details $1.1 trillion financial and over 130 non- in developing countries Catherine Clark financial pandemic relief resources for social entrepreneurs everywhere (accessed 40,000+ Partnership Opportunity http://centers.fuqua.duke. times) We invite market actors to: edu/case/ –– Become bulk partners with our online –– Scaling through Mass Disruption – video fundraising training programme, CASE Smart series on tactical crisis handling for social Impact Capital entrepreneurs, together with Alliance members –– Apply to join as funding partners for the F.M. Skoll Foundation, USAID and MercyCorps Kirby Social Impact Prize, our new $100K unrestricted scaling social impact prize for social Relevant Action Agenda items: I-1 to I-5. S-2, S-3 entrepreneurs everywhere
Top COVID-19 Challenge(s) Our main challenge has been balancing rapid action and thought leadership vs. continued
Co-Impact is a philanthropic collaborative Top COVID-19 Challenge(s) supporting locally rooted coalitions working to COVID-19 has affected the work of all our achieve impact at scale in the Global South. To programme partners, who are adjusting and achieve this, leaders with powerful ideas need responding, working with governments and support to go beyond singular interventions partners to 1. take on new challenges, 2. pause Role/Function and focus on deep systemic change. We and adapt work as school and other systems have Supporting Intermediary bring together a group of (40+ and growing) shut down, and/or 3. continue to advance long- Entrepreneurs Served philanthropists and funders with shared values and term systemic change. -- an aligned vision of what is required to achieve People Reached large-scale change. We view each of these activities as important and 9 million legitimate, and support our partners in making SDGs Tackled COVID-19 Response to Date sound ethical and strategic judgement in the 1, 3, 4, 5, 8, 16, 17 Our organization has supported fundraising and actions they choose to take. Regions adopted flexibile planning and reporting to our Africa, Asia, Central & South constituents. Partnership Opportunity America We invite market actors to contact us for more Contact details Relevant Action Agenda items: F-1, F-2 details about the funding needs of our portfolio. Anna-Marie Harling https://www.co-impact.org/
COVID-19 Action Agenda Leaders on the Front Line 50 DOEN Foundation is a Dutch foundation set up Relevant Action Agenda items: F-1, F-5, P-2, I-1, I-4 by the Postcode Lottery and supports initiatives from people who are not afraid to take risks while Top COVID-19 Challenge(s) putting their pioneering ideas into practice and –– Catering support to the needs of the partners inspiring others. –– Distinguishing COVID-related needs or liquidity issues from partners from general issues Role/Function COVID-19 Response to Date –– Determining a longer-term strategy Funder –– Created internal relief facility of €3 million + in integrating uncertainties Entrepreneurs Served mid-March to support portfolio partners using 200 + tailor-made instruments Partnership Opportunity People Reached –– Supported sector-wide initiatives that –– Accessing the network -- investigated the effects of COVID-19 on –– Sharing learnings and the pipeline SDGs Tackled vulnerable communities (e.g. in energy access) –– Ecosystem support, linking partners to reinforce 7, 12, 13 –– Actively communicated about our actions to the their capabilities and stimulate crossovers (for Regions sector, shared learnings instance in the health or energy sectors) East Africa, South Asia, –– Sent message to sector that DOEN is still open Western Europe to new partners Contact details Michelle de Rijk Saskia Werther http://www.doen.nl/
The Draper Richards Kaplan Foundation (DRK) Relevant Action Agenda items F-1, F-2 is a global venture philanthropy firm supporting early-stage, high-impact non-profits and social Top COVID Challenge(s) enterprises. Borrowed from our venture capital Supporting ~60 social enterprises and each one’s Role/Function legacy, DRK finds, funds and supports exceptional unique needs as they navigate the immediate, Funder leaders with innovative, high-impact ideas that have medium and long-term impacts of COVID-19. Entrepreneurs Served the potential to address complex, global social and Having a DRK staff member on the board of each 60 environmental problems at scale. DRK provides organization, our first priority is to help the current People Reached capital and ongoing support by partnering with portfolio organizations stabilize cash and adapt to 78,000,000 founders to help build capacity in the organization crisis leadership. SDGs Tackled and scale their impact. All Partnership Opportunity Regions COVID-19 Response to Date –– DRK seeks early-stage entrepreneurs to support Global The entire DRK team is providing lean-in, bespoke in Africa and India Contact details support to the current portfolio. In parallel, we set –– DRK shares its pipeline with impact investors Lisa Jordan up a limited COVID urgent response initiative (CURI) and funders to engage in funding opportunities to support initiatives that can deploy within 90 days for enterprises with outsized impact www.drkfoundation.org/ to meet urgent social needs arising as a result –– DRK seeks support from funders to support our of COVID. Of note, we have dropped reporting fourth philanthropic fund requirements.
COVID-19 Action Agenda Leaders on the Front Line 51 For more than 30 years, Echoing Green has been Top COVID-19 Challenge(s) in the front lines of solving the world’s biggest Our primary challenge has been supporting early- problems, with transformational leaders willing to stage social entrepreneurs through the crisis, challenge the status quo. The organization finds particularly those who report significant financial Role/Function emerging leaders with the best ideas for social challenges and the risk of staff layoffs or permanent Supporting Intermediary, innovation as early as possible, and sets them on a closure. The COVID-19 crisis has exacerbated long- Funder path to lasting impact. Echoing Green has provided standing structural inequities impacting vulnerable Entrepreneurs Served over $46 million in seed funding to more than 800 communities and people of colour. 800+ emerging social entrepreneurs around the world. People Reached Partnership Opportunity 4.5+ million COVID-19 Response to Date We invite market actors to accept risk and SDGs Tackled Echoing Green raised and disbursed $223K in loosen requirements to fund early-stage All emergency grants to 24 organizations around the social entrepreneurs, particularly BIPOC and Regions world, focusing resources towards organizations marginalized leaders whose communities endure Global with urgent cash flow needs. We opened a second disproportionate impacts of the COVID-19 Contact details grant application in July 2020 and anticipate pandemic. Echoing Green recently launched an Ben Beers distributing an additional $100K. ambitious $50 million philanthropic fund to support racial equity and inclusive social entrepreneurship https://echoinggreen.org/ Relevant Action Agenda items: I-1, I-2, I-3, I-4, I-5, efforts over the next three years. S-2, S-3, S-5
Euclid Network (EN) is the European Network Top COVID-19 Challenge(s) for social enterprises and impact-driven EN’s number one challenge is to coordinate leaders, and a strategic partner to the European and map the current and future needs of social Commission. The Network consists of national enterprise organizations throughout Europe and its social enterprise networks, social incubators, neighbouring countries to address the crisis. Role/Function social funds and universities, all with the goal of Supporting Intermediary enhancing social entrepreneurship. Together, we We have also been providing technical assistance Entrepreneurs Served undertake projects, advocacy and partnerships related to accessing government support or other relief. 100,000 to develop a collaborative network of social- People Reached impact practitioners. Partnership Opportunity -- You are invited to join our efforts in: SDGs Tackled COVID-19 Response to Date All EN conducted a survey among its members –– Assessing and highlighting needs across Regions (prominent national networks for social member portfolios Europe, Middle East, North entrepreneurship) from 20 countries to assess –– Advancing joint communication efforts to Africa the impact of the COVID-19 pandemic on social advocate for appropriate fiscal and policy Contact details entrepreneurship. EN is continuously updating and interventions relevant social entrepreneurship, Suzanne Wisse-Huiskes sharing the results with the European Commission namely, 1. June 2020 report on the response of and other stakeholders from the public and private governments to socio-economic actors in the https://euclidnetwork.eu/ sectors to take coordinated action. COVID context, 2. July 2020 policy frameworks, and 3. the European Social Entrepreneurship Relevant Action Agenda items: P-1, S-5, G-5 Monitor, slated for January 2021
COVID-19 Action Agenda Leaders on the Front Line 52 With 300+ members, the European Venture given visibility, accelerating and streamlining the Philanthropy Association (EVPA) is the leading flow of capital. network in Europe on venture philanthropy and social investing. We envisage a world in which Relevant Action Agenda items: P-3, S-3, S-5, I-2 philanthropy and investment combine to drive Role/Function sustainable societal impact, enabling ‘Investors Top COVID-19 Challenge(s) Supporting Intermediary for Impact’ to maximize social impact through During the emergency phase, the main request was Entrepreneurs Served increased resources, collaboration and expertise. liquidity and direct assistance. Many foundations and -- social investors concentrated primarily on their existing People Reached COVID-19 Response to Date beneficiaries and known territories. Coordination was -- Coordinating pan-European efforts and only a secondary request. This might change during SDGs Tackled streamlining activities, EVPA took the lead in the recovery and rebuilding phase. All setting up Unitus Europe, a joint platform with the Regions European Foundation Centre (EFC), Donors and Partnership Opportunity Europe Foundations Network in Europe (Dafne), Network As Unitus Europe is a supply network, further Contact details European Foundations (NEF) and the Global collaboration with the demand side is valuable. Our communication@evpa. Steering Group for Impact Investment (GSG)’s focus is on pan-European challenges that surpass eu.com national advisory boards to share information, national boundaries. A concerted effort with multiple highlight best practices and facilitate supply and partners, including policy-makers, is needed to www.evpa.eu.com demand matching. Around 20 initiatives have been rebuild in a sustainable manner.
Fundación Avina is a Latin American foundation Top COVID-19 Challenge(s) focused on producing large-scale change for Latin America faces a tremendous challenge sustainable development in the region by building to come together as a region to implement a collaborative processes among actors in various coordinated response owing to weak infrastructure sectors. Collaborative change processes are the for regional integration. As an intermediary Role/Function core of Avina’s implementation strategy and guiding federating organization, we aim to act as a Supporting Intermediary vision. To fulfil our mission, we work from the South convener, seeking to build a regional landscape, Entrepreneurs Served (Latin America and Africa) to advance innovations to identfy, connect, develop and scale common 18,000 promoting care for the planet and the well-being of strategies among the various emerging national People Reached all people. funds for more effective collaboration. -- SDGs Tackled COVID-19 Response to Date Partnership Opportunity 1, 6, 7, 8, 9, 10, 11, 13, Our organization has provided: We invite market actors to mobilize collaborative 16, 17 –– Emergency grants funds to support civil society organizations Regions –– Technical assistance related to operations in the Global South. We will guarantee the Central and South America, or human resources, changing the business implementation of collaborative, innovative Africa model, and accessing government support or solutions and joint investment through 1. Contact details other relief mechanisms FORGE’s Response and Vision Fund, 2. Regional Valeria Scorza relief response for the urban poor in Latin Relevant Action Agenda items: F-1 America, and 3. progress to blended mechanisms https://www.avina.net/ for SMEs and NGOs.
The mission of the GHR Foundation is to be of Relevant Action Agenda items: F-1, F-2, F-3, F-5 service to people and their limitless potential for good, reimagining what’s possible in supporting Top COVID-19 Challenge(s) children in families, shaping robust education COVID-19 response needs are draining funds models, addressing racial inequities, preventing primarily to front-line responders, including those Role/Function Alzheimer’s disease, and redefining global reserved for longer-term strategic change, and this Funder development for the common good. is not about to adjust. Forward planning is nearly Entrepreneurs Served impossible. Reserves will be difficult to build up -- COVID-19 Response to Date again in a receding economy resulting in long-term People Reached Financial and non-financial support to: struggles for the sector and its beneficiaries. -- –– Faith, multi-faith and civil society response in SDGs Tackled communities Partnership Opportunity 17 –– Global platforms advocating renewed systems We invite conversation with those interested in Regions and values-based change building coalitions and social change campaigns Global –– COVID-19 therapeutics and immunotherapy across sectors capable of reimagining and resetting Contact details research global development systems at a new level, rooted C. Berger in human dignity and solidarity. www.ghrfoundation.org/
COVID-19 Action Agenda Leaders on the Front Line 53 The Global Impact Investing Network (GIIN) Relevant Action Agenda items: I-4, I-5 champions impact investing on a global scale, dedicated to increasing its scale and effectiveness Top COVID-19 Challenge(s) around the world. The GIIN builds critical Determining how best to support the impact- infrastructure and supports activities and supports investing industry to act with urgency in response Role/Function education and research that help accelerate the to the COVID crisis while managing myriad Supporting Intermediary development of coherent impact investing. unexpected challenges in deploying new impact Entrepreneurs Served investments and/or supporting current investees. -- COVID-19 Response to Date People Reached The GIIN has been supporting the impact Partnership Opportunity -- investing community in its response to the Alliance investor members are invited to join the SDGs Tackled COVID-19 crisis by providing investors with activities of the Response, Recovery and Resilience All access to COVID-related data and information, Investment Coalition (‘R3 Coalition’), seeking to Regions facilitating knowledge exchange on interventions address the negative effects of the COVID crisis Global and accelerating collaboration among impact by providing investors with insights and convening Contact details investors. The GIIN serves as the secretariat to opportunities to coordinate and accelerate Katrina Ngo the R3 Coalition. Further information is available responses to address the crisis. Interested investors https://thegiin.org/ on our website. are invited to visit our website.
The Global Innovation Fund is a non-profit that Relevant Action Agenda items: I-1, I-2, I-3 invests in the development, rigorous testing and scaling of innovations targeted at improving the Top COVID-19 Challenge(s) lives of the world’s poorest people. We believe –– Protecting our partner organizations, promoting Role/Function that the best ideas for solving some of the world’s resilience and social value, to positively impact Investor most critical problems can come from anyone, the lives of 89 million people by 2030 Entrepreneurs Served anywhere. Through our grants and risk capital, we –– Ensuring that approaches for the innovation 35 help breakthrough solutions to global development agenda respond in ways that are appropriate to People Reached challenges to maximize their impact and effect the local context 22.7 m meaningful change. SDGs Tackled Partnership Opportunity All COVID-19 Response to Date We invite market actors to a conversation about Regions Our organization has: how the private sector can use its capacity for Africa, Asia, Latin America –– Supported portfolio organizations to continue rapid adaptation and innovation to respond to Contact details their work shocks and uncertainties in collaboration with the Sarah Alexander –– Invested in COVID-related rapid learning public sector, with the ultimate goal of ensuring mechanisms to help improve field response to access to essential health and other services for the the pandemic vulnerable. –– Devoted GIF resources to fund new, COVID- related deals
The Global Steering Group for Impact Investing in emerging and middle-income situations. We (GSG) is an independent global steering group know that many other countries might need our catalysing impact entrepreneurship to benefit support and tools, but this initial development work people and the planet. is very difficult without face-to-face connection. We believe that healthcare, education, jobs and Role/Function COVID-19 Response to Date skills are the critical immediate needs, alongside Supporting Intermediary The GSG has set out eight action areas to achieve a the challenge of informal settlements. Now is the Entrepreneurs Served just and impact-led recovery to benefit all people and time for a just and impact-led recovery to benefit all -- our planet. This includes work to boost fund flows people and our planet. People Reached to emerging markets, particularly for SME social -- enterprises and small and growing businesses. Partnership Opportunity SDGs Tackled The GSG has convened the main global and -- Relevant Action Agenda items: Most from G, F, I, S, regional impact market builder organizations. Regions especially G-5. Working to achieve together what we cannot deliver Global, 32 countries plus individually, we identify key actions, test them with the EU Top COVID-19 Challenge(s) the wider impact movement, and act to achieve a Contact details The GSG movement is active in 32 countries, many just and impact-led recovery. [email protected]
COVID-19 Action Agenda Leaders on the Front Line 54 Greenwood Place is a philanthropy Top COVID-19 Challenge(s) accelerator, providing strategic advice and Many of our grantee partners have pivoted in execution capability for a small community of order to maintain impact, resulting in significantly entrepreneurial philanthropists. increased workload at a time of increased Role/Function need. Most also face revenue shortfall. These Funder COVID-19 Response to Date challenges have been compounded by the Entrepreneurs Served The philanthropists we support have provided difficulty for individual team members of delivering -- emergency funding to social change leaders in a time of lockdown. People Reached undertaking COVID-19 response in Africa, South -- Asia and Europe and emergency ‘surge’ funding Partnership Opportunity SDGs Tackled to our grantee partners whose work has been We invite other funders and investors to contact us All adversely impacted by COVID-19. to find out more about our portfolio partners and Regions their current funding needs. Sub-Saharan Africa, South Relevant Action Agenda items: F-1 to F-5 Asia, Europe Contact details www.greenwood.place
The IIX (Impact Investment Exchange) aims Top COVID-19 Challenge(s) to build a more inclusive world by innovating Since most of the companies we work with operate solutions for the empowerment of women, in a data-poor ecosystem, our main challenge has climate action and enhanced community been to obtain real-time information about the most resilience. We have built the world’s largest pressing needs of beneficiaries, to help companies Role/Function impact investing crowdfunding platform, created adjust accordingly. The digital tools we have Supporting Intermediary innovative financial products like the Women’s created help us navigate this challenge, and we are Entrepreneurs Served Livelihood Bond, operated award-winning about to launch our digital impact verification tool 30+ enterprise technical assistance programmes and allowing beneficiaries to communicate how they are People Reached established an Impact Institute. The foundation of being affected and what would be the best means 650,000+ our work is our proprietary Impact Assessment. of supporting them. SDGs Tackled 1, 5, 7 COVID-19 Response to Date Partnership Opportunity Regions Our organization has provided: –– Use the digital tools we created during the Africa, Asia, Central & South –– Additional equity financing pandemic to ensure continued flow of capital America –– Technical assistance related to pivoting business from investors to impact enterprises (regardless Contact details models, managing financials and accessing of travel limitations) Matthew Newman government support or other relief mechanisms –– Raise capital to support impact enterprises –– Capital raising support –– Harness IIX’s knowledge and experience to WWW.iixglobal.com effectively deploy grant funding through the IIX Relevant Action Agenda items: P-1, I-1 Emergency Financing Facility
The IKEA Foundation works to create a better Top COVID-19 Challenge(s) everyday life for many people. As the philanthropic Since every partner has specific concerns and arm of INGKA Foundation, owner of the Ingka requests, we consider partner requests on a case- Role/Function Group of companies, we focus on improving the by-case basis and carefully evaluate the options we Funder lives of vulnerable children by enabling their families have to support each partner. Entrepreneurs Served to create sustainable livelihoods, and on fighting -- and coping with climate change. Partnership Opportunity People Reached Supporting entrepreneurship initiatives on an -- COVID-19 Response to Date ongoing basis with our grant-making, we aim to SDGs Tackled The IKEA Foundation supports partners who offer accelerate the shift towards a green economy 1, 7, 8, 13 programmes for social entrepreneurs, to identify by promoting green and inclusive initiatives Regions and understand the challenges they face as a result that enhance livelihoods, create employment East Africa, South Asia of the COVID-19 crisis. We have offered partner and propose innovative solutions to planetary Contact details organizations tailor-made support to ensure that challenges. Els Remijn they can continue the important work they do and, where necessary, can adapt to the current situation. For more information on the work that we support, https://ikeafoundation.org/ see www.ikeafoundation.org. Relevant Action Agenda items: F-1, F-2
COVID-19 Action Agenda Leaders on the Front Line 55 Backing and working with social entrepreneurs, –– Collaborating with other funders and corporates to IKEA Social Entrepreneurship creates greater strengthen the social entrepreneurship ecosystem opportunities and contributes to improving Role/Function everyday lives around the world. Together with Relevant Action Agenda items: C-1, C-2, C-3, F-4 Funder, Business partner dedicated partners and experienced IKEA co- Entrepreneurs Served workers, we co-develop programmes, products Top COVID-19 Challenge(s) >100 and services with our partners to scale up social Transparency and accurate assessment of needs. People Reached entrepreneurs’ businesses and increase their >2,000,000 impact. Partnership Opportunity SDGs Tackled We are partnering with social entrepreneurs and 1, 5, 8, 10, 12, 17 COVID-19 Response to Date intermediaries that focus on the vulnerable and Regions –– Standing by our social enterprise partners marginalized. Global –– Maintain and adapting current programmes with Contact details intermediaries Åsa Skogström Feldt –– Adding to emergency relief funds via both social entrepreneurs and directly to artisans, e.g. www.ikeasocialentre through Acumen and YSB preneurship.org/
The Impact Assets “Stop the Spread” COVID –– Vetting and due diligence of COVID-focused Response Program is the convergence of impact entrepreneurs for the investment pipeline investing and private-sector response to solving the immediate and evolving needs caused by Relevant Action Agenda items: S-4, C-2, F-1 Role/Function COVID-19, including the devastating health and Supporting Intermediary economic impact on communities of colour in the Top COVID-19 Challenge(s) Entrepreneurs Served United States. The programme harnesses Impact –– Equitable access and distribution of PPE 650+ Assets’ impact investing capacity and Stop the –– Affordable testing models People Reached Spread’s partnership model, connecting and -- catalysing private- and public-sector response to Partnership Opportunity SDGs Tackled COVID-19. To propose funding opportunities, organizations 8,3,17 interested in joining our platform, seeking technical Regions COVID-19 Response to Date assistance and/or contact with companies Primarily focused in the US. Our organization has provided: according to COVID-related needs are invited to Contact details –– Philanthropic and recoverable grant investment visit our website. Adrian Kochan –– Connecting businesses and organizations to spur production and distribution of PPE stopthespread.org (PPE/testing) impactassets.org (other)
The Impact Hub is a global network active in Top COVID-19 Challenge(s) 56 countries, supporting over 17,000 social Our key challenge is to increase support to entrepreneurs and innovators with access to a entrepreneurs given their greater and more diverse multistakeholder impact-driven community, urgent needs, when our own resources are tight, collaborative space, and over 200 incubation and particularly in countries without major government Role/Function accelerated capacity-building programmes, from support. In addition, funders are primarily focused Supporting Intermediary ideation to scale. on supporting ventures in their portfolios, precluding Entrepreneurs Served broader ecosystem support. 17,000 COVID-19 Response to Date People Reached Our organization has provided technical assistance Partnership Opportunity 26 million related to operations or human resources, changing We invite market actors to: SDGs Tackled business models, managing financials, managing –– Support our 56 country-wide mapping of 4, 5, 8, 10, 11, 13 supply chain, and accessing government support or financial and non-financial support Regions other relief mechanisms. –– Develop joint policy influence initiatives on Global circular economy, social entrepreneurship and Contact details Relevant Action Agenda items: S-1, S-4 inclusive business Gabriela Gandel –– Provide support to fragile contexts, i.e. countries with a lower developed impact ecosystem and https://impacthub.net/ little government support
COVID-19 Action Agenda Leaders on the Front Line 56 The International Labour Organization (ILO) Partnership Opportunity is devoted to promoting social justice and –– Promoting international instruments internationally recognized human and labour rights, –– Implementing global programmes to strengthen pursuing its founding mission that social justice is regulatory frameworks supporting the social and essential to universal and lasting peace. solidarity economy Role/Function –– Investing in education Advocacy organization COVID-19 Response to Date –– Knowledge sharing Entrepreneurs Served We have taken action on Action Agenda items –– Engaging in local economic development -- G-1, G-5 People Reached -- Top COVID-19 Challenge(s) SDGs Tackled Since the beginning of the crisis, we have been -- focusing on preserving job creation and on Regions promoting sustainable enterprises supported by Global adequate social protection. Contact details Vic Van Vuuren https://www.ilo.org/
Johnson & Johnson believes good health is the Top COVID-19 Challenge(s) foundation of vibrant lives, thriving communities and Working in locations around the world, the progress. As the world’s largest and most broadly- challenges have been: Role/Function based healthcare company, we are committed to –– Responding to the sheer size and scale of need Corporation using our reach and size for good. We strive to –– Managing the tension to balance COVID Entrepreneurs Served improve access and affordability, create healthier disaster relief grants with maintaining essential 50+ communities, and put a healthy mind, body and health services People Reached environment within reach of everyone, everywhere. -- Partnership Opportunity SDGs Tackled COVID-19 Response to Date We are keen to partner with training institutions, 3, 5, 10, 17 Our organization has provided: financial lenders, impact investors, catalytic Regions –– Emergency grants grant-makers to expand scarce, much-needed Global –– Emergency debt financing financing (concessionary and forgivable loans, Contact details –– Technical assistance related to operations or income share agreements, etc.) Our goal is to Alice Lin Fabiano human resources, and to managing financials increase the pipeline of the health workforce from and representative of the communities the health https://www.jnj.com/ Relevant Action Agenda items: C-1, C-2 workers serve.
Kiva’s mission is to expand financial access to Relevant Action Agenda items: I-1, I-2, I-3, F-1, G-4 enable underserved communities to thrive. Kiva focuses on global, systems-level change in financial Top COVID-19 Challenge(s) Role/Function inclusion by crowdfunding loans and unlocking Assessing needs for our social enterprise portfolio, Funder capital for the underserved, improving the quality delivering a quick turnaround in response and Entrepreneurs Served and cost of financial services and addressing the mobilizing capital. 80 underlying barriers to financial access around the People Reached world. Through Kiva’s work, students can pay for Partnership Opportunity -- tuition, women can start businesses, farmers are Kiva is seeking: SDGs Tackled able to invest in equipment and families can afford –– To connect with other impact investors to bridge 1, 5, 8, 9 needed emergency care. financing needs for social enterprises Regions –– To provide support to fund COVID-19 resilience Global COVID-19 Response to Date loans on www.kiva.org Contact details Kiva has provided: Nicolas Lafaye –– Repayment moratorium for 18 social enterprises –– Emergency liquidity injections https://www.kiva.org –– Technical assistance focused on ensuring COVID-19 resilience
COVID-19 Action Agenda Leaders on the Front Line 57 Latimpacto seeks to foster greater collaboration Relevant Action Agenda items: S-4, S-5 and co-investment along the entire continuum of capital to mobilize social impact capital. It promotes Top COVID-19 Challenge(s) the exchange of knowledge on the most innovative Our main challenge has been to connect investors Role/Function and effective models of social investment, (willing to provide venture philanthropic or highly Supporting Intermediary management and impact measurement. By concessionary and patient forms of capital) with Entrepreneurs Served grouping different capital providers (foundations, social entrepreneurs. -- corporations, investors, family offices, professional People Reached services, academia and public-sector sources), Partnership Opportunity -- Latimpacto strives to unlock more resources We invite you to visit our website for opportunities SDGs Tackled directed at scaling social and environmental to connect and exchange knowledge, practices and 1, 10, 17 solutions in Latin America. identify synergies. Regions Central and South America COVID-19 Response to Date Contact details Latimpacto has been connecting investors with Carolina Suarez social entrepreneurs. http://latimpacto.org/en-us/
The mission of Lex Mundi Pro Bono Foundation COVID-19 Response to Date is to engage Lex Mundi’s global network of more We have been providing: than 150 leading independent law firms in 100+ –– Legal support countries to support and empower those working –– Technical assistance in operations, human Role/Function to bring about high impact, sustainable social and resources and access to government support or Supporting intermediary environmental change. Our flagship service is our other relief mechanisms Entrepreneurs Served legal matchmaking programme, which identifies and –– Mentoring and advocacy 800+ vets the quality of transnational legal projects with People Reached social enterprises for our firms. We also offer legal Relevant Action Agenda items: P-1 to P-5, S-1 to -- mentoring services to help social entrepreneurs think S-5, C-2, C-4, C-5,G-4, G-5 SDGs Tackled through and prioritize their legal issues and become All savvy consumers of pro bono services, create Top COVID-19 Challenge(s) Regions and distribute legal guidance documents, point to Our own funding and staffing are in danger. Global resources to assist organizations as they grow, and Contact details facilitate clinics and live events for the sector. Partnership Opportunity Isis Bous Legal support for social entrepreneurs you are www.lexmundiprobono.org/ supporting as well as the ability to conduct global legal research and support for cross-jurisdictional projects.
Mercy Corps Ventures is a seed-stage impact Top COVID-19 Challenge(s) investment fund designed to help early-stage We have seen a major retreat of investment entrepreneurs overcome barriers to growth by capital, particularly in smaller markets and riskier providing capital and tailored post-investment sectors (i.e. agriculture). We find it necessary to Role/Function support. We make investments ranging from $100K more actively lead bridge rounds or extend capital Funder, Investor to $500K in innovative startups operating in financial ahead of other investors. Simultaneously, our team Entrepreneurs Served services, last-mile distribution, agriculture and youth is represented on the boards of most of our 24 24 employment. Our unique value comes from how portfolio companies, so we have devoted significant People Reached we leverage the Mercy Corps global platform to time and resources to supporting our founders 10 million accelerate the growth of our portfolio companies. through these uncertain times. SDGs Tackled 1, 5, 8, 11 COVID-19 Response to Date Partnership Opportunity Regions Mercy Corps Ventures has provided: We invite market actors to: Africa, Central & South –– Access to emergency financing, including debt –– Share pipeline and co-investment opportunities, America, South-East Asia relief, equity and grants as we intend to accelerate our investments and Contact details –– Technical assistance related to pivoting business technical assistance through this crisis Timothy Edwin Rann models, managing financials and accessing –– Partner on emergency financing facilities across government support or other relief mechanisms the capital spectrum https://www.mercycorps. –– Leverage Mercy Corps’ programming and field org/what-we-do/ventures Relevant Action Agenda item: S-1 office network to scale innovations
COVID-19 Action Agenda Leaders on the Front Line 58 The Motsepe Foundation is an African Relevant Action Agenda items: P-1, P-2, I-1, I-2, philanthropic organization that works with local I-3, all F and C. and international partners to achieve its vision of alleviating poverty and sustainably improving the Top COVID-19 Challenge(s) Role/Function living standards of the poor, the unemployed and –– Sourcing certified PPEs Funder the marginalized people of South Africa, Africa –– Ensuring comprehensive and equitable Entrepreneurs Served and the globe. Our mission is to bring hope and distribution of laptops and online learning 1000+ build a better and brighter future for all people. The material to university students People Reached Foundation works on the basis of “Ubuntu”, the –– Downscaling of staff and funding from major 1 million+ African philosophy of giving and caring for your partners due to lockdown SDGs Tackled neighbour and other members of your community. 1; 3; 4; 5; 6; 8; 10; 17 Partnership Opportunity Regions COVID-19 Response to Date We are supporting initiatives in our core areas of Africa, USA –– Providing PPEs and sanitizers to front-line activity on an ongoing basis. For more information, Contact details health workers see our website: www.motsepefoundation.org. Imrhan Paruk –– Distributing hand sanitizers and disinfectants to Nebo Legoabe poor and vulnerable communities –– Supplying water-tanks, borehole water and motsepefoundation.org sanitary facilities to poor rural and urban communities –– Building additional classrooms, computer centres and laboratories in low-resource schools, and procuring laptops for students to study online –– Promoting available mental health services and setting up mental health webinars
NESsT invests in social enterprises that generate Relevant Action Agenda items: I-1, I-2, I-3 dignified jobs for people most in need. We believe that all people deserve an opportunity to earn a Top COVID-19 Challenge(s) decent livelihood and that social entrepreneurship Limited bandwidth to fundraise for emergency Role/Function led by resilient and visionary entrepreneurs can capital for the portfolio; balancing between working Supporting Intermediary make this possible. NESsT selects early-stage to support entrepreneurs and supporting staff; Entrepreneurs Served enterprises that are committed to empowering pivoting our own technical assistance to a full virtual 30 low-income communities to confront barriers platform. People Reached and overcome poverty, thus transforming lives. 3385 We accompany these social entrepreneurs with Partnership Opportunity SDGs Tackled business services and patient capital, positioning We are inviting everyone to use our self-assessment 4, 8, 10 them for high growth and impact. And we ensure Talent tool for social entrepreneurs. Regions that they have the tools to measure their social, South America, Eastern financial and environmental impact. We invite funders to support our Relief fund. 100% Europe of your contribution to the NESsT COVID-19 Relief Contact details COVID-19 Response to Date Fund will reach a high-impact social enterprise that Filip Wadowski NESsT has provided: is working to ensure job security and paid benefits –– Emergency grants to their employees during this time of crisis. https://www.nesst.org/ –– Emergency debt financing –– Technical assistance related to pivoting business models, managing financials and accessing government support or other relief mechanisms
COVID-19 Action Agenda Leaders on the Front Line 59 Nonprofit Finance Fund (NFF) works toward Relevant Action Agenda item: F-1 a more equitable, responsive and valued social sector. We provide financing and consulting to Top COVID-19 Challenge(s) help nonprofits and their funders better connect We are seeking flexible funding to continue serving money to mission results. NFF is a community our clients and to advance our strategy of shifting Role/Function development financial institution (CDFI) applying resources to community-centred organizations led Supporting Intermediary 40 years of experience to today’s toughest by and serving people of colour. Entrepreneurs Served social challenges, and we share what we learn 175 to speed progress. Partnership Opportunity People Reached Reach out to us for any technical assistance or 2835 COVID-19 Response to Date borrowing needs for non-profit clients, particularly SDGs Tackled Our organization has provided: community-centred organizations led by and 11, 16, 17 serving people of colour. Regions –– Emergency grants North America –– Emergency debt financing Additionally, we are working on bringing our model Contact details –– Technical assistance related to pivoting business of loan funds similar to our work with the NYC Ketsia Saint-Armand models, managing financial and accessing COVID-19 Response & Impact Fund and would government support or other relief mechanisms welcome opportunities to collaborate. https://nff.org/
Open Road Alliance was founded in 2012 with an Top COVID-19 Challenge(s) ambitious goal: to help the social sector manage We believe that the uncertainty that we are all and weather the unexpected risks that threaten to learning to live with is here to stay. As we refine derail their impact. Since then, we have become our proven processes for preserving impact while Role/Function the market leader in social sector bridge funding, managing financial risk, we continue to combine our Funder providing over $45 million in one-time grants commitment to investors with the urgency to keep Entrepreneurs Served and loans to non-profits and social enterprises dollars moving to those most in need. 245+ experiencing unexpected, external roadblocks, People Reached helping to keep their impact on track. Our biggest challenge: not enough time in the day. 1 million+ SDGs Tackled COVID-19 Response to Date Partnership Opportunity All From March to June 2020, Open Road offered The Open Road Impact Fund, now open to outside Regions COVID-specific grant and loan programmes. In investors, invests in social enterprises that are Global line with our traditional criteria, we continue to offer experiencing an unexpected, externally caused cash Contact details grants and loans to social-sector organizations crunch that our bridge loans help to resolve, keeping Caroline Bressan affected by COVID and its economic repercussions. impact on track and accelerating toward scale. openroadalliance.org/ Relevant Action Agenda items: I-2, F-2 Open Road also shares a tailored a grant pipeline with impact-driven funding peers.
Rippleworks brings the practical support Top COVID-19 Challenge(s) entrepreneurs need to scale faster and improve We struggle with limited bandwidth on our team more lives. Through short-term, high-impact and have subsequently needed to hire faster than Role/Function projects, social ventures partner with an anticipated to support the demand. Supporting intermediary experienced start-up executive to tackle top Entrepreneurs Served operational challenges. We chose not to deploy capital to our portfolio (as 150 none of our 12 investments needed it) and instead People Reached COVID-19 Response to Date have focused on seeking out new investment -- Rippleworks has provided: pipelines during the pandemic, as well as increasing SDGs Tackled –– Technical assistance in the form of four-month our ability to run more technical assistance projects. N/A projects Regions –– Expert 1:1 support in addressing questions by Partnership Opportunity Africa, Asia, Latin America, entrepreneurs We invite market actors to refer to us portfolio US –– Webinars on high-impact topics companies that could use operational support Contact details in finance, marketing, sales, HR, data science, Sara Johnson Relevant Action Agenda items: S-1, S-3 technology or other functional verticals.
COVID-19 Action Agenda Leaders on the Front Line 60 Root Capital — Rural agricultural businesses Top COVID-19 Challenge(s) such as cooperatives, farmer associations and During the most acute phases of the pandemic, agro-processors have the power to transform we need to ensure that families can still eat, grow Role/Function vulnerable smallholder farmers’ livelihoods and food for others and earn income. In designing our Supporting Intermediary, their communities. They often fail, however, to response, Root Capital is prioritizing measures that Investor reach their potential because they are too large will help clients both withstand the present crisis, Entrepreneurs Served for philanthropic microcredit and too small for but also ‘bounce forward’ to growth and success. 137 commercial lenders. Our mission is to invest in Further, securing funding will remain a challenge, People Reached the growth of these businesses by providing both particularly for 1. debt relief and 2. preserving the 498,000 financing and financial advisory services (“credit + organizational resilience of Root Capital. SDGs Tackled capacity”). 1, 2, 5 Partnership Opportunity Regions COVID-19 Response to Date Limiting the vulnerability of agricultural businesses Central and South America, Root Capital has provided: to this crisis, we harness their potential as platforms East and West Africa, –– Emergency grants through which to assist communities. We therefore South-East Asia –– Emergency debt financing seek to mobilize partners to support us as we 1. Contact details –– Technical assistance related to managing provide flexible funding to ensure immediate liquidity William Foote financials and the supply chain (for more than and support of the most pressing community needs; 10% of portfolio) 2. implement virtual TA on business continuity https://rootcapital.org/ planning and crisis management; 3. build our Relevant Action Agenda items: I-3, S-3 organizational resilience to continue our core work.
Salesforce.org is the social impact centre Relevant Action Agenda items: C-1 to C-5 of Salesforce focused on partnering with the global community to tackle the world’s greatest Top COVID-19 Challenge(s) problems. We are a business unit dedicated to We strive to serve all our stakeholders during the creating solutions for non-profit, educational and pandemic — employees, customers, partners, Role/Function philanthropic organizations so they can have greater healthcare workers, first responders and the Corporation impact. Operating within Salesforce increases broader community. Entrepreneurs Served our capacity to innovate on top of the leading -- CRM platform, to channel the pro-bono power –– Investing in the health and safety of our employees People Reached of 45,000+ employees, and to inspire Salesforce –– Providing grants and financial flexibility to our -- customers and partners to join our global customers SDGs Tackled movement for good. –– Delivering on innovations such as Work.com All and Salesforce Care Regions COVID-19 Response to Date –– Giving back through pro bono / volunteer hours, Global Salesforce has provided: grants and PPE Contact details –– Emergency grants Samira Khan –– Technical assistance related to operations and Partnership Opportunity human resources, and to managing supply chains –– Free/discounted licenses and products for non- https://www.salesforce.org/ –– Free access to products profits and social enterprises (Power of Us Hub) –– Solutions for healthcare systems and small –– Pro bono support for Salesforce users businesses –– Volunteer assistance (technical and non- –– AppExchange COVID-19 Resource Center technical) for Salesforce users and non-users –– Access to trusted COVID-19 global data via –– Opportunities for joint learning, awareness Tableau building, co-design and co-innovation
COVID-19 Action Agenda Leaders on the Front Line 61 SAP innovations help 440,000 customers worldwide Relevant Action Agenda items: C-3, C-4, C-5 work together more efficiently and use business insight more effectively. SAP has worked for more Top COVID-19 Challenge(s) Role/Function than a decade to build trust and add value to the The key challenge for us is to scale our capacity- Corporation social enterprise sector. Our efforts in inclusive and building efforts to social enterprises. This was Entrepreneurs Served social entrepreneurship range from partnerships already difficult in a pre-COVID world but is even -- and programmes that focus on inspiring early- more difficult now that almost all support needs to People Reached stage innovation and new ventures, to accelerating happen virtually and remotely. 950,000 and scaling mature social enterprises. We engage SDGs Tackled a robust pipeline of social entrepreneurship Partnership Opportunity 4, 5, 8, 12, 13, 17 organizations, accelerators, incubators, as well as Non-profit organization Moving Worlds launched a Regions direct partnerships with social enterprises. revenue growth programme for social enterprises, Global S-GRID, in partnership with SAP to ensure a Contact details COVID-19 Response to date sustainable COVID-19 recovery. It will help social Alexandra Van der Ploeg SAP has provided: entrepreneurs build the skills and capacity needed –– Emergency grants to plug their social or environmental-positive https://www.sap.com/ –– Technical assistance related to operations or solutions into global value chains and international corporate/en/purpose/ human resources, pivoting business models, corporations via training, peer-based support and social-entrepreneurship.html managing financials and the supply chain pro bono consulting.
The Schwab Foundation for Social Relevant Action Agenda items: S1, S2, S3, S4, S5 Entrepreneurship has for 20 years supported the world’s leading social entrepreneurs in their efforts Top COVID-19 Challenge(s) to create a more just, equitable and sustainable Schwab Foundation entrepreneurs flagged a Role/Function world. The Foundation believes that social number of challenges to their work: Supporting Intermediary entrepreneurs and intrapreneurs are key to tackling –– Ability to keep their organizations running, Entrepreneurs Served global challenges, safeguarding the well-being despite declining revenues 410 of the most vulnerable, and improving the state –– Need for new skills and strategic pivots, without People Reached of the world. Our goal is to highlight and expand the capacity to do so 622 Million leading models of social innovation and to work –– Urgency of calling for a new economic reality, SDGs Tackled with social entrepreneurs and their ecosystem to while also keeping their organizations afloat All do so effectively. The Schwab Foundation Annual Regions Awards programme identifies leading innovators and As a Foundation, we have done our utmost to do Global supports their involvement in World Economic Forum more and be helpful to all, while keeping our current Contact details events and platforms. and longer-term goals and activities squarely on the Francois Bonnici agenda. COVID-19 Response to Date www.schwabfound.org/ Recognizing the unprecedented scale of the Partnership Opportunity COVID-19 pandemic, the Foundation has: We recognize that there are thousands of –– Been in constant communication with our networks, intermediaries, corporations, investors, 500-strong Schwab Awardee community - funders and government institutions that share our offering support where possible care for and commitment to social entrepreneurs, –– Initiated the COVID-19 Response Alliance for working every day to support the most vulnerable. Social Entrepreneurs (author of this report) Through the COVID-19 Response Alliance, we –– Continuously advocated for social entrepreneurs invite social entrepreneurs to share their impact through the Forum’s COVID Action Platform, stories and field actors to deliver on the COVID-19 community and media Action Agenda with us.
COVID-19 Action Agenda Leaders on the Front Line 62 Shell Foundation (SF) is a UK-registered charity, Relevant Action Agenda items: F-1, F-2, F-3 founded by Shell in 2000, that creates and scales Role/Function business solutions to enhance access to energy Top COVID-19 Challenge(s) Funder and affordable transport. Our purpose is to serve –– Business continuity and liquidity challenges Entrepreneurs Served the low-income communities most affected by faced by portfolio companies, and the ability to 67 (organizations) these issues. We use grant funding and non-grant realign strategy to changing market conditions People Reached instruments as appropriate, alongside extensive –– Slowdown of funding into the sector is a serious 171 million business support, and allocate one-third of our issue SDGs Tackled budget to build a stronger enabling environment for –– Ability of companies to raise capital (outside of 7 social enterprises in target countries. current lenders) will be a major challenge that Regions calls for investor action Africa, India, Asia COVID-19 Response to Date –– The well-being of management teams dealing Contact details Shell Foundation has provided: with the crisis Nicholas Jones –– Business resilience funding and additional non- financial support for portfolio companies Partnership Opportunity www.shellfoundation.org –– First-loss funding to a sector relief vehicle for We form long-term partnerships with a small off-grid energy providers number of potential game-changers: pioneers of –– Commissioning research to understand the new products and services that deliver social and implications of COVID-19 on SDG7 environmental benefit to low-income consumers. –– Support for our Partners to ensure safeguarding remains a priority at a time where risks are We work to identify market failures behind global heightened challenges and use our networks to find potential partners.
The Skoll Foundation seeks to catalyse Top COVID-19 Challenge(s) transformational social change by investing in, Many Skoll Awardees have been hampered in connecting and championing social entrepreneurs their work by lockdowns and other measures, and other change leaders who together advance resulting in programmatic setbacks. Many also face equitable solutions to the world’s most pressing financial challenges (e.g. shortfalls in revenue or Role/Function problems. donor funding) which have led to difficult decisions Funder such as cutting personnel costs and pivoting Entrepreneurs Served COVID Response-19 to Date programmes. These challenges are compounded 116 (organizations) Skoll Foundation has provided: by recent natural disasters (e.g. tropical storms) People Reached –– Emergency grant support to Skoll Awardees and the fact that some Awardee staff contracted -- that have been adversely impacted by the COVID-19. SDGs Tackled pandemic and/or are directly responding to it All –– Grants to other change leaders undertaking Partnership Opportunity Regions COVID-19 response in Africa, Latin America, We invite change leaders to share their COVID-19 Global South Asia and the United States responses and partnership opportunities at: https:// Contact details skoll.org/connect. The Foundation will get in touch Claire Wathen Relevant Action Agenda items: F-1 to F-5 promptly. www.skollfoundation.org/
COVID-19 Action Agenda Leaders on the Front Line 63 The Sorenson Impact Foundation (SIF) invests Relevant Action Agenda items: P-4, P-5, S-2 in early-stage companies that are developing innovative, scalable solutions for underserved Top COVID-19 Challenge(s) Role/Function communities around the world. SIF companies The need for capital for social entrepreneurs is Funder operate across five continents and have impacted eclipsing the capacity of single organizations, so Entrepreneurs Served over 100 million lives worldwide, the majority collaborating as an investor community and pooling 55 of which are classified as low-income or base- capital to activate solutions are required and to be People Reached of-pyramid. As an impact investor, SIF is also scaled fast enough to respond to the current crisis 100 million dedicated to building the field of impact investing and the concurrent economic impact. SDGs Tackled and social entrepreneurship through its annual grant 1, 3, 8 programme. Partnership Opportunity Regions SIF is in the process of using Village Capital’s Global COVID-19 Response to Date Abaca platform to target potential co-investors Contact details SIF has made several direct investments in social for the companies in which we invest. We invite Meredith Shields entrepreneurs globally throughout the COVID-19 other impact investors to join us on the platform to pandemic and has also been committed to share their own portfolio companies and pipelines, sorensonimpactfoundation. promoting collaboration in the broader impact so that we can work together to advance social org/ investor arena to spur more investment activity. SIF entrepreneurs playing vital roles in communities was an early supporter and funder of Village Capital’s worldwide. COVID-19 Coalition and the GIIN R3 Coalition.
Thomson Reuters Foundation (TRF) is the Relevant Action Agenda items: S-1, S-2, S-4, C-4 corporate foundation of Thomson Reuters, the global news and information services company. Top COVID-19 Challenge(s) We work to advance media freedom, foster more Our biggest challenge has been to deliver our inclusive economies and promote human rights. programming and services virtually to continue Through news, media development, free legal to support our beneficiaries and meet grant Role/Function assistance and convening initiatives, we combine commitments. Additionally, we needed to swiftly Supporting Intermediary our services to drive systemic change. We use understand our social enterprise members’ issues to Entrepreneurs Served the combined power of journalism and the law to launch a response adequately matching their needs. 1250+ (TrustLaw network) build global awareness of critical issues faced by People Reached humanity, inspire collective leadership and help Partnership Opportunity -- shape a prosperous world. Through TrustLaw, the global pro bono legal SDGs Tackled programme of TRF, we can provide social All COVID-19 Response to Date entrepreneurs with access to legal support, Regions Thomson Reuters Foundation has: research, tools and webinars to help them navigate Global –– Upskilled reporters covering the health crisis in legal issues that could arise during the pandemic. Contact details regions braced for the worst Giulia Corinaldi –– Provided legal resources for NGOs and social Through TRF’s dedicated Inclusive Economies enterprises vertical, our journalists cover social https://www.trust.org/ –– Provided extensive news coverage of the impact entrepreneurship. We welcome collaborations with of the coronavirus other organizations to grow this coverage globally.
COVID-19 Action Agenda Leaders on the Front Line 64 UNDP’s Business Call to Action is a global Relevant Action Agenda items: P-1, P-5, S-1, inclusive business platform advancing core S-3, S-4, S-5 business solutions for development to accelerate progress towards the Sustainable Development Top COVID-19 Challenge(s) Goals (SDGs). We challenge companies to develop Raising long-term funding to support our members’ Role/Function inclusive business models that engage people business continuity for delivering basic services in Government / Supporting at the base of the economic pyramid (BoP). Our fragile and least-developed countries. Intermediary members are market leaders with a track record of Entrepreneurs Served developing innovative, inclusive business models Strengthening business resilience to overcome the 101 (organizations) reaching low-income communities and contributing pandemic and its adverse social and economic impact. People Reached to global development. 200 million + Partnership Opportunity SDGs Tackled COVID-19 Response to Date We invite market actors to connect with us to share: 1, 10, 17 Businss Call to Action has: –– Innovative business models that tackle poverty Regions –– Published guidelines on effective COVID-19 and inequality Global responses for companies engaging with low- –– Solutions that can support governments with Contact details income populations COVID-19 responses Luciana Aguiar –– Set up an online platform for SMEs to help –– Partnership opportunities with organizations that overcome challenges brought by COVID-19, can create value for supporting entrepreneurs businesscalltoaction.org/ reducing information asymmetries and intrapreneurs in low-income markets –– Introduced webinars on business resilience, facilitating peer-to-peer learning
SDG Impact, a global initiative of the United Relevant Action Agenda items: G-2, G-4, G-5 Nations Development Programme (UNDP), was launched in September 2018 with the goal of Top COVID-19 Challenge(s) helping to eliminate barriers and drive more The global economic recession and financial turmoil investment capital at scale for the achievement of from COVID-19 risk derailing SDG achievement. Role/Function the SDGs. SDG Impact is providing investors and Even before the pandemic, the 2020 Financing Government / Supporting businesses with needed clarity, insight, and tools for Sustainable Development Report (FSDR) of Intermediary to support and authenticate their contributions. the Inter-agency Task Force noted that there was Entrepreneurs Served SDG Impact works on three pillars to address the backsliding in many areas. The heavy losses and -- principal barriers that investors have identified as intense volatility of markets due to the crisis hamper People Reached being key: 1. Impact management, which includes activity even more. -- the development of SDG impact standards and SDGs Tackled seals; 2. Impact intelligence, i.e., market intelligence Partnership Opportunity -- on the SDG-impact, risks and return profiles of SDG Impact Standards for enterprises is slated for Regions concrete investments including SDG investor launch in September 2020. For more information -- maps; and 3. Impact facilitation, i.e., strengthening on how you can contribute, please visit our site or Contact details of national investor and private-public networks contact us at [email protected]. Elizabeth Boggs-Davidsen to create deals and capitalize on SDG-aligned investment opportunities. https://sdgimpact.undp.org/ COVID-19 Response to Date Trillions of dollars are being released to recover from the impacts of COVID-19. The SDG Impact initiative is developing tools to ensure investment capital is able to flow to the right destinations and investment opportunities, and scaled and authentic investment practices.
COVID-19 Action Agenda Leaders on the Front Line 65 The United States African Development COVID-19 Response to Date Foundation (USADF) is an independent US USADF has been providing : government agency established by Congress –– Emergency grants to invest in African grassroots organizations, –– Technical assistance related to operations or entrepreneurs and small and medium-sized human resources, pivoting business models, Role/Function enterprises. USADF investments promote local managing financials and the supply chain Funder (Public Sector) economic development by increasing incomes, Entrepreneurs Served revenues and jobs, and creating pathways to Relevant Action Agenda item: F-3 300 prosperity for marginalized populations and People Reached underserved communities. Using a community-led Top COVID-19 Challenge(s) 20,000 development approach, USADF provides seed capital Protecting previously made investments in our SDGs Tackled and local project management assistance improving active and non-active portfolios. 2, 3, 5, 6, 7, 8, 17 lives and impacting livelihoods while addressing some Regions of Africa’s biggest challenges around food insecurity, Partnership Opportunity Sub-Saharan Africa insufficient energy access and unemployment, We are particularly seeking blended finance Contact details particularly among women and youth. partnership opportunities, through which USADF Michele Rivard would employ its unique development model to provide grant funding alongside other investments. www.usadf.gov/ USADF is in multiple such partnerships, particularly in the off-grid energy sector.
The Center for Innovation and Impact (CII) in Relevant Action Agenda items: F-1, F-4 the USAID Bureau for Global Health encourages business-minded approaches and accelerates Top COVID-19 Challenge(s) impact against some of the world’s most important Our greatest challenge is to identify the most effective health issues. The Center invests seed capital in way to assist given the great uncertainty, to focus our Role/Function the most promising ideas and applies a rigorous, support where it aligns with our current portfolio and Funder market-oriented approach to reduce the time it focus geographies, and to identify when and how Entrepreneurs Served takes to transform discoveries in the lab to impact investment capital is best used (as compared to grant -- on the ground. resources, which are far more limited). People Reached -- COVID-19 Response to Date Partnership Opportunity SDGs Tackled We have: We are most interested in partnering with other 3,5,6,17 –– Shaped a plan for a $20 million COVID-19 Race funders seeking to support the COVID-19 Race to Regions to Market Grand Challenge to identify and scale Market Grand Challenge. Global late-stage innovations Contact details –– Curated a list of impact-ready innovations for Ankunda Kariisa COVID-19, including landscape analysis and assessment of 200+ responses from Innovation www.usaid.gov/cii Request for Innovation –– Provided financial support to several innovators in our network
Village Capital supports seed stage, impact-driven Relevant Action Agenda items: P-1, P-2, P-5, I-4, start-ups around the world. Since 2009, our team S-2, S-3 has supported more than 1000 entrepreneurs in Role/Function 28 countries through accelerator programmes, Top COVID-19 Challenge(s) Supporting Intermediary workshops and forums. Our alumni companies Funding to provide more robust support for our Entrepreneurs Served have raised more than $4 billion in follow on capital. programme alumni — most of our capital is 1100 In addition, our affiliated fund, Vila Investments has highly restricted and directed to supporting new People Reached invested in 110 peer-selected start-ups from these entrepreneurs. We would like to extend and have 41 million accelerator programmes. more structured programming and resources for SDGs Tackled our alumni companies, which have largely been 1, 3, 4, 5, 7, 8, 9, 10 COVID-19 Response to Date self-funded to date. Regions Village Capital has been providing: Americas, Middle East, –– Additional equity financing Partnership Opportunity South Asia, Sub-Saharan –– Technical assistance related to pivoting business We are most keen to highlight the Abaca COVID Africa, Western Europe models, managing financials, accessing Response Pipeline to connect entrepreneurs and Contact details government support or other relief mechanisms investors, as shared on a previous Alliance call. Allie Burns https://vilcap.com/
COVID-19 Action Agenda Leaders on the Front Line 66 Yunus Social Business (YSB) believes in the Relevant Action Agenda items: P-1, P-5, I-2, S-1, S3 power of business to end poverty. Our work offers a dignified hand out of poverty to millions of people Top COVID-19 Challenge(s) Role/Function through Social Business - a model pioneered Raising long-term recovery funding (grant capital) in Supporting Intermediary, by our Co-Founder, Nobel Peace Prize Laureate 2021 and beyond to support our social businesses Investor Muhammad Yunus. YSB runs philanthropic funds in dealing with a potential global recession and slow Entrepreneurs Served for social businesses and a venture builder for recovery. 66 corporate social businesses. YSB is headquartered People Reached in Germany with investment teams in Brazil, Partnership Opportunity 13 million Colombia, India, Kenya and Uganda. Our social Partnering with other intermediaries to raise SDGs Tackled businesses serve over 13 million people in emerging recovery funding for social businesses serving the 1, 3, 4, 6, 7, 13 and developing countries. bottom of the pyramid in emerging economies and Regions coordinated learnings through recovery response. South America, East Africa, COVID-19 Response to Date South Asia YSB has been providing: Contact details –– Emergency payroll grants so social businesses can Saskia Bruysten keep their teams employed and recover more easily –– Technical assistance related to operations or human resources, managing financials and the supply chain
60_decibels is a tech-enabled, social impact Relevant Action Agenda item: P-1 measurement and customer intelligence company. Using a Lean Data approach, 60_decibels Top COVID-19 Challenge(s) Role/Function collects social impact and customer feedback 60_decibels had to pivot quickly to support data Corporation data through phone surveys and other methods. gathering to better understand the impact of Entrepreneurs Served 250+ trained researchers in 30+ countries speak COVID-19. 300 directly to customers, employees or beneficiaries to People Reached understand their experience. Partnership Opportunity -- We invite market actors to join us in broadening SDGs Tackled COVID-19 Response to Date data-gathering processes during COVID-19 to be All Our organization has implemented a global rollout able to respond to customers appropriately. Regions of the measurement of customer-level impact of Global COVID-19 in 30 countries. Contact details Sasha Dichter www.60decibels.com/
COVID-19 Action Agenda Leaders on the Front Line 67 Acknowledgements
The World Economic Forum thanks the members World Economic Forum of the Alliance as well as other leading academic, industry, NGO and government agency experts who provided invaluable insights and perspectives. Francois Bonnici Head, Schwab Foundation for Social Entrepreneurship
This report could not have been written without the Carolien de Bruin kind support of COVID Response Alliance Lead, Schwab Foundation for Social Entrepreneurship
Marie Penelope Nezurugo Project Specialist, Schwab Foundation for Social Entrepreneurship
Layout
Albert Badia, Graphic Designer, World Economic The GHR Foundation exists to be of service to Forum people and their limitless potential for good. The COVID Response Alliance for Social Entrepreneurs David Bustamante, Lead, Marketing Design, World is designed to do just that. Economic Forum
The Forum also acknowledges the valuable contributions of the following individuals in the development of this document: Yunus Social Business
Saskia Bruysten Co-Founder and Chief Executive Officer
Lorelei Logel-Demoulin Project Manager
Daniel Nowack Managing Director
Akhil Pawar Project Manager
COVID-19 Action Agenda Leaders on the Front Line 68 Endnotes
1. World Bank, “Projected poverty impacts of Poverty Falling Too Slowly”, Press Release, 25 COVID-19 (coronavirus)”, 8 June 2020, https:// September 2019, https://www.un.org/press/ www.worldbank.org/en/topic/poverty/brief/ en/2019/dsgsm1340.doc.htm. projected-poverty-impacts-of-COVID-19. 8. Collaborative for Frontier Finance, “Emerging 2. According to a COVID Response Alliance for Market Small and Growing Business Capital Social Entrepreneurs 2020 analysis. Provider’s Survey Results”, June 2020, https:// www.frontierfinance.org/s/Sub-Sahara-Impact- 3. Roser, Max, et al., “Coronavirus Pandemic Capital-Providers-COVID-19-Survey-Review_ (COVID-19)”, OurWorldInData.org, 18 August June-2020.pdf. 2020, https://ourworldindata.org/coronavirus. 9. Laker, Benjamin, “Nonprofits Need $60 Billion 4. Organisation for Economic Co-operation and To Avoid Collapsing From Coronavirus”, Forbes, Development (OECD), “OECD Economic 15 April 2020, https://www.forbes.com/sites/ Outlook, June 2020: The world economy on benjaminlaker/2020/04/15/nonprofits-at- a tightrope”, 2020, http://www.oecd.org/ breaking-point-60-billion-urgently-needed-to- economic-outlook/june-2020/#. survive.
5. Gerszon Mahler, Daniel, et al., “Updated 10. Harold, Jacob, “How many nonprofits will shut estimates of the impact of COVID-19 on their doors?”, Candid, 15 July 2020, https:// global poverty”, World Bank Blogs, 8 June blog.candid.org/post/how-many-nonprofits-will- 2020, https://blogs.worldbank.org/opendata/ shut-their-doors. updated-estimates-impact-covid-19-global- poverty#:~:text=Under%20the%20baseline%20 11. Global Impact Investing Network (GIIN), The scenario%20we,comes%20with%20even%20 Impact Investing Market in the COVID-19 more%20uncertainty. Context: An Overview, June 2020, https:// thegiin.org/assets/The%20Impact%20 6. Schwab Foundation for Social Entrepreneurship, Investing%20Market%20in%20the%20 Two Decades of Impact, 2020 Impact Report, COVID19%20Context_An%20Overview.pdf. 2020, http://www3.weforum.org/docs/WEF_ Schwab_Foundation_2020_Impact_Report.pdf. 12. Ibid.
7. United Nations, “Citing $2.5 Trillion Annual 13. Ibid. Financing Gap during SDG Business Forum Event, Deputy Secretary-General Says
COVID-19 Action Agenda Leaders on the Front Line 69 The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation.
The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas.
World Economic Forum 91–93 route de la Capite CH-1223 Cologny/Geneva Switzerland Tel.: +41 (0) 22 869 1212 Fax: +41 (0) 22 786 2744 [email protected] www.weforum.org