Making money by improving the world ! Social and sustainable Entrepreneurship

Week 3 in New York started with discussions on sustainability. There is a raise on the concept of social Entrepreneurship. The first lecture was by Andrew Pek, Partner, Pivot Leadership. He had experience in marketing, strategy, organization Behavior. He used to be Partner at Accenture and head of global innovation for Pfizer Consumer Healthcare. He came to work for larger organization due to sustainability. As keeping your own business/startup sustainable is challenge and takes lot of energy. We talked about the concept like design thinking. How design thinking is being used by business leader to solve business related problems. How as a business leader one get new insights into their customers ,industry and society.

On innovation we defined innovation in the following way:

Innovation is the human centered creation of something desirable to other that is doable and is commercially and socially viable.

  • Clean ocean : perspective
  • Clean fish: the innovative leader
  • Clean ocean: the innovative ecosystem

We talked about companies like d.light. They have developed a lightening product that can absorbs sunlight and can be used for hours. This company is a perfect example of social entrepreneurship that is desirable, doable and viable.

IQ is another abbreviation for innovation quotient.

Studied showed that people who had multiple patents, were had cognitive complexity (divergent different languages, culture, experiences).

We tried understanding and answering a very important question where do you go to get the idea?

We discussed the creativity of Virgin America. An example was safety video for VA. It was very creative.

Another example was of Justin Gignac. He had an idea about packaging creatively . He collected garbage , cleaned it, packaged it and sold it again.

We also discussed Where to play and How to win. We did about other examples such as Glass point(Stream to create enhanced oil recovery).Polly by  Agha Ali, Carnegie Mellon( a great example of social Entrepreneurship),Steel case(transition from  manufacturing to design lab. around building architecture),Shadow( measure and share your dreams).

Overall Andrew presentation was very innovative and inspiring.

The second visit of the day was by Daniel Pianko, Education investor. He shared an interest fact. In New Zealand the top export after sheep farming was university. We discussed about the regulation of education and Funding. The potential of making money through educational institution in US

I got to learn another new term called dystopian counterfactual.

The important factor in considering a worth of a university is

  • Research
  • Ranking
  • Real estate

 Everyone in the middle tier university is getting crushed.

The new concept in education is to provide cheaper and more focused education. They provide more practical courses like coding etc. Their graduates are usually entrepreneurs or the ones who work for startups. Now some big staff companies and Firms are also hiring graduates from these institutions. One of the big examples of these institution are Galvanize and General Assembly.

In the afternoon, we visit a company in the south east side of Manhattan. Green Map System. It is another very good example of social entrepreneurship. Green Map systems started in the New York and it is making green maps for not only New York but also for other big cities. The aim of this company is to make cities more Greener ,clean and sustainable. In these maps you can find all the green locations , such as parks, public bikes, clean passive building, Recycle and composting sites etc.

We walked on sidewalk of lower east  Manhanttan and learned the history of the region. How the community in that area is help revive the area through social efforts. The establishment of social and botanical gardens in the area.

On second day , Michael McGetrick, Principal at SPARK451 visited us. He is developing creative and marketing communications strategies for a diverse roster of clients at a fast-paced startup.  His company focuses on the development of powerful technology platforms to support engaging narratives for effective branding, identity and marketing programs. SPARK451 combines the talents of an award-winning creative team with a world-class web design and engineering team to help our clients achieve business goals.

I learned the concepts about digital marketing and tool that are used by online marketing companies to help their client achieve their marketing goal online. We discussed social networks marketing tools like Facebook and tweeter. Online search engines like Google, yahoo and Bing. Google’s AdWords being a very powerful tool in online marketing.

The third day visited Rudin Management, A big and old real estate firm.  Rubin Management is more than 100 years old. They own residential and commercial building. They rebranded at tech savy real estate company. On their building is at 32 Sixth Avenue in Manhattan. It is their flagship building. They are using start of the art technology to make this building greener and to have save costs. To do so they worked Columbia University and New York Government to building control system called DI BOSS. Its measure temperature, Fire alarm, electricity, water and stream usage. Usually this “big data” they have saved a lot of cost in building operation and making it a more greener and sustainable place. They have saved 17-25 % energy saving last 5 years.

They have opened another big data company where they can sell their DI BOSS system as building management system as SAAS( software as a service)

If there is a frequency dip , a building engineer can have 45 seconds to react to a big electricity outage.

Rubin management is working another project in West village Manhattan. Where they are renovating a hospital to convert it into residential building. It was interesting to see the complexities and huge investments need for construction project in Manhattan.

In the afternoon we visited Brooklyn Grange, the company is doing urban farming on the rooftops. The founder explained what the rooftop farming is about and what requires to make it successful. They have two farm in New York that on the rooftops of the building. The founder was the industrial engineer who turned into a farmer.  It was good to see that there is a demand for their products and they have started to achieve profits.

Thursday Morning’s lecture was by David Hochman. He is Consultant in technology-based economic development and executive director, Business Incubator Association of NYS.  He talked about Innovation-based economic development is itself about sustainability. David discussed the introduction to business innovation, entrepreneurship & incubation. At lower level of detail, social innovation.

Examples of sustainable businesses and social ventures .Sustainability through innovative financing and Partnership models.

The week was full of visit to diverse type of companies. I have learned a lot of new concepts and ideas around social and sustainable entrepreneurship. How one can help to improve the society and also make money while doing it.

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