SFF 08: Opening Remarks and Overview of Social Finance

SFF2008 – Welcome to Social Finance: A Primer and State of the Nation from SiG @ MaRS on Vimeo.

8:30am-9:00am: Opening Session – Welcome to Social Finance: a primer and state of the nation This session will provide an overview of Social Finance in general and the growing momentum in Canada.  You will also hear highlights on provincial initiatives, national projects, and how the social finance ecosystem is taking shape. Ilse Treurnicht, (introduction), CEO, MaRS Discovery District Tim Brodhead, President and CEO, J.W. McConnell Family Foundation Tim Draimin, Executive Director, SiG National; Chair, Causeway Social Finance; Senior Fellow, Tides Canada Foundation

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Opening remarks are being made right now  by Ilse, talking about MaRS as well as introducing the two Tim’s, Tim Brodhead and Tim Draimin. Notes on discussion: Tim B – Visionary, one of those Canadians who can see the future clearly and then acts on it

Joke – He can see the future more clearly sitting down

Challenge: How do we mobilize new sources of financial support for organization, namely non-profit organizations?

To do this, we need to get rid of the notion of non-profit, instead use public benefit or community-benefit organizations

Need to look for new solutions – in Canada, we need to be much more creative in identifying ways in which the work of these groups can be supported financially

Causeway – PLAN, Ashoka, Carleton University, MaRS, McConnell Foundation, Social Capital Partners and a number of other partners, who set themselves the task in doing some research in other areas (US, UK), and created an advocacy plan – government, community-benefit sector, private sector – path that we have been on for the past two years

This past year has been Causeway’s start up year – helped by Michael Lewkowitz and Joanna Reynolds

Last year, held the first Social Finance Forum

“One hand in the soil, the other hand reaching for the stars” – Al Etmanski

Told the story of a Major General looking at the stars and realizing how small humanity is in comparison to the universe. The Major General then turned to his Deputy for his thoughts, and the Deputy exclaimed that their tent was stolen…

I guess the moral of the story is to dream big (reach for the stars, etc…) but to have that dream grounded in reality

We are living in remarkable times: No one could anticipate two years ago the financial crisis in the stock and housing markets today – which is about to make itself in the job market and the real economy. Many references to the 2nd Great Depression today

Reality: An increase in demand for social services, fewer government dollars. Lingering effects of insecurity over the economy (loss of jobs, homes, etc.) will be felt for many years to come

Conclusion: Work started two years ago even more urgent now

What we should remember: Lots of experience out there that we can learn from, instead of yes we can do it….. yes, we ARE doing it….

Tim Draimin – Founder and CEO of Tides Canada Foundation and now Executive Director of SiG

SiG is a collaborative effort on the part of PLAN, UW, MaRS and McConnell to create in Canada a culture which supports and sustains a continual process of social innovation that address intractable social problems

Causeway is time bound, 3 year limit – Within this time period, goal is to support and work with organizations that are working in social finance, help facilitate and support a national movement for change.

1. Engaging mainstream financial institutions

Outreach in terms of discussion with financial institutions

Collaborating with social investment organizations – Social Investment Organization, Canadian Association for Socially Responsible Investment

2. Support mobilization of knowledge

Actively trying to build a network of academic and training institutions interested in social finance

Carleton University – Carleton Centre for Community Innovation

Sauder School of Business, University of British Columbia

Margie Mendell – Paper (.pdf) Social Enterprises in OECD Member Countries: What are the financial streams? – Concordia University

3. Catalyze a national movement around social finance

Roundtable on Social Finance created in British Columbia

Community Foundations of Canada – Pilot project called Responsible Investing

Participated at Imagine Canada and Association of Fundraising Professionals – focus on social finance

4. Policy advocacy in social finance

Difficult year to work because of the national election that took place recently

Federal inquiry – find out how much the federal government knows about social finance, recognize the levers within this community to place social finance on the agenda

Social Finance movement in other parts of Canada:

Emergence of new Social Finance fund called the Resilient Fund (can’t seem to find a web link)

Fraser Valley Centre for Social Enterprise – Looking into the best incorporation status for SE entities wanting to engage in social finance

VanCity – New Executive VP for Social Finance

Social Enterprise Fund (.pdf)  – Edmonton, Alberta

Another investment fund in Ontario – Investico

Many clean tech and energy funds starting up as well

New social venture model that MaRS has been working on

Ontario Trillium Foundation is creating a Future Fund

Chantier L’Economie Sociale – whole new policy framework to support the social economy in Quebec

SocialFinance.ca

Online platform for both individuals and organizations to use to discuss emerging thoughts and trends on social finance

Causeway is looking to build their platform through SocialFinance.ca - open to other organizations to link into it – ability to support email, calendars, sharedocs and email

Posted via web from Renjie Butalid

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