It’s that time of year again. The Echoing Green application is about to go live. In their annual competition, Echoing Green looks for promising entrepreneurs starting up new organizations aiming to create large-scale social impact. The Echoing Green Fellowship awards up to $90,000 of start-up capital and two years of technical assistance to help get your organization off the ground. They fund nonprofit and for-profit startups.
The application will be open online from December 4th to January 7th, but you can get a head start by:
- Reviewing the application questions
- Reading the guide about how to answer the questions
- Watching a few short videos on the application process
- Signing up for informational webinars targeting underrepresented applicants (including African Americans, US Latinos, and women)
To learn more about the Echoing Green fellowship or to access the application when it goes live, go here.
In this month’s Social Velocity blog interview, we’re talking with Lara Galinksy. Lara is an author, career expert and senior vice president of Echoing Green. Over the last two decades, Echoing Green has invested $30 million in 500 social entrepreneurs around the world. Galinsky is the co-author of Work on Purpose, which provides a framework for aligning passions with talents to achieve personal fulfillment and societal impact. She is also the co-author of Be Bold: Create a Career with Impact (2007).
You can read past interviews in our Social Innovation Interview Series here.
Nell: Echoing Green was in many ways one of the first instigators of the social entrepreneurship movement, founded in 1987 and having launched some of the darlings of the movement like Wendy Kopp of Teach For America, and Michael Brown and Alan Khazei of City Year. How do you think the social entrepreneurship movement has evolved over time? How is the field of social entrepreneurship different now than it was 20+ years ago?
Lara: The most wonderful way in which the field of social entrepreneurship has developed over the past 20+ years is the fact that, today, questions about the “field” can even be asked. Twenty years ago social entrepreneurship was not a field. It was not a movement. It was barely even a term.
Just five years ago a young woman approached me and told me that she wanted to be a social entrepreneur. I took a step back. I had never heard anyone say that they had wanted to be a social entrepreneur before. Now, I hear it all the time.
Universities now offer specializations and masters degrees in social enterprise. A number of new organizations are emerging to fund, support and incubate social entrepreneurial organizations. And more and more people identify themselves as potential social entrepreneurs. This year alone, we received nearly 3,000 applications for our Fellowship.
Nell: How has Echoing Green’s model evolved over time? What are you doing differently and how do you continually reinvent your organization and your contribution to the social entrepreneurship space?
Lara: Echoing Green has always been a very nimble organization, largely because we have been responsive to the evolution of the field of social entrepreneurship. As the field develops, new trends continuously emerge, changing the way we work.
Right now, we are seeing an increase in for-profit and hybrid organizations in the social entrepreneurship space. This year, 31% of the organizations that applied for our Fellowship used one of these two models. A few Echoing Green Fellows that use either a for-profit or hybrid model are Pharmasecure, Sparked.com, and FarmBuilders.
We are also seeing more product development within the space. Some Echoing Green Fellows who epitomize this trend are Global Cycle Solutions, EGG Energy and Mobius Motors.
There has been an increase in mobile technology. Some of our Fellows working within this field include Mideast Youth, Frogtek. You can read more about this particular trend in our recent blog series on mobile technology.
Finally, over 55% of our semifinalists have identified themselves as younger than 35 for the past four years. Inspired by the altruism of the Millennial generation, we have been giving more attention to the career needs of Millennials at large through our new program, Work on Purpose.
Nell: Some have cautioned that the social entrepreneurship movement focuses too much on individual, charismatic social entrepreneurs instead of institutions or broader/deeper efforts for social change. But Echoing Green is very much interested in individual social entrepreneurs, so how do you counter that argument?
Lara: We know that the individual is absolutely key to the success of a social entrepreneurship project. The power of someone who has found their unique contribution to the world—which we call the individual’s “hustle,” the perfect balance of their heat and their head—is undeniable. However, we believe that it is not enough to put strong young social entrepreneurs in the world. We must also create a world that will support these social entrepreneurs and their ground-breaking ideas.
When we began to envision our newest program, Work on Purpose, a few years ago, a number of individuals had already identified Echoing Green as uniquely positioned to help them ignite a career in social change—including those who were not social entrepreneurs. We came to realize that with our 25-year history of sourcing and supporting social innovators who have successfully created personally meaningful, world-changing careers, we had access to career-creation methodologies that were desperately needed among those who want careers in social change, particularly Millennials.
With this in mind, we developed a new book, Work on Purpose, which shares the best practices of our Fellows with a wider population of individuals interested in careers with impact. We are now developing an online platform, workshops, keynote speeches, panel discussions, course workshop guides, small group discussion guides, and other tools for deep exploration to supplement the book. The cost of our failure to harness the potential of the Millennial generation’s altruistic energy by not providing them with the inspiration, the tools and the resources they need to create the social change careers they want is simply too great to ignore.
Nell: Echoing Green provides a very needed injection of capital to startup social entrepreneurs, as do the burgeoning contests and other startup capital activities out there, but there is still a lack of capital at the next stage (growth) for social entrepreneurs. How do you see that capital space evolving, and what will encourage it to grow?
Lara: Of significant importance in expanding the level of capital provided to this space is greater overall recognition and understanding of the activity that is already occurring and studies on the successes and failures that happen. We need to develop our knowledge of what investment instruments make sense for social businesses and how they lead to requisite returns for investors.
The government could encourage capital in the sector by protecting the social investor from loss (downside protection), through collateral provision and other measures. They could also structure investment support in such a way that it amplifies returns to the investors by making public capital available but allowing disproportionate returns to private investors. Both these concepts have been used to effect in the UK.
Finally, greater use of PRIs by foundations and public charities will significantly increase capital flow. There is insufficient understanding around the IRS consideration of valid PRI approaches, and we need more progressive investments to demonstrate the true charitable impact of this type of capital.
Nell: What’s next for the social entrepreneurship movement? What needs to happen to continue to build support for and interest in social entrepreneurship?
Lara: The most important goal is for social entrepreneurs to demonstrate, collectively and over time, that they can tackle the world’s biggest challenges with scalable impact. Social entrepreneurs are nothing if not ambitious, and the field has set expectations of social impact very high. With a meaningful amount of money, attention, and human capital now in the field, Echoing Green hopes to see a steady stream of rigorously evaluated outcomes.
Below that over-arching goal, Echoing Green is particularly hopeful about two areas for continued progress in the field. First, we would like to see a much greater diversity in the social, economic, and geographic background of social entrepreneurs. At a minimum, the social entrepreneur community should mirror the diversity of the communities where social entrepreneurs work.
Secondly, we hope that the broader ecosystem of support structures for the field continues to develop. This includes the vital human capital represented by projects such as Work on Purpose, as well as the political environment, financial system, etc.
In the work of social change there is a constant and necessary tension between heart–the human emotions of love, empathy, anger that force us to work for social change, and head–the strategy, systems, and measurement that demonstrate whether that change is happening. Two recent books provide a nice demonstration of this ongoing balancing act between head and heart. Work on Purpose by Lara Galinsky from Echoing Green describes how the early experiences of five social entrepreneurs shaped the social change careers they eventually were drawn to. And Robert Penna’s The Nonprofit Outcomes Toolbox, provides a great step-by-step guide for a nonprofit wanting to explore the increasingly necessary world of outcomes measurement. The two books taken together, although very different in tone, content and presentation, actually provide a nice reminder of the importance of balancing heart and head in social change efforts.
Work on Purpose chronicles five Echoing Green Fellows and the paths their lives took to eventually become social entrepreneurs. The stories are fascinating, inspiring and eye-opening. Any social entrepreneur will recognize their own journey here, from some pivotal moment in childhood when they felt empathy that drove them toward social change, to the frustrating pressure to stay with a more traditional career path, to eventually breaking free and melding their passion and talents to work for social change.
In writing this book, Lara hopes to encourage others who are just starting out, and perhaps those who have not yet found their right career, to reflect on their larger contribution and the role they want to play: “What social footprint do you want to make? What is your problem to own? What gifts do you have to offer to the world? What path do you want to take?” Indeed, there is increasing interest and energy among the millennial generation to create a career around solving social problems. This book encourages that trend and helps people make it a reality, as Lance Armstrong and Doug Ulman write in the introduction to the book: “We all have an obligation to bring positive change to our communities and our world. Fulfilling that obligation requires the boldness not only to envision a better world, but also to recognize your ability to to make that world a reality.”
But social change is not all about passion and the individual social entrepreneurs who bring their vision to reality. It also must be about measuring outcomes in order to determine if all of that effort is really resulting in anything. And to help bring clarity to the often misunderstood and muddy world of outcomes measurement, Robert Penna has written a new book. The Nonprofit Outcomes Toolbox, guides nonprofit leaders (but really, any social entrepreneur) through the process of understanding what outcomes are, how to create the right ones, and then how to measure them.
His book is a much-needed tool for social change efforts because although there is increasing interest in demonstrating outcomes, outcome measurement can be so difficult and costly to pursue. Many organizations have simply abandoned the effort because they can’t wrap their heads around it, let alone afford it. But Robert provides a step-by-step, practical, common-sense approach that allows organizations to understand the power of outcomes and create the right ones for them. Finally there is a tool that makes outcome measurement a potential reality for all social change organizations.
In any effort to create significant, sustainable social change you must balance an empathetic vision with a systematic, measurable way to execute on that vision. These two new books provide the social entrepreneur the tools to do both.
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