Socent and impact investing career discussion aei sz sciences po class 2015

1. L E C T U R E 6 –
S O C I A L I M PA C T C A R E E R S , T H E E C O S Y S T E M & V A L U E C H A I N
Sciences Po Paris | Paris, France
Social Entrepreneurship and Impact Investing | Spring 2015 | Master in Economics and Business
Instructors:
• Ali El Idrissi*, J.P. Morgan Social Finance
• Soushiant Zanganehpour*, Tribeca Impact Partners (formerly Skoll Centre for Social Entrepreneurship)
Course Link: http://formation.sciences-po.fr/en/enseignement/2014/oebu/2030a
* Adjunct Professors/Lecturers
Lecture 6: Social Impact Career, The Ecosystem & Value Chain /1 10
Paris School of International Affairs
Type to enter text

2. Social Entrepreneurship and Impact Investing | Spring 2015 | Master in Economics and Business
Ali El Idrissi | Soushiant Zanganehpour
Social Impact Ecosystem & Value Chain
Banks/Funds/
Financial Institutions
New Initiatives &
Ventures
Existing Social
Businesses
Consultancy/Advisory
• MFI’s, DFI’s
• Venture
Philanthropy
(Foundations)
• Social Venture
Capital Funds
• Impact Investing
Funds
• Microfinance
Venture Scaling
Source: S.Zanganehpour, 2014
Commercial
Investment
Supply
Intermediaries
Demand
Venture Creation
Field Building Activities:
Academic Centres, Seminars, Conferences, Networks, Media; Business Plan Competitions; Awards and Lists (Forbes, etc.);
• Management and
Strategy
Consultancies
• Research Institutes
• Financial Advisors
• Technical Assistance
Providers
• Start-up Angels
Supporters
• Business plan
competitions
• Incubators/
Accelerators
Government Support, Policy, Think Tanks
Research
Public Goods
Support req’d:
• Finance
• Corporate
Governance
• Market Entry
• Product Innovation
Philanthropy
Venture
Philanthropy
• Venture Philanthropy
(Foundations)
• Social Venture Capital
Funds
• Impact Investing
Funds
• Foundations
• HNWI

3. Social Entrepreneurship and Impact Investing | Spring 2015 | Master in Economics and Business
Ali El Idrissi | Soushiant Zanganehpour
Impact Pyramid – Value Chain
SOCIALENTREPRENEURSHIPANDIMPACTINVESTING
Venture Scaling
Government Support, Policy, Think Tanks
Field Building Activities:
• Academic Centres, Seminars, Conferences, Networks
• Media, Awards and Lists (Forbes, etc.)
• Business Plan Competitions,
Advisory
- Research Institutes
- Consulting firms
- Intermediaries
Accelerators / Incubators
Philanthropy
Venture Philanthropy & Investment
• Venture Philanthropy Funds, Foundations
• Impact Investors
• Banks, Funds
• Social Venture Capital
• DFI’s, MFI’s, Microfinance
Venture
&
Initiative Creation
Corporate Shared
Value & Venture Capital
Source: S.Zanganehpour, 2014
Research

4. Social Entrepreneurship and Impact Investing | Spring 2015 | Master in Economics and Business
Ali El Idrissi | Soushiant Zanganehpour
Our Top 10 Golden Rules
/2 10
1. Early on, think skills, not themes. Work on building your skills step after step,
instead of specialising in a particular social topic
2. Don’t wait for perfect. Prepare to create opportunities for yourself and find your
way through this sector, even if your first entry point isn’t ideal (e.g. an internship)
3. Prepare thoroughly. Do rigorous homework and understand the eco-system in
granular detail to understand where you want to go; it’ll save you a lot of precious
time and energy in later steps
4. Discriminate carefully. Know where to find information (GIIN website, newsletters
from leading institutions, etc.) in order to save time
5. Network or perish. No networking = not working.
6. Have a long term perspective
7. Don’t be transactional. Be genuine and committed not opportunistic
8. Build an understanding of underlying trends and fundamentals. This not only
demonstrates your analytical skills but helps you anticipate how the field is evolving,
where new opportunities will develop and what skills will be required to develop
9. Help potential employers by clearly and succinctly describing how your profile,
beyond your CV, fits the space
10.Have a vision and be bold in your ideas.

5. Social Entrepreneurship and Impact Investing | Spring 2015 | Master in Economics and Business
Ali El Idrissi | Soushiant Zanganehpour
Government & Public Sector
Multilaterals
• World Bank
• European Investment Bank
• Inter American Development Bank
• Asian Development Bank
• African Development Bank
Departments & Initiatives
• UK Cabinet Office Social Investment and Finance Tea
• C40
• White House Office of Social Innovation
Consultancies, Intermediaries, Think Tanks:
• FutureGov
• Participle
• Institute for Gov
• Independent Diplomat
• New Economics Foundation (nef)
• Carbon Trust
• Carbon War Room
• Carbon Tracker
/3 10
Overview
Roles in this space mainly exist around policy initiatives that support social investments. The main tasks
in such roles would typically include researching, mapping, writing policy descriptions, white papers,
briefings or recommendation papers. Roles may not require specific background but interests must be
focused on the policy aspect, preferably with some policy background and strong understanding of the
policymaking mechanisms in the particular country or region, and a strong understanding of various
players in the ecosystem
Advice: Develop detailed understanding about where government has played a key role in supporting
the sector (e.g. UK as a leader in the field) and some of the recent global initiatives (e.g. G8 social
investment taskforce)
Example: http://iipcollaborative.org/wp-content/uploads/media/Cabinet-Office-Social-Investment-and-
Finance-Team-internship-opportunity.pdf

6. Social Entrepreneurship and Impact Investing | Spring 2015 | Master in Economics and Business
Ali El Idrissi | Soushiant Zanganehpour
International Development
Government
• UK DFID
• Sweden’s SIDA
• Canada’s CIDA
• US AID
• US State Department
Development Finance Institutions (DFI’s)
• UK DFID
• OPIC
• CDC
• FMO
• KFW
• DEG
• Proparco
• Swedfund
• Norfund
• Finfund
Think tanks
• World Bank – CGAP
• Impact Investing Policy Collaborative
• Institute for Poverty Action
• International Institute for Sustainable
Development
• Overseas Development Institute
• - OECD
Economic Development Consultancies
• Coffey
• Adam Smith International
• Nathan & Associates
• DAI
• GHK
• iMC
• Arup
• Oxford Innovation
/4 10
Overview
Roles could be more varied across research, investment and consulting type roles. Entry level positions
are available across these categories. Investment is mostly at the Development Finance Institutions’ level
and some selective programs exist at institutions like the IFC. Such roles would probably require a strong
analytical background especially for investment facing positions and an understanding of financial tools.
Most investment roles still require a couple of years of relevant experience
Advice: understand the difference between the development aid agencies and the development finance
institutions that are more private sector focused, and understand the difference in roles at different
institutions - development agencies do not typically make investments but can provide other financial
support like guarantees but this is managed by more senior-level professionals. If your objective is to be
in the investment space, consider trying to gain a first role in a highly analytical position in mainstream
finance or consulting. That will increase your chances of a good placement into the investment space.
Example: http://erecruit.me/microfinance-analyst-recruitment/

7. Social Entrepreneurship and Impact Investing | Spring 2015 | Master in Economics and Business
Ali El Idrissi | Soushiant Zanganehpour
Philanthropy & Foundations
Venture Philanthropy
• ADM Capital Foundation
• Gates Foundation
• Michael & Susan Dell Foundation
• Rockefeller Foundation
• Shell Foundation
• Virgin Unite
• Omidyar Network
• Calvert Foundation
• Ford Foundation
• Hewlett Packard Foundation
• F.B. Heron Foundation
• Kellogg Foundation
• Montpelier Foundation
• KL Felicitas Foundation
• Gatsby Foundation
• Impact Assets
• Pershing Square Foundation
Foundations
• Canopus Foundation
• Cottier Donze Foundation
• Elea Foundation
• Gates Foundation
• Michael & Susan Dell Foundation
• Nike Foundation
• Young Foundation
• Schwab Foundation
• Skoll Foundation
• Soros Foundation
• Tellus Matter Foundation
• The Citizens Foundation
• Whole Planet Foundation
• Soros Economic Development Fund
• Children’s Investment Fund Foundation
Intermediaries
• Ashoka
• NESTA
• Skoll Centre for Social Entrepreneurship
• Stanford Center for Social Innovation
Networks
• Big Bang Philanthropy
• ClearlySo, Pymwymc, Toniic
/5 10
Overview
Foundations world is very heterogeneous, every foundation is different in what they focus on, how they
work, what tools they use. Some have entry-level positions through fellowships and internships.
Depending on the foundation some may require very strong knowledge of the topic they focus on, or a
strong analytical background if they make investments, for example. In general you need to have a very
strong and demonstrable level of commitment to the mission pursued by the foundation and a clear
understanding of its theory of change (i.e. why they focus on these problems and how they see change
coming about). Interpersonal skills are key, since very rarely roles will you be spending all your time at
your desk; a lot of networking and advocacy is required so comfort with public engagement is essential.
High ability to communicate and project manage is usually required.
Advice: understand exactly what the foundation you are meeting does, not just the mission they pursue
but also the different activities they engage in (research, investment, events, advocacy…) and who their
key partners.
Example: http://www.skollfoundation.org/about/jobs/associate-research-and-analysis/

8. Social Entrepreneurship and Impact Investing | Spring 2015 | Master in Economics and Business
Ali El Idrissi | Soushiant Zanganehpour
Corporations+Private Sector
Corporations
• Unilever
• Mars Catalyst Programme
• Nestle
• Kingfisher
• Heinneken
• GSMA - Mobile for Development
• Pearson (Pearson Affordable Learning Fund)
• Novartis
• GSK
• Royal DSM
• Danone (Danone Communities)
Consultancies (mid-large)
• Accenture - Sustainable Services Practice &
Accenture Development Partners
• Deloitte
• Monitor (Inclusive Markets)
• Dalberg
• FSG
• Bain - Sustainability or Emerging Markets
Practice
• Bridgespan
• Endeavor Global
• PwC - public sector innovation, BOP markets
• Ideo or Ideo.org
Consultancies (boutique)
• Volans
• SustainAbility
• Participle
• International Centre for Social Franchising
• Global Philanthropy Group
• Ideas 42
• Independent Diplomat
• New Economics Foundation Consulting
• Rockefeller Philanthropy Advisors
• Yunus Social Business
• 2degrees
Intermediaries
• ClearlySo
• GIIN
• ANDE & Aspen Institute
Fellowships & Programmes
• OnPurpose, Frontier Market Scouts
/6 10
Overview
An increasing number of large corporates and consultancies have programs focused on sustainability
and offer graduate programs. Given their global operating footprint, these large corporates and
consulting firms can provide a lot of on-the-ground experience and mobility opportunities
Usually they are more flexible in terms of profiles they are looking for; one can have more broad
motivations but one still needs to demonstrate strong business/private sector acumen
Advice: if you are focused on gaining opportunities in large corporations, conduct detailed research
about the programs you have an interest in, not just the company (for example Danone Communities, or
Heineken Foundation). If there is no position in these specific programmes, usually positions open up
internally first for candidates so consider joining the company as an employee and working your way into
one of these positions.
Example: http://www.dalberg.com/careers.php?p=opportunities

9. Social Entrepreneurship and Impact Investing | Spring 2015 | Master in Economics and Business
Ali El Idrissi | Soushiant Zanganehpour
Social Investment & Finance
Banks/ Financial Institutions
• JP Morgan Social Finance Unit
• Morgan Stanley, Global Sustainable Capitalism
• Deutsche Bank
• Credit Suisse
• Prudential
• UBS
• Zurich Financial Services
• Anthos
• PGGM
• TIAA CREEF
• Christian Super
• AxA
• StoreBrand
• Triodos Bank
• Calvert Investments
• Grameen Bank
Funds
• Generation Investment Management
• Social and Sustainable Capital
• Bamboo Finance
• Google Ventures
• ResponsAbility
• Bridges Ventures
• Ariya Capital
• Triodos Investment Management
• Accion
• Grassroots Business Fund
• Grofin
• Purpose Capital
• Physic Venture
• One Acre Fund
• Legatum Ventures
• The Children's Investment Fund Foundation
• Voxtra
• Zouk
/7 10
Overview
An increasing number of financial institutions have developed investment teams to start allocating
capital to impact investments. Some of them invest in social businesses and others in investment funds
(that then invest in social businesses), which has also spurred the growth in number of investment
funds. Usually small teams that started to invest a few years ago and still proving the concept. There
are few entry-level opportunities at large banks and financial institutions in this space, usually people
move internally after a few years in a more mainstream role. There are more entry-level positions at
investment funds when they start to establish themselves and have more capacity to hire. Profile
required is highly analytical and good with numbers and financial modeling. Must also have strong
understanding of the social impact and impact measurement especially if investing on behalf of clients.
Advice: understand where there are entry-level positions and where there are not think about the steps
needed before getting there. If your objective is to go to a fund then make sure you understand the fund
ability to hire, to train people and to advance people. Sometimes it may be more fruitful to have a mid-
term perspective and get a first solid experience in an established role before using these skills in a
social investment role.
Example: http://jobs.thegiin.org/job/1132/cio-investment-intern-at-grassroots-business-fund/

10. Social Entrepreneurship and Impact Investing | Spring 2015 | Master in Economics and Business
Ali El Idrissi | Soushiant Zanganehpour
Venture Philanthropy
• Acumen
• Omidyar Network
• Skoll Foundation
• Pershing Square Foundation
• Mulago Foundation
• LGT Venture Philanthropy
• Lundin Foundation
• Microcredit Enterprises
• Remitly
Other Intermediaries
• Big Society Capital
• Bankers without Borders
• Kiva
/8 10

11. Social Entrepreneurship and Impact Investing | Spring 2015 | Master in Economics and Business
Ali El Idrissi | Soushiant Zanganehpour
Ventures
• Basic Needs
• Charity:water
• Crisis Action
• D-Light
• Engineers Without Borders
• Girls Not Brides
• Leaders Quest
• Local Insight Global Impact
• M-Kopa
• New Teacher Center
• Off-Grid Electric
• One Acre Fund
• Living Goods
• Partners in Health
• Pencils of Promise
• Pepy Tours
• SafePoint
• Sekkem
• Splash
• Souktel
• Tostan
• Tugende
• Waste Ventures
• Water for People
• Water.org
• World Health Partners
Entrepreneurship,
Acceleration/Incubation &
Funding
• Hub Ventures
• Wayra
• Village Capital
• Toniic
• ClearlySo
• Emerge Venture Lab
/9 10
Overview
Roles are varied across the functional needs of the business/venture and stage of growth they are
in (e.g. internal operations support, sales and distribution, marketing and outreach, customer
acquisition, progamme management, finance, etc.) and less on high value or highly “sexy” positions
such as “strategy” or “Impact evaluation”. Ventures are usually small, so strong interpersonal skills
are essential. Also, appetite or experience working for boutique organisations is key (ability to
absorb office politics, smaller operational footprint, informal systems and processes, learning on the
job and inadequate formal training opportunities, etc.). Profile required is usually very functionally
heavy but those recruiting will have a bias towards those candidates that have demonstrated an
interest and commitment to this larger social impact space; Working for a like-minded organisation
(e.g. another mission-driven business or venture) will usually help your chances in securing a role.
Advice: Don’t be afraid to sell yourself to them and pitch a role that you could do, that also meets
their needs. Start small and create the ideal role in 3-6 months after demonstrating your value add
to their business.
Example: http://ow.ly/oaWW2
Social Enterprises (Mid Level) & Portfolio Companies of
Impact Funds

12. Social Entrepreneurship and Impact Investing | Spring 2015 | Master in Economics and Business
Ali El Idrissi | Soushiant Zanganehpour
Online Resources
Job Boards
• Google Social Impact Jobs Listserv – https://
groups.google.com/forum/#!forum/social-
enterprise-jobs
• Charity Jobs – www.Charityjobs.co.uk
• For-Profit Jobs that Give Back – http://
givetogetjobs.com
• Idealist Careers – http://idealistcareers.org
• Wharton Social Impact Jobs Board – http://
socialimpact.wharton.upenn.edu/careers-
fellowships/internship-job-bank/
• Echoing Green – Social Impact Jobs – http://
www.echoinggreen.org/social-impact-jobs
• Guardian Impact Jobs – http://
jobs.theguardian.com/st/jobs-impact.html
• GIIN Jobs Board – http://jobs.thegiin.org/jobs
• Indeed Jobs Board – http://www.indeed.co.uk/
Social-Impact-jobs-in-London
• University of Pennsylvania – Careers for
Common Good – http://www.vpul.upenn.edu/
careerservices/careerfields/
commongoodcareersmain.php
Newsletters
• Finance Matters
• Stanford Social Innovation Review
• Year Here – Golden List (resources) http://
yearhere.org/the-golden-list/
• Impact Investing Directory – http://
impactinvestingdirectory.com/impact-directory
• Triple Pundit
• Next Billion
Convenings/Conferences
• Social Capital Markets (SOCAP), San Francisco
– September
• Emerge Conference, Oxford – October
• LAUNCH (social impact careers) conference,
Oxford – March
• Sankalp Forum, Nairobi & India – March & April
• Skoll World Forum, Oxford – April
• Oxford Jam, Oxford – April
/10 10