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Investing for Social and Environmental Impact: A New Approach to Venture Capital (B80014)

General information

Type:

OP

Curs:

5

Period:

S semester

ECTS Credits:

2 ECTS

Teaching Staff:

Group Teacher Department Language
Ed: 1 Elena Esperanza Pons Conforto Dirección General y Estrategia ENG

Group Teacher Department Language
Ed: 2 Elena Esperanza Pons Conforto Dirección General y Estrategia ENG

Prerequisites

None

Previous Knowledge

None

COURSE CONTRIBUTION TO PROGRAM

Impact Investsments seek to generate positive social and/or environmental impact in addition to financial returns. This emerging investment strategy can be applied across all asset classes in diversified portfolios, while addressing critical issues such as energy, water scarcity, climate change, community development, access to financial services, health, sustainable development and education. Often times impact investors are the first investors in a social enterprise.

In an ever-changing, fast-paced environment, social enterprise organizations (for profit and nonprofit) need the appropriate skills and funding in order to face new challenges and continue to help improve the lives of people and communities. In other words, these organizations must be truly capable of leading the complex world of social intervention. The new demands placed upon social enterprises are the results of deep-rooted changes that are shaping contemporary societies. A new generation of investors and social entrepreneurs are recognizing that many challenges facing the world can only be solved through integrated solutions that can successfully combine business acumen, capital markets, and policy objectives.

Though impact investing have gained in popularity and are now being taught in many universities, the concept remains a very young intellectual field. The theory is in relatively elementary stages of development and empirical research has been limited. The concept is inherently appealing to many, but we do not have the kinds of intellectual frameworks that would help impact investors, social entrepreneurs, and policymakers make wise decisions about how to use it to the greatest benefit. This analysis requires looking at limits and weaknesses of popular approaches to impact investing with the same intensity as we trumpet their strengths.

The course is designed for a broad range of ESADE students including those who, during their professional careers, are interested in understanding the specifics of managing social and/or environmental investment fund; are interested in advising impact investors; are considering a leadership position in a social enterprise ; are planning to serve as board members or volunteers; or simply are interested in leveraging business to serve social transformation.

Course Learning Objectives

The main goal of this course is to introduce and explore the concept of impact investing and understand how this type of investment philosophy can contribute to find solutions to the major social challenges facing our society and the environment. This is very practical course. Hence participants will acquire the basic knowledge necessary to source and analyze investments which help generate economic and social and/or environmental value simultaneously, and are economically viable in the long term.

The course also places a strong focus on methodologies and skills. We will practice creativity and innovation skills, analytical skills, negotiation skills, group work, presentations... and become acquainted with the main innovation and start up methodologies of the time, as well as with the investment strategies. We will also sharpen our critical thinking ability and strive to develop our own opinions about controversial issues and question our own assumptions. Hence this course is also interesting and suitable for students who want to explore entrepreneurship, investments, or simply an alternative view to business and economics.

The course strives to be eminently practical and applicable to a variety of contexts. For this reason we will analyze cases referring to different types of social enterprises and investments, in different sectors and continents, addressing varied challenges in various ways, and displaying the main challenges faced by social entrepreneurs and investors in different development phases.

At the end of the course, students should:

1. Become familiar with the concept of social and environmental impact investment; understand the impact investing spectrum
2. Develop participant's analytical skills to spot and analyze impact investments
3. Enhance a student's ability to weigh various qualitative and quantitative decision factors and exercise independent judgment when making investment decisions
4. Be familiar with the basic principles and practices of social entrepreneurship
5. Understand how social entrepreneurs develop businesses that have a positive social impact, but are also financially viable.

Assessment criteria

Case write-ups 40%
Class participation 20%
Final project 40%

Timetable and sections

Group Teacher Department
Ed: 1 Elena Esperanza Pons Conforto Dirección General y Estrategia

Timetable Ed: 1

From 2019/6/4 to 2019/6/13:
From Tuesday to Thursday from 8:00 to 11:00.

Group Teacher Department
Ed: 2 Elena Esperanza Pons Conforto Dirección General y Estrategia

Timetable Ed: 2

From 2019/6/4 to 2019/6/13:
From Tuesday to Thursday from 11:00 to 14:00.